Eager buyers are snapping up large tracts of mountain land at bargain prices in Murphy, North Carolina and Cherokee County. The downturn in the real estate market has created once-in-a-lifetime opportunities for savvy investors.
As I mentioned in my recent market report on 2010 land sales in the mountains, several parcels of land of 100 acres or more recently sold for $2,500 per acre. Many smaller tracts of land are currently for sale for under $5,000 per acre, including one acre building lots with community water.
Lots with incredible mountain views that previously sold for $50,000 to $100,000 or more are on the market today for under $20,000.
I sold a lot with a 3 state long range mountain view in Grand Vista Subdivision in 2006 for $130,000. Last fall the lot across the road with a similar view sold as a foreclosure for $14,000.
Just this morning, one of our sellers reduced the price on this 40 acre parcel of land in the Peachtree community to $5,000 per acre.
This tract of land has both pasture and woods, with beautiful mountain views and numerous gentle building sites.
Here's a view of the level pasture and the woods beyond.
This property is on a paved road in a great location just 2 miles from Murphy Medical Center and Tri-County Community College.
With over 1,500 parcels of land for sale right now in Cherokee County, there is a huge selection in every price range.
Whether you're looking for waterfront property, mountain view lots or a large tract of land for a family estate or future investment, there's never been a better time to find your dream getaway here in the mountains!