Virginia is home to some of the most breathtaking vistas in America, as well as a rich history that dates back to the nation’s founding years. The Old Dominion also boasts a thriving economy and a wide range of land for sale for those interested in building, investing or simply enjoying the outdoors.
While housing markets account for the lion’s share of arm’s length sales, agricultural real estate represents a significant portion of the market as well. The land on which these commodities are grown and harvested provides the basis for the state’s annual revenue production. As the 35th largest state, Virginia offers a diverse acreage of land for sale that can be used for farming, hunting, timberland investment, and other purposes.
Located centrally on the East Coast, the state of Rapid Land Sales in Virginia is bordered by five states and Washington, DC. Its varied terrain includes the Appalachian Plateau in the west, the Blue Ridge Mountains and Piedmont in the center, and the Coastal Plain along the eastern shore. Despite the fact that Virginia is best known for its agrarian history, it now supports a number of industries that include aerospace, coal, tourism, food and textiles as well as paper, and is considered one of the most prosperous states in the country.
Residential real estate markets dominated the land sales in Virginia during this period with single-family residential urban property sales accounting for more than 52% and single family residential suburban properties registering 34% of total arm’s length transactions. The remaining share of sales was made up of both agricultural land Classes 5 and 6 as well as other non-farm residential real estate such as forestry tracts, wetlands, and other vacant acreage.
The analyzed data represents a retrospective look at arms-length sales of agricultural and undeveloped land in the state of Virginia from 2010 through 2018. These sales do not represent all transactions of landed assets in the state, as there are other forms of transfer such as transfers between family members or foreclosures of land. The data was compiled and validated by local land offices, with acreage and sale prices for each transaction cross-checked to ensure accuracy.
Investing in land for sale in Virginia can provide a lucrative return on investment. Land does not require the extensive maintenance and repair costs associated with buildings, so owners can enjoy the peace of mind that comes with owning this type of real estate without the worries of a deteriorating structure or a host of problems that can be caused by tenants. Purchasing land for sale in Virginia is also an excellent option for those who want to avoid the hassle of renting and managing apartments or houses. It is a perfect solution for people who want to live in a rural setting with a low crime rate and access to nature while also being close to the amenities of a major city. For more information about land sales in the state of Virginia, please contact a member of our team.
