Vacant Land, Lots, and Acreage Sales- Buncombe County, NC - March 2009

Buncombe County includes the cities or areas of Asheville, Leicester, Weaverville, Black Mountain, Arden, Skyland, Candler, and Biltmore Forest.

47 parcels of vacant land have been Sold in 2009 in Buncombe County with an Average Sold Price of $65,709.

The first 3 months have started off with at a slower rate of sales, which is not unusual. This would indicate that investors, builders and speculators are waiting for the market to stabilize.

Of course, the risk of waiting to purchase is that once the Asheville market heats up, which it will, the prices on land will increase at a rapid pace because buyers wanting new homes will have a limited supply.

There is not a great deal of activity to report over the winter months, but a breakdown of the sales for 2009 looks like this:

1 acre or under - 30 parcels sold with an Average Sold Price of $47,197.

1 to 2.99 acres - 10 parcels sold with an Average Sold Price of $65,894.

3 to 4.99 acres - 0 parcels sold with an Average Sold Price of $0.

5 to 9.99 acres - 4 parcels sold with an Average Sold Price of $55,175.

10 to 20 acres - 0 parcels were sold with an Average Sold Price of $0.

There are currently 2285 parcels of any size on the market in the county with an Average Asking Price of $261,109.

 The Average Asking Price of the 3190 Residential Homes "for sale" in Buncombe County is $452,867.

It is fairly obvious that the limited availability and high cost of vacant land has a great affect on the overall cost of homes in our area.

(The above 3.06 acre lot next to new house in Leicester, NC can be purchased for $149,000. Will also trade up or down. Underground utilities/DSL/phone and is ready to build on. Broker/Owner)

Copyright by Don Davies©