Mountain land values continue on the rise
Haywood outpaces most counties in the neighborhood
By Beck Johnson
Staff Writer
The average cost of land in Haywood County is $24,000 and
acre higher than all but one other county in Western North Carolina.
Buncombe County is the exception, where land on the open market
averages $35,000 and acre.
The price of land in Haywood County has increased nearly 10 percent a year
over the past six years, according to the recent property revaluation. Last
year alone, there were about 2,000 land transactions in the county.
An acre of land in Haywood County is $1,000 more on an average
than Macon County, $3,000 more than in Transylvania County, $6,000 more than
in Jackson County, and 18,000 more than in Madison County.
While Haywood is a front runner in land costs, soaring land values are affecting
all of Western North Carolina.
Cecil Dills, the tax assessor in Jackson County, has noticed
a pattern that holds true across county lines.
"The trend is your large acreage tracts go up percentage-wise more in
a revaluation time than the smaller residential tracts," Dills said.
"With everything happening with the stock market, all
the big investors are looking around wondering Where I can put money and get
an investment? Bingo! Western North Carolina." Dills said.
Dills said those big purchases are the yardstick that determines
market value.
"When you have sale after sale after sale, then that
indicates that's what the market should be," Dills said. "Those
folks coming in from outside and paying the bucks for it is what's driving
the values up."
Richard Lightner, the tax assessor in Macon County, said that
holds true for most of Macon.
"Most of our influence right now is coming from Atlanta,"
Lightner said. "Over 50% of our (tax) bills go out of state."
"While the summer-home market used to be the driving
force behind real estate in Macon County, people who work in Atlanta are now
living full-time in Macon County and commuting to work.
Lots alone in Macon can go for $200,000, and have even gone
for as much as $1 million for lots with spectacular views," Lightner
said.
While Madison County has been somewhat immune to the increasing land values experienced by its neighbors, that will not last for long, Lightner predicted.
For more information contact:
Elk Country Realty, Jim Blyth
P.O. Box 1475, Maggie Valley, NC 28751
828-926-0091 / 800-213-8244
JimBlyth@elkcountryrealty.com
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