What is the best way to figure out the price of a lot? Is there a formula?

Asked by Linette Carroll, Wilmington, DE Tue Jul 31, 2007

It seems that there is no rhyme or reason to the value of a building lot in Delaware. Do you take the price of an acre and divide it , and how do you come to the price of the acre?

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Diane Riffee, , Wilmington, DE
Mon Jun 22, 2009

The best way is probably to search the MLS and see what similar sized lots in the area have sold for. And, of course, you can search the public records and county records. Good luck.
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