Recent Land Values

Has anyone been tracking land sales to tell me what the price for 512 is fair and expected TODAY?

i know it had been dropping. has that trend slowed or stopped, or has value gone back up? i don't know where to go check for myself. maybe someone can post that info as well.

Thanks.

I checked earlier this morning. The lowest price is set to 6.6L/m2 at the moment, and dropping... or 3380L for a 512m. If this trend persists, I suspect we could hit 5L/m2 in a week or so since there're still lots of sims in the auction queue.

Hi 3ring. The price is very dependant in where the parcel is and how quick the seller wants to unload it. Are you looking to buy or sell some land in an established sim or a new one?

To see how prices look at the moment go to search>land sales. Check the box that says mainland and then search by size. Put 512 in the little box and see what comes up. It will list price per square meter and total price. TP around a bit to get an idea of what land a a certian price point really looks like.

It sure looks to me like land prices will stay this low or be pushed lower based on the number of sims still coming on the market, but in established sims prices will be higher.

Gotta agree with Nimue. 512-1024's in my home sim on Naultilus are going for about 10l/sqm It's moderately good property- no water but there are a couple of very pretty smaller properties well upkept in the area with the usual roadside spinners to balance it out. Expect honest to god protected beachfront/roadside property and property in established sims with great neighborhoods to go for at least that and probably as much as double for an amazing location.

It's very possible to get property for 6.6-7.5 that's on Corsica and very, very new and untamed or people trying to liquidate on other continents. You'll have to look hard for the gems- but they do exist. Neighborhoods are unsettled and quality hasn't been established yet- but there's a certain amount of fun in establishing a nice home in a new area. When I moved to Svavarsson it was me and the skybox owner next door, roadside spinners and all yellow from there. Turned into a pretty nice place, but it's taken a few months and some luck with neighbors.

So it's pricey for established quality, dirt cheap for a gamble. ^.^

8-10L$ a sq m is what I'm seeing for "average" land prices. Keep in mind that that "average" is just from what I see in my travels through SL and is not taken from any statistical data. 8L$/sqm seems to sell fairly quickly, while the 9-10 takes longer. *Shrugs* As always, depends on the land, and who wants it.

~Jessy

i don't NEED to raise my tier, but there's a bunch of stuff for sale around me that's priced really high, and i was just wondering if the price might come down.

i rather think i'll wait until my whole mall is rented out, as my impulsive moment has finally passed. if they are sold in the meantime, oh well.

If you're really interested in those other parcels, IM your neighbors and make them an offer. We're in a buyer's market ATM. If you wait too long, someone else might take that parcel from your neighbor, that's what happened to me. I had to bribe my new neighbor to make him give up his newly purchased parcel, which cost me 1000L more than if I had made the offer to start.

Certainly IM folks unless they say something against it in their profile. I picked up a trio of 16's in front of my property earlier today for 10L/sqm (and I'd have been willing to go higher, but that was where I started the negotiation) when the guy realized I was increasing my established property and not selling ads. They went from 26,000L for the trio to 480L. ^.^

Can't hurt to ask!

You can view the average price for the current month on SL's economic stats page at:

http://secondlife.com/whatis/economy_stats.php

The current value (August to date) is 7.7 L per sq m - and this has been dropping steadily month on month and is about half of the value of six months ago.

You should also note that the rush for new sims in April saw mainland sims selling at auction for over 3500 USD, whereas at the moment they are selling for about 1800 USD, which, quite eerily is about 7.7 L per sq m...... and there are already 40 000 parcels on the market (compared to 4000 in April).

If you think land prices have crashed, just wait to see the crash when people start selling off mainland to cut their newly acquired losses (which are costing 200 USD per month in liability to maintain, per 65 000 sq m)..........

It is a crash in price due to a sudden and overwhelming supply of sims. This is great news for the average resident, as land prices have finally become affordable again. Of couse if you own private islands (especially at the $295/month tier) or hold a lot of land, you are screwed (private island owners will lose to mainland competition at these rates). But who cares about predator barons? The vast majority of people win.

The absolute bottom it can go will be 5.1L/m2, with a 'value' rate of 6.5L as the probable target (according to my calculations, which are pretty damn good).

Darius - absolutely agree with you - this is good news for future small scale land owners, and generally everybody else (some small scale land holders might take a small hit on their original investment if they invested at the wrong time - but these won't be profit chasers.

I see why you reckon 5 L per sq m is the rock bottom - but in fact it is the BREAK EVEN (on average for mainland, assuming you do not take into account tier).

However - how many mega land owners want to just break even - as soon as those liabilities pile up they will rush to sell to avoid losses - I can see land dropping to 3 L per sq m - this will probably be around February 2007 when LL will almost certainly raise the tier on pre Novemebr 2006 sims to 295 USD per month. This will leave a VERY small window for rented lands that are profitable (large parcels will be much cheaper on mainland and small parcels, although they might have a higher tier per sq m, will still be cheap on mainland).