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2014 Overview of Land Markets Survey

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This report focuses on current trends in the land markets and on the general state of land sales.
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  Overview of Land Markets Survey Conducted by NAR Research for the REALTORS® Land Institute Lawrence Yun, Senior Vice President & Chief Economist Jed Smith, Managing Director, Quantitative Research Gay Cororaton, Research Economist August 2014    Survey Conducted July 9  –  July 31, 2014 ã REALTORS® Land Institute Survey.  – Surveyed 1,000 members plus approximately 9,500 non-members.  – 629 responses. ã 542 respondents provided information on membership: o 63 percent from RLI; o 80 percent are NAR members; o 13 percent are CCIM members; o 35 percent have other memberships (e.g., ABR, ALC, ASFMRA, CIPS, CRB, CRS, CRE, GRI, SIOR, TAR, ULI, Society of American Foresters ) ã Characteristics about the sale pertain to the most recent land sale transaction of the respondent. 63% 80% 13% 35% 0%10%20%30%40%50%60%70%80%90%RLINARCCIMOther    P   e   r   c   e   n   t   o    f   r   e   s   p   o   n    d   e   n   t   s Professional Membership, As Percent of Respondents Will not sum to 100 percent, because respondents could identify more than one membership      Highlights of the NAR-RLI Land Business Survey ã Regions 3 (KY, TN, NC SC, GA, AL, MS, FL) and 4 ( KS, MO, AR, LA, OK, TX) accounted for approximately 69 percent of respondents. ã Major practice areas: Agricultural (69 percent of respondents), and Recreation (59 percent of respondents). ã Transaction and price growth, past year: 4 percent. ã Individuals/families: 58 percent of buyers. ã Days on market varied-- from 60 days for irrigated agricultural land to 237 days for commercial land. ã Financing: on average, 31 percent of the transaction is financed.
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