The Recent Sonoita, Elgin and Patagonia land market

Posted at 12:13 PM, Oct. 6, 2007

The land market for the past four months through the end of September has been rather soft. Out of 14 MLS recorded sales, 4 have been in Patagonia (including Three Canyons), 7 in the various sections of Elgin and the remaining 3 in Sonoita. Overall, the median price per acre was just over $21,000. The reason for the somewhat high price is that with the exception of three parcels, the sales were mostly for 4 to 5 acre pieces. These were all about $21,000 per acre and the 10 acre parcels sold for around $16,000 per acre. The best "deal" was a 10 acre parcel in Rain Valley at $150,000 (splitable). THe 4.14 acre parcel that sold in Three Canyons fetched $$178,400. I don't expect the land market to change much until after the first of the year when our "season" begins.