Neighborhood Expert: Land prices in Vienna

Laura Schwartz is a licensed Realtor in VA, D.C. and MD with McEnearney Associates in Vienna. You can follow Laura on Instagram at @LauraSchwartzRealtor or her Facebook page. Laura can be reached at 703-283-6120 or [email protected].

We all know housing prices have gone up a lot over the last few years specifically, but have you ever wondered how much land prices have gone up over the past 50 years?

We have some historic homes in Vienna, but the rest of the town is a mix of new builds, pop ups, and original ramblers. Land is also the one thing we can’t make more of, so what’s left is obviously a rare and precious commodity. 

Most of the homes in the Town of Vienna sit on approximately one quarter acre (ranging from .23-.26). There are anomalies that are larger and the rare half acre or larger land, but I’m going to specify what I’m measuring below. Remember, I’m talking about averages here.

Quarter Acre Lots in the Town of Vienna

  • 1980s: Around $200,000
  • 1990s: Mid $300,000
  • 2000s: Upper $400,000 and into $500,000 towards the end of the boom in 2007
  • 2010s: Here’s where the explosion of tear downs begins… prices hit $600,000s
  • 2020s: With the covid boom, I’ve seen quarter acre lots hit mid $850,000 recently

I wish I could go back to the 1980s and buy 20 of them. Original land owners are sitting on a literal gold mine.

And if this isn’t an example of why you should buy real estate, I don’t know how else to demonstrate the strength of real estate for your financial future.

Photo via Tierra Mallorca/Unsplash

The preceding sponsored post was also published on FFXnow.com

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