Land Report - Meriwether County, Georgia - First Two Quarters of 2023

Introduction:
This comprehensive report analyzes the various land types and their corresponding price cost per acre in Meriwether County, Georgia, during the first two quarters of 2023. The data is sourced from reputable county records, real estate transactions, and market reports.

Overview of Meriwether County:
Meriwether County, situated in west-central Georgia, offers diverse landscapes, historical significance, and a promising real estate market. Its strategic location, close proximity to major cities, and growing economy make it an attractive destination for investors and developers across various land types.

Methodology:
To ensure the accuracy and reliability of the data, we employed a combination of primary and secondary research methods. Primary research included interviews with local real estate professionals, landowners, and appraisers. Secondary research involved analyzing publicly available data from county records, real estate websites, and market reports.

Land Types and Price Cost per Acre:

a. Residential Land: Residential land, designated for housing development, had an average price range of $3,000 to $7,000 per acre during Q1 and Q2 of 2023.

b. Agricultural Land: Agricultural land, used for farming and ranching activities, had an average price range of $2,500 to $5,000 per acre.

c. Recreational Land: Recreational land, suitable for outdoor activities like hunting and fishing, had an average price range of $2,900 to $6,000 per acre.

d. Undeveloped Land: Undeveloped land, raw and unimproved, had an average price range of $1,500 to $3,500 per acre.

Factors Influencing Land Prices:

a. Location: The location of the land, including its proximity to cities, amenities, and major roads, significantly influences its price per acre.

b. Zoning and Development Potential: Zoning regulations and the potential for development can impact land prices, with commercially zoned land commanding higher values.

c. Infrastructure: The availability of utilities and access to essential services can positively influence land prices.

d. Market Demand: Economic conditions and market demand for specific land types contribute to fluctuations in prices.

Regional Variations in Land Prices:

a. Greenville: As the county seat and a hub of economic activity, land prices in Greenville were generally higher than the county average across all land types.

b. Warm Springs: Warm Springs offered competitive land prices, with variations based on location and intended use.

c. Manchester: Manchester presented more affordable land options, particularly for residential and recreational purposes.

Conclusion:
Meriwether County, Georgia, provides a diverse array of land types with varying price points per acre. The various land segments, with prices ranging from $2,700 to $7,000 per acre, demonstrated significant demand and investment potential. Meriwether County offers an abundance of beautiful countryside for those seeking a country estate. Investors and developers seeking land in the county should consider factors such as location, zoning, infrastructure, and market demand to make informed decisions.

Of 38 land parcels sold in the first two quarters of 2023, the average price per acre was $5,028 per acre. In the first two quarters of 2023, there were 4 - 100+ acre parcels sold ranging in price per acre from 162 acres @ $2,750 per acre to 478 acres @ $4,462 per acre.  In addition, there were 8 - 50+ acre parcels sold ranging in price per acre from 55 acres @ $2,715 per acre to 92 acres @ $6,999 per acre.

Comparing land sales in Meriwether County, Georgia, between the first and second quarters of 2022 and the first and second quarters of 2023 reveals notable trends in the real estate market. During the first half of 2022, land sales in the county showed a steady increase, driven by a growing interest in residential and recreational properties.  However, as the economy rebounded in the first two quarters of 2023, there was a significant surge in land sales across all categories.  This surge in land sales and appreciation in value can be attributed to increased investor confidence, favorable economic conditions, and ongoing development initiatives in the county. The comparison highlights the dynamic nature of Meriwether County's real estate market and its potential for growth and investment opportunities.

As land prices can fluctuate over time, this report reflects the market conditions during the first two quarters of 2023. It is essential to consult local real estate professionals and conduct further research for up-to-date and personalized insights on land investments in Meriwether County.