Land is demanding absolute premium prices right now all around Iowa.
However, due to zoning restriction, scarcity, & all other land prices, buildable acreage parcels around the Linn & Jones county area have been demanding an ultra premium - if you can even find them.
How are buyers dealing with this? The ones that can afford it are paying cash, and usually at or close to the list price. Those who are financing tend to take on more costs than they would in a normal market. Many buyers are holding out expecting the market to crash. But with so many people waiting, even if the market happens to crash the housing market would still be very competitive due to the sheer amount of people who have been waiting, as well as likely higher interest rates.
What should sellers know? With prices staying higher than we've ever seen, and interest rates still on the lower end, now may be the best time for you to cash out your investment piece or home. Rates are still lower if you want to 1031 into another piece, or if you'd simply be looking to get your next place.
Are their any other options for buyers looking for a buildable acreage parcel? Depending on the location you'd like, there may be some different options to get you the right piece of land! Give Agent Ryan Barner a call at (319) 480-6924 or Broker/Owner Bret Barner a call at (319) 480-2124.
*Pictured is 19 Buildable Acres listed for $374,900 between Mount Vernon & Springville, IA. Listed by Broker/Owner & Realtree Land Pro Bret Barner - call at (319) 480-2124*