Tracking Change In Land Prices

Change in Land PricesA Look At The Changing Price Of Land

Just forty years ago, you could buy land in California for $15,000, on average. Today, that amount of money will hardly put a down payment on a small condo in many parts of the state! Clearly, then, land costs are on the rise along the west coast.

The residential land value of a lot is calculated by subtracting the cost of any structures on a property from the total value of that plot of real estate.

While land prices have not risen much in the middle of the country over the last few decades, thanks largely to their depreciation in value during the Great Recession, along both coasts 2015 land prices are significantly greater than they were even just a few years ago!

For example, while 15k could buy you land in California in 1975, the average cost for land as of the first quarter of this year was $376,052, marking a significant change in land prices. This rising cost of land is not new to the state, either. California—along with Connecticut—was one of the first states to have land prices hit levels over $140,000, and broke through that threshold thirty years ago!

Even with the Great Recession in our recent past, land values have steadily increased over the decades. This is a great time to acquire land in California and simply hold onto it for your future.

Contact Professional Land Corporation if you want to learn more about high quality land for sale in the Inland Empire’s Victor Valley, Antelope Valley, or the Southern California surrounding areas. Professional Land Corporation has prime residential, commercial, apartment, and industrial zoned land parcels available with affordable down payments and excellent long-term financing options.

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