Michael Gris…, Home Buyer in New York, NY

What is the average price of a buildable lot in Cherokee Village in Sharp County Ar?

Asked by Michael Grisanti, New York, NY Wed Sep 26, 2007

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If the prices of all of the lots sold in the Village over the last 2 years were averaged, because of the large variety of lots this still wouldn't give you a useable figure to work with in determining what you might pay for a buildable lot here. The first question is...what is a buildable lot? Any lot may be built on as long as it passes a percolation test that allows for a septic system to be installed for the home. The cost of building a home is determined by many factors, including the style of the home and the terrain that the home is to be built on. Cherokee Village is spread out over 13,000 mostly wooded acres and is located in the Ozark Foothills, so we have some level areas, some gently sloping areas, and some areas that are quite hilly. Should you decide to build a home on a hillside because you fall in love with a view, for example, the costs of building on this hillside might be considerably higher than the cost of building on a more level lot due to excavation. This is one of the reasons that most homes in our area other than lakehomes are one-level and don't have basements. The location of the lot within the Village also is important. Would you like to live on a lake, have a lake view, or be walking distance to lake access (we have 7 man-made lakes within our city limits, which is one of the big draws for our area)? Would you like to have one of these choices with one of our two championship golf courses? Do you want to build where neighbors will be close-by or would you prefer to build in a more isolated area where so far not many homes have been built? We have unimproved, wooded lots listed in a range of less than $2,000 to $9,500. Lake and golf course view lots are a bit higher, when available. Golf course lots range in price from $19,500 to $39,900, and lakefront lots range in price from $25,000 to $94,900. These are all properties that are being re-sold for private owners, and the owners' prior investment in the lots is part of the determination of how they allow their lots to be listed, along with factors such as neighborhood, terrain, the amount of golfcourse or lake frontage, on lakefront lots whether the frontage is in a cove and the depth of the water, etc. With today's economy being what it is, we have some motivated sellers, so prices are being negotiated to a comfort zone good for both buyers and sellers. Cherokee Village is a beautiful place to live, and if you're thinking of building here it would be to your advantage to come for a visit and spend a few days exploring so that you may decide where you might like to build in order to determine what price range the lot should be in that will suit your building wants and needs.
1 vote Thank Flag Link Sat Feb 7, 2009
Most lots are selling for $1,500 and under unless they are lake front or golf course.
0 votes Thank Flag Link Mon Sep 23, 2013
As it is everywhere else, the price is usually dependent on location. Since Cherokee Village spreads out over about 13,000 acres in Sharp and Fulton counties, Arkansas and has seven lakes, you can expect prices to cover quite a wide range.

Over the last three or four years prices have dropped considerably but I suggest that you shop around and compare prices and other things such as the availability of owner financing. One site that often lists vacant building lots in Cherokee Village and offers online owner financing is:

0 votes Thank Flag Link Wed Jan 4, 2012
It will depend on the location of the lot. Cherokee VIllage is spread out over a large plat of property. Is the lot in question on one of the lakes, one of the golf courses, or back off the main roads and wooded. All this will enter in. The lots you see listed on the website referred to will show you some of that. Some lots on one of the lakes are $45-$65K but off the main road they could be under $10K. Location in the Village is of great importance.
0 votes Thank Flag Link Wed May 7, 2008
Hi Michael,

Below is a link that displays lot and land properties in this area currently posted for sale on Trulia.

I hope this information helps you.

Best Wishes,

Emily Gibson
Customer Service Representative
0 votes Thank Flag Link Fri Sep 28, 2007
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