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Land Market Recap and Forecast

December 18, 2013 / By Gerry Smith, Vice President

Even in the best of times, raw land is not the most liquid investment. It is not something that can be disposed of quickly when no one is looking to build. During the recession, there was not a lot of development occurring and investors were looking to sell land to raise cash. It was not the ideal time to own land but recently, the market has been improving and over the course of 2013, the commercial land market in Dayton has begun to pick up steam.One of the biggest indicators that this market is improving is that farmland, the most basic raw land, has seen price increases. Rising crop prices, increased overseas demand, and ethanol production have all contributed to this boost in farmland sales. With farmland as a price floor for land sales, its rising prices reflect the overall improvement of the market.

Overall, the land sale and pricing picture is improving. Some notable deals from 2013 include the Pro Logis purchase of 130 acres in Union as well as Vandalia’s city industrial park gaining Independent Can, a specialty metal packaging company, and White Castle. The Austin interchange was also a hot area for land sales over the course of the year.

Although the land sales market was not at its peak in 2013, with construction and agricultural demand increasing in the Dayton area, it is expected that there will be growing land sales demand with prices continuing to pick up in 2014.

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About the author:

Gerry Smith is Vice President for Miller-Valentine Group.

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