Baker-Kehoe Realty LLC

Between January 1st, 2024 and December 31st, 2024 acreage was typically selling from an average between $2550 to $4078 per acre. Long gone are the days of buying acreage for $500 - $1000 per acre. Pricing per acre will vary, depending on the total amount of acreage being sold at one time, whether there is timber on the property, ponds, rivers, lake frontage or if there are any existing outbuildings present on the property.

Typically, a nice wooded 10-acre parcel may sell anywhere from $33,333 to $58,000 (from $3,333 to $5,800 per acre), with $4078.68 being the most AVERAGE PER ACRE SALES PRICE. If a 10-acre parcel has a very limited amount of timber, the value of the land might be on the lower end of the scale, depending on whether it is tiled for farming or unimproved land. The same is true for a property with easement access, with no electricity available. Those factors may substantially affect the land values.

20 acre parcels sold between $2275 to $5050 per acre.

Nice 40 acre parcels are selling between $100,000 to $240,000! However, the one stat that sold for $240,000 was a unique anomaly in the sales. When using that sale, it put the acreage price per acre at $3888.33 per acre. 

There were seven 58 acre or greater parcels that sold in 2024, that didn't have major improvements such as out buildings or cabins. The avreage price per acre for these parcels ranged from $2484 to $2550 per acre. 

Acreage adjoining state land seems to be a hot item these days. They are harder to find and can sometimes go for a little more per acre, in the right location. Often, acreage around state land won’t have access to power and can also affect prices.

Many landowners offering land contract terms, might ask a little more for their property because they are offering terms.

If you are seeking to purchase vacant property, you should expect that the bank or seller will require at least a 20-25% down payment. This is typical with most banks offering vacant land mortgages or landowners who offer land contracts.

If you are looking for a bank that offers mortgages on vacant land WITHOUT the buyer being required to build on the property over a certain amount of time, contact Ivie Baker and she'll be happy to forward you some information on some lenders who will finance vacant land.

(Information for these statistics came from the Clare/Gladwin MLS, January 1st 2024 to December 31st, 2024)