Becky@pineba…, Other/Just Looking in Riverhead, NY

What was the average price per acre of land sold?

Asked by Becky@pinebarrens.org, Riverhead, NY Tue Jul 27, 2010

I am trying to figure out what an acre of land is usually sold at in the towns of Brookhaven, Southold, Southampton, Shelter Island, East Hampton, and Riverhead, all in New York. I am assuming the price is different for each of these towns. Any help would be greatly appreciated. Thanks.

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Keep in mind much will depend on the location of the land and exactly how much buildable/farmable land is available, it may scarcer in some towns than others. Yes, each town is different, therefore pricing will be different.
0 votes Thank Flag Link Tue Jul 27, 2010
Well Nunzio, seeing as Ralph was nice enough to pride the information he did, why would anyone necessarily want to contact you to get it. They can read it in his reply, and take it from there.
Becky, I am not sure if you are looking to buy or sell. Also, what you have to take into account is whether the acreage is in a development where there are already plans for public utilities, or if you are talking about selling farmland.
0 votes Thank Flag Link Tue Jul 27, 2010
Hello
I have completed a search both for Becky and myself. It was not easy there was work involved to come up with a true average number per acrea per town. My average is based on sales 2008 - present. I could not get an average for Shelter Island but if you consider it Southampton town you could use that average. This was not easy to get a single average number per acre for these towns so my results are available to anyone who would like to have that information by contacting me.
Nunzio
0 votes Thank Flag Link Tue Jul 27, 2010
Hello Becky,
I can provide some insight to Southold Township since this is in my market area. An acre of land on an average basis will sell for $350,000 to $380,000. There will be lots that will sell above and below this number based on location. The better areas and communities find the lots sell at the higher range. What is available in an acre parcel size will be lots that had been sub-divided in the past and were never built upon. Southold Township has restricted new sub-divided lots to a minimum of 2 acres to decrease the density on the North Fork and to retain open spaces with unbuildable vista's.
0 votes Thank Flag Link Tue Jul 27, 2010
The last piece of land sold in Brookhaven was in 2008. That was over an acre and sold for $350,000. A piece of land that was about 1/2 acre closed this year in March for $259,200 in Southampton. Recent sales in Southold averaged about $250,000 for under 1/2 acre. I cannot find any recent land sales in Shelter Island. A small piece of land is currently under contract in East Hampton (.15 acre). The listing price was $250,000. There are no recent sales of land in Riverhead that I could find on MLSLI. There is approximately 99 parcels of land available in the towns you mentioned. If I can assist you any further, please feel free to contact me.

Ralph Windschuh
Certified Buyer Representative
Senior Real Estate Specialist
Associate Broker
Century 21 Princeton Properties
In the top 2% of Century 21 Agents Nationwide!
631-467-0009
rwindschuh@c21princetonproperties.com
0 votes Thank Flag Link Tue Jul 27, 2010
Hello Becky,
I will compile this information for you and e-mail it to you upon completion.
Nunzio
0 votes Thank Flag Link Tue Jul 27, 2010
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