When it comes to real estate, raw land is the foundation upon which dreams are built. But before you can become the next real estate mogul, you first need to understand the market. What’s trending? What’s projected? How to make sure you get that return on investment. But don’t worry, we got you covered. Check out LandCentral’s Where to Invest: Raw Land Market Trends for 2024:
First, Understanding Market Analysis
Market analysis serves as a sort of compass guiding investors through the labyrinth of real estate acquisitions. It examines various factors like location, zoning regulations, demographic trends, and economic indicators. Taking all this into consideration before you buy will give you a leg up on the potential value or risk of an investment.
2024 Market Forecast
Based on a recent market analysis, pay attention to the following trends when choosing your next investment in real estate:
- Continued Urban Sprawl – People are still flocking to urban areas in search of opportunity. This means raw land on the outskirts of these growing cities may see an increase in demand for residential or commercial development.
- Sustainability Drive – The push toward more sustainability is reshaping land development practices. This is good news if you have property primed for conservation efforts or conducive for renewable energy practices.
- Rural Renaissance – Rural areas are still experiencing growth as remote work continues. Raw land in scenic areas are particularly attractive to investors seeking residential, recreational, or agritourism opportunities. If you invest now, it could be your land they want to develop later. This means a return on your investment sooner than you think.
Learn more about Land Development Trends and Forecasts for 2024-2029.
Top 10 States to Purchase Raw Land in 2024
Now that you know what type of land to look for, find out which states are at the top of the Places to Invest list:
- TENNESSEE: Tennessee’s affordable cost of living, business-friendly climate, and diverse landscapes make it an appealing choice for raw land investments, particularly in emerging markets and recreational destinations.
- ARIZONA: With its desert landscapes, thriving cities, and investment-friendly climate, Arizona emerges as a top contender for raw land investments, especially in areas poised for urban expansion.
- This Investor Pack is filled with 10 Cleared Lots in Growing Pinal County.
- TEXAS: With a booming economy, diverse landscapes, and favorable regulatory environment, Texas offers abundant opportunities for raw land investments.
- Don’t miss this amazing Quarter Acre Lot an hour outside of San Antonio!
- GEORGIA: Georgia’s strategic location, robust economy, and pro-business policies make it a compelling choice for land investments, particularly in suburban and exurban areas.
- FLORIDA: Known for its vibrant real estate market and favorable climate, Florida remains a hotspot for land acquisitions, particularly in coastal regions and burgeoning cities.
- Check out this sweet 2 Acre Lot an hour outside of Tampa.
- COLORADO: The allure of Colorado’s natural beauty and outdoor recreation makes it an attractive destination for raw land investments, especially in mountainous areas and growing urban centers.
- NORTH CAROLINA: Boasting a diverse economy, picturesque landscapes, and growing population, North Carolina presents promising opportunities for raw land acquisitions, particularly in research triangle regions.
- UTAH: Utah’s natural beauty, strong economy, and business-friendly environment make it an attractive destination for raw land investments, particularly in recreational and residential sectors.
- NEVADA: With its growing tech sector, tax advantages, and proximity to major cities, Nevada presents favorable conditions for raw land investments, particularly in suburban and rural areas.
- Deal of a lifetime Near Humboldt River Ranch!
- WASHINGTON: Renowned for its scenic beauty and progressive policies, Oregon offers opportunities for sustainable land development, particularly in eco-friendly communities and rural retreats.
So there you have it, LandCentral’s Where to Invest: Raw Land Market Trends for 2024. Once you understand how to use market analysis to your advantage, you can stay ahead of emerging trends and seize opportunities as they come.