How is vacant land doing in Thurston County?

I don’t spend a lot of time in the past. It’s yesterday, gone, over, finished, behind me.

 I sell a lot of land in Thurston County, so I thought a look in the rear view mirror might shed some light on the vacant land market that has been going on while all the media attention is usually directed at housing.

 I’m not the smartest realtor on the planet, but I do know they're not building anymore land. 

 For blogging purposes, let’s just call it real estate.

I will be sharing two separate 5 year histories. 

The first being land less than an acre in size. “The building lot”

My second post will be the larger than 5 acres

	A 5 Year History of
	Land Sales in
	Thurston County
	Less than 1 Acre
		Average
		Days on	Median	Average
	Total Sold	Market	Price	Size	SP%LP
2013	40	241	$45,275	0.48	83.76%
2012	59	183	$34,000	0.33	81.90%
2011	64	296	$47,250	0.34	89.11%
2010	95	190	$61,556	0.31	88.96%
2009	67	149	$64,000	0.30	89.76%

•  -29.1% drop in the median price over the last 5 years. Nearly 1/3 of land value went away.

• The SP%LP has remained over 10% the last 5 years.

• In summary; to sell a lot in the last 5 years meant a 30% hit, an average of 7 months to sell your land, then kick in another 10% when receiving an offer.

“Supply and Demand”

"There are no new fundamentals. You've got to be a little suspicious of someone who says, ‘I've got a new fundamental.’ That's like someone inviting you to tour a factory where they are manufacturing antiques." -- Jim Rohn

see you over at http://www.thurstonliving.com/