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Land Values Jump Dramatically Nevada Co

Land values have jumped dramatically in many California counties, including Nevada County. The Federal Housing Finance Agency says the average value per acre here, for single-family housing, has climbed from 184-thousand dollars to 324-thousand dollars, from 2012 to 2017. The County’s Director of Building, Craig Griesbach, says it’s all about supply and demand…

click to listen to Craig Griesbach

But Griesbach says that increase has not impacted homebuilding activity here, which remains static….

click to listen to Craig Griesbach

Meanwhile, Griesbach says there WAS a major spike in the number of building permits issued, from the 2016-2017 fiscal year to the 2017-2018 fiscal year. But he says the increase, of 600, was largely for improvements of existing homes. Placer County’s land values have spiked even more, from 218-thousand to 384-thousand dollars per acre. Statewide, the most valuable land, by far, is in San Francisco, at 15-million dollars per acre. By contrast, an acre is worth less than 100-thousand dollars in Lake, Tuolumne, and Amador Counties.

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