Land for Sale | CR 265, Bruce MS
Land for Sale | CR 265, Bruce MS Read More »
Mississippi Land Sales
Land for Sale | Squirrel Hollow Road, Holly Springs MS
Perfect for development or building your dream home, this property on Squirrel Hollow Road in Holly Springs, MS offers a blend of rural tranquility and modern convenience. With level topography and easy utility access across good road frontage—+/- 640 feet for development. Enjoy the amenities of Holly Springs while enjoying the tranquility of a rural setting. Located just 2.5 miles from the town of Holly Springs and I-22, this property provides fast access to surrounding towns such as Byhalia, Hickory Flat, and Ashland. Situated 15 miles north of Sardis Lake and about 7 miles from Holly Springs National Forest, it’s ideal for nature lovers as well.
Key Features:
Marshall County School District
City of Holly Springs utilities (gas and electric)
Level topography
Pond view
Good road frontage: +/- 640 ft
Ideal for development or building a home
Proximity to nature: Holly Springs National Forest and Wall Doxey State Park
Convenient access to town amenities with a peaceful rural atmosphere
Steven Sparks 662-523-4503 Office: 601-209-4882Land for Sale | Squirrel Hollow Road, Holly Springs MS Read More »
Land for Sale | CR 47 New Albany, Mississippi
This tract +/- 49 acre tract on CR 47 in New Albany, MS. offers prime opportunities for outdoor enthusiasts and agricultural pursuits. Approximately +\~ 70% of the timber was select cut recently and is in a natural regrowth stage with clearings ideal for food plots and trails that traverse the property. Boasting rich soils, including Arkabutla silt loam and Bude silt loam, this land is perfect for sustaining healthy timber growth or starting over with good pasture land.
A mix of young timber, including a Lone Star bottom hardwoods, provides good cover for wildlife, with open areas perfect for food plots. Enjoy an abundance of wildlife, with deer and turkey frequently seen in the area. This versatile tract also features over half a mile of road frontage, making it highly accessible. Mud Creek, which flows off the Little Tallahatchie River, is adjacent to the property. The property is conveniently located in the middle of nearby town of New Albany, Oxford, Pontotoc and Tupelo, MS. For easy access, US-78 is 10 miles away, and MS-30 is only 12 miles away. Schedule a tour today!
Key Features:
Location: CR 47, New Albany, MS
Size: 50.43 acres
Soils: Arkabutla silt loam, Bude silt loam
Wildlife: Abundant deer and turkey Features: Natural regrowth, young hardwoods, pines Potential: Hunting, agricultural, timber, pasture Accessibility: Over half a mile of road frontage
Nearby Towns: New Albany (10 miles), Oxford (30 miles), Pontotoc (25 miles), Tupelo
Highways: US-78 (10 miles), MS-30 (12 miles)Land for Sale | CR 47 New Albany, Mississippi Read More »
Land for Sale | CR 47 New Albany, Mississippi
This expansive 120 acre turn-key cattle farm on Mt Peel Rd in Holly Springs, MS features a 3-bedroom, 2-bathroom manufactured home, built in 2019. The rolling terrain features a blend of open pastures and wooded areas including old hardwoods and some pine, ideal for agriculture, livestock grazing, and recreational activities.
The property also boasts a well-maintained trail system, drill pipe catch pens with head chutes, a pole barn, pond and a tractor shed. This tract includes high tensile electric 12.5 gauge steel wire on the front half and barbed wire on the back half, ensuring secure and efficient livestock management. The land is equipped with five freeze-proof water spigots, with water lines extending 1860 feet to the back pastures and stocked pond. Additionally, power lines run to the mid-rear of the property, providing flexibility for future construction of a homesite or outbuildings.
This property is also hunter’s haven with an abundance of turkeys and deer. Holly Springs is well known for its excellent turkey hunting.
Located near Holly Springs National Forest, this area offers excellent outdoor recreational opportunities. Sardis Lake, another popular destination for fishing and boating, is also within about 5 miles
.
