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What does land sell for per acre in Kentucky? This is our #1 question. Everyone asks, and I can give you a range. I will attempt to answer this below, but this is a difficult question to answer “simply” – here’s why…
Size of parcel – obviously, a 3, 4, 5 acre tract will sell for considerably more per acre than a 100 acre tract. Find out what your goal is – are you looking for a low price per acre or are you looking for a good value on a nice building lot for a home, retreat or occasional use home?
Set your goals and go towards it. A 4 ac horse farm for $25,000 – $35,000 (compared to an SUV for $40,000 – $70,000) is a bargain – period. Think what the vehicle is worth in 2 yrs - about half of what you paid, 4 yrs the same vehicle is worth 25% of what you paid, 6 yrs and well, do you still have it? Is it still running? you get my point. That land keeps going up and up - it is tangible – it is real.
In 2008, Boyle County acreage was typically selling from $4500 to $6500 per acre. Long gone are the days of buying acreage for $500 – $1000 per acre. If it is available, it can be extremely rough. I recently drove 3 hrs to look at 300 acres for $300/ac. The agent said it was ”nice” - whoa, it was straight up and down, way out there, no cell service for an hour, an hour plus to get a gallon of milk, etc, etc. I doubt anyone would have been interested at $20/ac., you couldn’t even walk on it. Look at good land in a good area. Location, location, right?
As larger acreage becomes more scarce and higher in demand, the prices will keep increasing. Read this article – you’ll find it interesting. Pricing per acre will vary greatly, depending on:
- the total amount of acreage being sold in one tract
- the total amount of acreage being sold at one time
- views
- wooded areas
- tillable land
- timber on the property
- ponds
- rivers
- lake frontage
- if there are any existing outbuildings present on the
property - school systems
- County, etc, etc, etc.
Typically, a nice 10 acre parcel in Boyle County, KY may list anywhere from $50,000 to $95,000, with $65,000 being a common price tag. If that same 10 acre parcel is mostly pasture land, pond, views, a barn or two, it could run from $50,000 to $120,000.
We have an 18 acre tract for sale right now, for instance, for $125,000 - gorgeous. And a 33 acre tract with barn, feedlot, silo, grain dryer for $225,000. Both have gorgeous building lots. Click here to see those.
A nice 40 acre farm may cost anywhere from $150,000 all the way up to $350,000 and possibly more if the property has some unique features. As far as 40+ acre parcels, they may list anywhere from $4,500 to $6,000 per acre. Most common prices for 100 acre tracts being $400,000 to $750,000. Look at what we have right now – click here for KY Farm Land.
Acreage that has gently rolling pastures, close to a college town seems to be a hot item these days. Many people are looking for their own private secluded estate or recreational paradise, to get away from their busy work lives and to have some animals, Cattle and Horses generally. Horses and Kentucky go together like a hand and a glove.
Prices have come down, in some cases, a little over the last year, but are holding. Read this article – you’ll find it interesting.
Many land owners offering terms, might ask a little more for their property, because they are offering terms. We have sellers offering terms – click here.
If you are looking to purchase land, you should expect that a bank or the seller will require 10-25% down payment. This is typical with most banks offering bare land mortgages or land owners who offer terms.
If you are looking for a bank who offers mortgages on bare land without the buyer being required to build on the property over a certain amount of time, contact us. If you are looking for seller carry or seller finance terms, call us as well – we have sellers who will do this. Cindy or Brad Simmons 859-319-5000 or 4000 and we’ll be happy to forward you some information on some lenders.
Do you have an agent? Great, have them call us (they likely know us :-). We work with agents on many of our deals. Don’t have an agent? No worries, call us and we will walk you through the process.
Click here for our land for sale. Call us, plan on a site visit and come for that visit. We will show you around the area and show you our properties. Caution, be prepared to fall in love. We did, 23 yrs ago and can’t imagine living anywhere else. 859-319-4000 Cindy Simmons
