FAYETTE COUNTY
On average, an acre of land sold for $27,769 a 21% increase over the summer of 2023. The average per-acre price for farmland nationally is just over $5K (and $4K statewide).
55% of closed properties were cash transactions.
40515 was the most active zip code, followed by 40516 and 40509.
82% of closed properties were sold by locally-owned, non-franchise real estate firms.
Kirkpatrick & Co. sales represented 22% of the total volume.
The highest per acre price in Fayette County was $71,473, sold by broker Zach Davis.
REGIONAL ANALYSIS
Fayette, Bourbon, & Clark Counties experienced price per acre increases YOY.
The sale of more small farms for use as primary residences + acreage (vs. large crop or cattle lands) fueled a significant price per acre increase in Clark County.
Jessamine County farms sold tended toward retreat/recreational properties, rather than the large homes with acreage often seen, bringing the average price per acre down.
Most Scott County sales were located further into the county, in Stamping Ground or Sadieville, which accounts for the reduced average price per acre.
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