Proximity to major highways, including MS Highway 4 and US Highway 78, ensures easy access to nearby towns such as Holly Springs and Oxford. Don’t miss out on this unique opportunity. Schedule a tour today!
Key Features
3-bedroom, 2-bathroom manufactured home 120-acre property with rolling terrain Abundant wildlife, including turkeys and deer High tensile electric 12.5 gauge steel wire on the front half and barbed wire on the back half
Five freeze-proof water spigots
Water lines extending 1860 feet to the back pastures
Power lines running to the mid-rear of the property
Drill pipe catch pens with head chutes
Pole barn and tractor shed
Well-maintained trail system Close to Sardis Lake and Holly Springs National Forest
Convenient distance to Sardis Lake Easy access to MS Highway 4 and US Highway 78
Near towns of Holly Springs and Oxford
Vicksburg Silt Loam (Va) Soil:
Acres: 52.24
Percentage of Total Area: 43.09% NCCPI (National Commodity Crop Productivity Index): 90
Capability Class (CAP): 1
Description: Vicksburg silt loam is a highly productive soil type suitable for various agricultural activities. Its high NCCPI score indicates excellent productivity potential for crops.Land for Sale | CR 47 New Albany, Mississippi Read More »
Land for Sale | Fawn Grove Rd, Mantachie Mississippi
Looking for a tract with suitable development potential, a hunting retreat, a recreational tract, a building site, or all of the above? This exceptional property offers several key advantages:
📍 Strategic Location: Situated right off Highway 178, approximately 3 miles from Mooreville and 10 miles from Tupelo. Additionally, it is located 5 miles west of the Tombigbee River, WMA canal section, and the town of Fulton, providing proximity to natural attractions centered between additional towns.
🚗 Extensive Road Frontage: With over half a mile (approximately 3000 feet) of road frontage on two sides—Fawn Grove Rd and Dorsey School Rd—the property provides high accessibility and multiple access points, enhancing its development potential.
💡 Utilities:
Electric: Tombigbee EPA
Water: Dorsey Water Association
Fiber: Tombigbee EPA
🏫 Community and Education: Located in the Dorsey community within the Itawamba County school district, it is just a quarter of a mile north of Dorsey Attendance Center, making it an excellent choice for families.
🦌 Recreational Opportunities: The tract features a good deer population, making it ideal for a variety of uses, including a getaway cabin, hunting retreat, recreational tract, or building site.
This property is an excellent candidate for various development projects, offering a blend of natural surroundings and modern convenience. Whether you are interested in development, hunting, a recreational tract, a getaway cabin, a building site, or all of the above, this location offers versatile potential.
Land for Sale | Fawn Grove Rd, Mantachie Mississippi Read More »
North MS Quarterly Land Analysis
Land Market Analysis in North Mississippi within the Past 12 Months Influence of Areas on Property Types
The following land analysis will be broken down in areas from 80-120 acres in the North Mississippi area. Areas A-1 being most desirable, areas C-3 being least desirable. For this analysis, no A-1 properties were found between 80-120 acres within the past 12 months and no C-3 properties were located. Keep in mind, the more land, the lower per acre due to diminished returns.
B3 and B2: These areas have a significant proportion of Ag-Mixed Timber properties (40% of total properties) and a lower but notable presence of Merchantable Pines.
C1: This area has a lower proportion of these high-value property types, with only 30% Ag-Mixed Timber and higher-end tract with a wide creek and 10% Merchantable Pines.
C2: This area shows a higher proportion of both property types, especially Ag-TimberMix (60%) and Merchantable Pines (40%).
