How are land prices doing in and around Hamilton?

Asked by Bigskybcs, Hamilton, MT Sat May 7, 2011

Has the "down" real estate market effected the price/value of land (both improved and not improved)? Is there a demand for land, or is it also a buyer's market?

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Craig Siphers and Laura Sherry’s answer
Craig Siphers…, Agent, Hamilton, MT
Sun May 15, 2011
Huge buyers market, if you can find a buyer. To give you an idea, the top of the market was 2006. That year $51.5 million dollars of land (vacant with no improvements except perhaps well and septic) was sold. In 2010 the market for the same property was $13.7 million. This statistic is only part of the story. There currently is probably something on the order of 7 years of inventory of vacant land for sale given the current absorption rate. Smaller lots are selling at 50% of high market. Land is in more trouble, by far, than residential property.
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Pat Barry, Home Buyer, Laguna Hills, CA
Sat May 4, 2013
There's a lot of hype but relatively few sales. Listings are all over the place, but sales prices reflect continued softening. $5000 and acre seems to be where interest comes in.
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