Key Findings

Land sales rose 1.2% in 2023, moderating from the previous years

  • In 2023, land transactions of REALTORS® survey findings indicated a growth of 1.2% in land sales.
  • Although this marks a slower pace compared to past performance, it highlights the market's resilience and ongoing potential for expansion amidst challenging conditions.
Bar graph: Average percent change in land prices, 2018 to 2023

Land value rose to 18.6 trillion, up from 17.2 trillion a year ago

  • As of 2023 Q3, the underlying value of the land of real estate owned by households totaled $18.6 trillion, up from $17.2 trillion in 2022 Q3
  • According to NAR’s estimate, the land value accounts for 41% of household real estate assets based on Federal Reserve Board data on household real estate and the cost of structures.
Bar and line graph: Total value of land held by households, in billion dollars, Q1 2000 to Q3 2023

Most land is purchased in under 60 days

  • Land sales generally conclude within a 60-day period, while a notable 25% of these transactions are wrapped up in less than 30 days.
  • Particularly in regions 1, 2, 3, 7, 9 and 10, the market moves even faster, with most sales closing in under 45 days.
U.S. Map: Land Sales Regions

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