As the summer of 2024 unfolds, the New Hampshire real estate market has seen a surge in significant land sales, particularly in properties 50 acres and larger. From July 1st, 2023, to the present, 65 substantial land transactions have reshaped the landscape, offering insights into the region’s real estate dynamics.
In this period, a total of 65 large parcels of land were sold, with prices ranging from a modest $55,000 to an impressive $4,600,000. The median sale price for these properties stood at $325,000, reflecting a healthy demand for sizeable plots. The combined total of these transactions amounted to $34,626,100, indicating robust activity in the large land segment.
Among the notable transactions, the largest parcel sold encompassed an astonishing 3,300 acres. This sale underscores the ongoing interest in vast tracts of land, whether for development, conservation, or recreational purposes.
The highest-priced sale reached $4,600,000, showcasing the premium that certain locations and land features command. On the other end of the spectrum, the most affordable large parcel sold for $55,000, illustrating the wide range of opportunities available for buyers with varying budgets.
The median sale price of $325,000 suggests a balanced market where both buyers and sellers are finding value. This mid-year review highlights the diversity in the types of properties sold, from expansive rural tracts to strategically located parcels poised for development.
Over the past couple of years, our office has seen several significant land sales, including:
- 180 East Side Road in Wentworth, a 517-acre parcel that sold in June 2024 for $1,400,000, listed and sold by Roche Realty Group
- 0 Welton Falls Road in Alexandria, a 118.50-acre parcel that sold in May 2024 for $230,000, listed by Roche Realty Group
- 0 Old Range Road in Sanbornton, a 61.41-acre parcel that sold in April of 2024 for $343,000, listed and sold by Roche Realty Group
- 613 King Street in Washington, a 337.70-acre parcel that sold in June 2023 that sold in June 2023 for $425,000, listed by Roche Realty Group
- 0 Eagle Shore Road in Moultonborough a 51.53-acre parcel that sold in May of 2023 for $1,575,000, listed and sold by Roche Realty Group
- 100 Peaslee Road in Orange, a 311.60-acre parcel that sold in April 2022 for $640,000, listed and sold by Roche Realty Group
- 89 Montgomery Road in Salisbury, a 148.51-acre parcel that sold in January 2022 for $239,568, listed by Roche Realty Group
The surge in large land sales reflects broader trends in the real estate market, including increased interest in rural living, investment in agricultural land, and the pursuit of conservation projects. This trend aligns with the growing recognition of land as a valuable asset, whether for its natural resources, development potential, or recreational opportunities.
It’s also worth noting the significant utilization of land as a store of value. Like most real estate, over time, the values increase, making it a relatively safe investment. With New Hampshire’s Current Use law, any unimproved land over 10 acres can be put into current use significantly reducing the tax burden making it a low-cost investment as well.
New Hampshire also stands out as a desirable state to live. The state consistently ranks among the top places in the categories of Crime and Safety, Economy, Education, Healthcare, Natural Environment, Opportunity, and Overall Best Places to Live in America.
I’ll leave you with this thought: while many things can be manufactured, land is a finite resource, and they’re not making any more of it. From the wilds of the North Country to the serene Lakes Region, the picturesque White Mountains, the vibrant Seacoast, the historic Merrimack Valley, and the charming Monadnock Region, every corner of New Hampshire exudes what the Granite State is all about. A balance of nature and community, where the beauty of the land and the warmth of its people create a truly unique and enduring place to call home.
This article was written by Randy Miller. Randy is a Realtor® at Roche Realty Group in Meredith, NH, and can be reached at (603) 279-7046. Data was compiled by a NEREN search on 07/18/2024 and is subject to change. Please feel free to visit www.rocherealty.com to learn more about the Lakes Region and its real estate market.
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