The following is a breakdown of land types:
- Mixed Timber: 21.4%
- Ag-Mixed Timber: 17.9%
- Merchantable Pines: 10.7%
- Ag-Watershed: 3.6%
- Ag-Natural Pines: 3.6%
- PlantedPines-Hardwoods: 3.6%
- Mixed Timber-Thinned: 3.6%
- Ag-RowCrop-TimberMix: 3.6%
- PlantedPines-Cutover: 3.6%
- Mixed Timber Cutover: 3.6%
- Natural Pines: 3.6%
- Ag: 3.6%
This chart depicts a broader variety of land types and their respective proportions. The largest segments are “Mixed Timber” (21.4%) and “Ag-Mixed Timber” (17.9%), while several other types like “Merchantable Pines,” “Ag-Watershed,” “Ag-Natural Pines,” and others each occupy smaller, equal portions of 3.6% or 10.7%.
Impact on Average Prices:
The presence of high-value property types like Ag-TimberMix and Merchantable Pines positively influences the average price per acre in these areas.
C2, with the highest ratios of these property types, also shows the highest average prices per acre ($3,500 for Ag-Mixed Timber and $2,800 for Merchantable Pines).
B3, despite having significant proportions of these property types, shows lower average prices compared to C2 but higher than C1, which has the lowest proportions.
Influence of Areas on Property Types:
A2, A3, B1: These areas have significant proportions of Ag-TimberMix and Merchantable Pines, which influences their higher land values.
B3 and B2: Show notable proportions of these property types, but not as high as C2.
C1: Has lower proportions of these high-value property types, correlating with its lower average prices.
C2: Only 2 properties within these locations and both one is in a flood plain and both have poor access with one being accessed by easement. This was the lowest land class price per acre of $1,600. One of these tracts had row crop-timber mix which is the highest price per acre land type in this data set and despite this, was still only $1,500 per acre due to being located in a flood plain with poor access.
Impact on Average Prices
Areas with higher proportions of Merchantable Pines and Ag-TimberMix generally have higher average prices per acre.
Examining how long properties stay on the market in different areas
Area A2: Generally sells within 30-40 days
Area B3: Takes around 50-60 days to sell
Area C1: Longer market duration, around 70-80 days
Interpretation: Areas like A2 with quicker sales indicate higher demand, while areas like C1 with longer market durations suggest lower demand or more challenging sales conditions. This data also indicates that land with reasonable pricing sells faster due to shortage of inventory.
Trend of Days on Market vs. Sold Date by Property Type
Analyzing how quickly different property types sell:
Residential Development: Sells within 30-40 days
Cutover Land: Takes around 60-70 days to sell
Interpretation: Property types like Residential Development are in higher demand and sell quicker, while Cutover land takes longer to sell due to additional development requirements.
Trend of Days on Market for Cutover Properties
Specifically for cutover properties:
Cutover Land: Consistently takes 60-70 days to sell
Interpretation: The longer days on market for cutover properties reflect the challenges in selling this type of land, likely due to the need for clearing and development.
Trend of Days on Market for Floodplain Properties
Analyzing the market duration for floodplain properties:
Floodplain Properties: Generally took 80-90 days to sell
Area Classification: The strongest correlation found in the data is with area classification. Different areas are often subject to various zoning regulations and land use policies, which significantly impact their market value. For example, A3 areas are typically valued higher due to their suitability for agriculture or development.
Utilities and Infrastructure: Properties with detailed remarks about available utilities and infrastructure, such as water, electricity, and road access, tend to have higher prices per acre. The presence of utilities reduces development costs and increases land desirability.
Average Price per Acre by Area
Land prices vary widely across different areas. Here’s a breakdown of the average prices per acre:
Area A2: $3,800 per acre
Area B3: $3,600 per acre
Area C1: $2,000 per acre
Interpretation: Areas with better infrastructure, accessibility, and development potential (like Area A2 and B3) have higher land values. In contrast, less developed or less accessible areas (like Area C1) tend to have lower prices per acre.
Average Price per Acre by Floodplain Status
Understanding the impact of floodplain status on land value:
Non-Floodplain: $3,200 per acre
Floodplain: $2,400 per acre
Floodplain areas were generally located in Ag-Mixed timber areas
Average Price per Acre by Status
Analyzing land prices based on market status:
Active Listings: $3,200 per acre
Closed Sales: $2,800 per acre
A-1 – B1 properties have a higher disparity compared to tracts in less desirable locations.
