Thread: Where can I find out how much local lots have been selling for?

Originally Posted by Surak314

I am considering buying some farmland to develop and convert to lots to then sell. I'd like to see how much lots in the area have been selling for. I can easliy find out how much lots are being advertised for, but I'm not sure how to find out how much lots have been actually selling for. Any advice on where to get this information?

You can have a real estate agent do a comparative market analysis of lots in the area you are thinking of making your purchase in. They can access sold properties from the MLS data base. The other way you can gain this information is by contacting your local title company they can provide information on what lots are selling for in your area. Hope this helps and good luck.

We are off late witnessing Indian realty prices touching the sky. Learning to know what precedes property price increases can be challenging for any investor. There are some well-recognized factors that drive the market. I have discussed few of them below:
1. Demand & Supply- Population change is the key driver of demand. When an area becomes popular more people want to live there. Given there are fewer dwellings than interested parties, prices increase and vice-versa. The other driver is availability of land.
2. Affordability and availability of money-Affordability is the relationship between housing prices, interest rates and wages. It's the cost to the owner or investor to retain and enjoy a property. When prices, interest rates and wages reach a ceiling in a particular area, residents often realise they can have a better lifestyle elsewhere.
3. Infrastructure-Infrastructure is always a major driver for price growth when it increases the attractiveness and amenities of an area. The benefits of infrastructure are generally recognized after the changes.
4.The resources boom-The demand for skilled and unskilled workers is increasing day by day.And with an increase in their salary scale, these workers seek to improve their lifestyle by buying bigger and better homes, or maybe an investment property or two.
Put a number of these drivers together and you have an extremely good understanding of what's going to drive price growth. Having identified these areas, careful homework may reveal good cash-flow returns as well.