With American soil some of the most valuable asset on the market, land in Blue Earth County is becoming a hot commodity. Not only is the land stunningly beautiful with wide open prairies and rolling hills, but its real estate value is continually climbing as more and more people seek out the rural landscape. It’s no surprise, then, that land auctioning has become a hot topic among real estate brokers, investors, and developers in the area – and the numbers are impressive.
Explosive Growth of Land Real Estate Auctioning
Land real estate auctioning in Blue Earth County is seeing a rapid and noticeable growth. In 2018, more than 40 parcels of land were auctioned off totaling over 900 acres at an average price of $6,400 per acre – a 53% increase from the year prior. The highest bid at the most recent auction went for a staggering $84,664 per acre, setting a new record for the county.
Which Communities are Selling the Most Land?
The largest population center in Blue Earth County is the city of Mankato, and unsurprisingly the majority of land auctioning is happening within city limits. Over the past two years, 42 of the 58 parcels of auctioned land have been within Mankato at an average of $4,000 per acre.
What Land Are is Being Sold?
The vast majority of land in Mankato being auctioned off is empty, allowing developers the opportunity to turn a modest investment into huge profits. According to local real estate experts, the selling point of these lots is the neighborhoods that potential buyers are investing into. These lots may be empty, but the neighborhoods they occupy tend to be highly sought after.
Who is Investing in the Land?
The investors buying up these lots range from developers looking to build single family homes to investors interested in housing developments, apartment buildings, and commercial spaces. It seems no matter the desired future use of the land, investors are happy to put down big money.
The Benefits of Investing in Land Real Estate
In a volatile housing market, land real estate provides a consistent source of value over time. Land values naturally appreciate, making it a solid long-term investment. Such property divestment, combined with the unique beauty of the area, make land real estate company in Blue Earth County a smart investment for both recreational and commercial use.
About LandProz Real Estate, LLC.
LandProz Real Estate, LLC. is a Minnesota-based land and real estate brokerage firm with a focus on rural and recreational offerings, including both buying and selling services for individual investors. Our experienced and knowledgeable real estate brokers work on the behalf of their clients to ensure you get the best deal possible. With a commitment to excellent customer service and expertise in local real estate trends, rea. is your go-to real estate brokerage for buying, selling, and managing properties in Blue Earth County and beyond.