Active Listings: $3,500 per acre
Closed Sales: $2,800 per acre
B-2 – C-2 Tracts
Active Listings: $2,000 per acre
Closed Sales: $1,600 per acre
There are several variables that have influence over these property groups, however, there is a clear correlation between area and value. It is important to note that some of the more desirable areas also displayed more level topography, some had agricultural/pasture land with building spots mixed with timber and better infrastructure as well.
Contract vs. Sold Price Analysis
To understand market trends a little better, we compare the contract price and sold price for closed sales:
B-3 through C-3:
These areas generally have a mix of land types but often show significant proportions of less developed or less agriculturally productive lands.
Areas like Tishomingo and Itawamba exhibit lower ratios of high-value land types compared to A-2 through B-2.
A-2 through B-2:
These areas often feature better topography suitable for agriculture, such as Ag-Mixed Timber properties and other high-value land types.
Pontotoc and Prentiss areas display higher ratios of agriculturally productive land types, correlating with higher land values due to better suitability for agricultural and residential development.
Topography and Price Correlation
Better Topography in A-2 through B-2: These areas are more likely to have better topography, making them more suitable for agriculture and residential development. This suitability is reflected in higher average prices per acre.
Lower Prices in B-3 through C-3: These areas often have more challenging topography and higher proportions of less developed land types, leading to lower average prices per acre.
For more see my twitter page below. There you can find a detailed analysis of supply and absorption rates between 80-120 acres as well as the above analysis. Stay tuned for 40-80 acres next and more data on market trends and land use patterns!
Just enhanced the North Mississippi land analysis with detailed supply and absorption rates between 80-120 acres. Stay tuned for 40-80 acres next and more data on market trends and land use patterns! 🌟 #RealEstate #LandAnalysis pic.twitter.com/rklXxnaIYu
— Steven Sparks (@Ssparx3) June 9, 2024
North MS Quarterly Land Analysis Read More »
North Mississippi Market Analysis and Land Trends
North Mississippi Current Land Trends
The Price Per Acre by Land Type and Average Price per Acre Graph in the lower left corner demonstrates that land value is closely linked to its location. However, there are observable differences in price per acre across various land types. Agricultural land, for example, has a high correlation with its size, although prime agricultural land tends to be situated in outlying areas of towns that are in higher demand. This can be attributed, in part, to the tendency for towns to be built on flat terrain with soils that favor prime farmland. Furthermore, topography is typically associated with agricultural land, although there are exceptions to this rule.
In the upcoming study, the correlation between counties, acreage, area, and price per acre will be further analyzed. It has been observed that the diminished returns for larger acreage apply to all of these categories, unless the property is located in a prime area. It is worth noting that the value of cleared land has increased over the past few years.
Further analysis of the land sales is broken down by features, which can be quite detailed and time-consuming to identify correlations and trends. If you enjoy solving puzzles, this task may be a fun challenge for you!
Analysis Of the Broader Land Market
Market Analysis of Lots Between 30-50 acres
This market analysis includes an inventory analysis covering the prior 7-12 months, prior 4-6 months, and current 3 months. It is important to keep in mind that the next to brief market analysis provides a general overview of the North MS Board of Realtors Land market, and that other factors such as property type, location, and features should also be taken into consideration when making specific evaluations or decisions. However, based on the data presented in the analysis, certain conclusions can be drawn regarding the supply and demand factors affecting land in similar acreage ranges.
Over the past 7-12 months, there were a total of 22 comparable sales (settled), resulting in an absorption rate of 3.67 sales per month. For the prior 4-6 months, there were 8 comparable sales and an absorption rate of 2.67 sales per month. For the current 3 months, there have been 7 comparable sales and an absorption rate of 2.33 sales per month.
There were 18 active listings as of September 21, 2022, 23 active listings as of December 21, 2022, and 25 active listings as of March 22, 2023. Based on the absorption rate, this corresponds to a months of housing supply of 4.9 months, 8.61 months, and 10.73 months, respectively.
Regarding median sale and list prices, as well as days on market and sale-to-list price ratios, there were some fluctuations across the different time periods. The median comparable sale price over the past 7-12 months was $111,250, while the median comparable sale price for the prior 4-6 months was $94,800. In the current 3 months, the median comparable sale price was $98,000. The median comparable sales days on market (DOM) for the prior 7-12 months was 98 days, while for the prior 4-6 months it was 125 days, and for the current 3 months it was 63 days.
The median comparable list price for the prior 7-12 months was $167,500, and for the prior 4-6 months it was $182,500. In the current 3 months, the median comparable list price was $225,000. The median comparable listings DOM for the prior 7-12 months was 273 days, for the prior 4-6 months it was 200.5 days, and for the current 3 months it was 170 days.
Finally, the median sale price as a percentage of the list price was 94.00% for the prior 7-12 months, 78.00% for the prior 4-6 months, and (data missing) for the current 3 months
Market Analysis of Lots Between 10-20 acres
This market analysis presents an inventory analysis for the prior 7-12 months, prior 4-6 months, and current 3 months. During the prior 7-12 months, there were 25 comparable sales (settled) with an absorption rate of 4.17 sales per month. During the prior 4-6 months, there were 17 comparable sales with an absorption rate of 5.67 sales per month. During the current 3 months, there have been 7 comparable sales with an absorption rate of 2.33 sales per month.
The total number of active listings was 34 as of September 21, 2022, 50 as of December 21, 2022, and 73 as of March 22, 2023. Based on the absorption rate, the corresponding months of housing supply were 8.15 months, 8.82 months, and 31.33 months, respectively.
Regarding median sale and list prices, days on market, and sale-to-list price ratios, there were some fluctuations across the different time periods. The median comparable sale price for the prior 7-12 months was $85,000, while for the prior 4-6 months it was $51,000, and for the current 3 months it was $60,921. The median comparable sales days on market for the prior 7-12 months was 65 days, while for the prior 4-6 months it was 51 days, and for the current 3 months it was 253 days.
The median comparable list price for the prior 7-12 months was $107,450, while for the prior 4-6 months it was $99,450, and for the current 3 months it was $99,500. The median comparable listings days on market for the prior 7-12 months was 324 days, while for the prior 4-6 months it was 262 days, and for the current 3 months it was 106 days.
Finally, the median sale price as a percentage of the list price was 88.00% for the prior 7-12 months, 94.00% for the prior 4-6 months, and 90.00% for the current 3 months.
Expired Listings Between 30-50 Acres
The massive amount of expired listings in this market analysis is likely a result of overpricing. As seen in the data, there were 573 listings that expired without being sold, which is a significant number compared to the number of active, pending, and closed listings.
The average list price of the expired listings is $253,309, with a median price of $119,000 and a high of $8,500,000. The average days on the market for these listings is 360 days, which is significantly higher than the average days on the market for active and pending listings. This indicates that these listings may have been overpriced, which resulted in them not being sold within a reasonable time frame.
On the other hand, the closed listings have an average sale price of $157,108, with a median price of $114,900 and a high of $1,850,000. The sale-to-list price ratio for these listings is 0.90, which is relatively close to the asking price. Additionally, the average days on the market for closed listings are 133 days, which is significantly lower than the average days on the market for expired listings.
Overall, this analysis suggests that overpricing is a significant factor in the high number of expired listings. It is important for sellers to work with a real estate agent who can provide a realistic and accurate valuation
MUCH MORE TO COME!
There is much more to come, so please be sure to follow me on the website and social media for the latest updates. If you’re looking for a customized consultation that specifically fits your needs, feel free to contact me via phone or text 662-523-4603, or email ssparks@wesleywebb.com at any time to schedule an appointment. Thank you for taking the time to read this!
North Mississippi Market Analysis and Land Trends Read More »