Land price report for greater Johnson City/Jonesborough area (Knoxville: home, job market)

[Tony1790]

Hello all,

For those of you that are moving to East TN (Johnson City, Jonesborough, etc) BTW, no real time/distance difference from Johnson City to Jonesborough, Gray is also close, but costs more. My mom lives in Jonesborough (1/2 mile from this land) I'll be going to school in Johnson City and visiting my sister in NC (access to I-26 in Erwin up TN -81, so this is why I've focused on this area.

I'll give you what I've seen while looking for land.

First: Get that buying land for $1k, 2K or 3K pretty much out of your head for this area. Not saying that you can't find it, but I'm seeing that kind of land in more remote areas, not here. You'll get closer to those prices if you buy in bulk (very large tracts). I'll say this, it's virtually IMPOSSIBLE to find an acre or two less than $10k to 20k per acre, at least not easily (common).

Second: Closer to town the more it'll cost (I know duh, location, location)

Anyway this is what I'm seeing, $10k per acre is pretty much a given, but I'm seeing prices from $10k to $20k an acre pretty common and as much as $80k and more per acre in some areas (not common).

The piece that I'm buying is 26 acreas, 15 miles from my door to East TN State Univ in Johnson City, 12 miles to Erwin, 11 miles to Jonesbrough or Greenville. 16 acres are wooded but sloped that backs to National forest, 10 acrea cleared with views, level to rolling, I paid $95k for the 22 acres 16 acre sloped woods and 6 acres rolling and clear, plus 4 additional acres of flat land for $40k. Total price was $135k, asking price had been $148k. I'm trying to get an adjoining 5 ac piece for less than $50k, that'll give me 31 ac for $185k. Currently I'm at about $5k per acre, not bad for the going rate around here.

I've seen several ads for land in the $4k to $5k an acre, but in tracts of 30 to 50 ac, haven't seen the land, so can't vouch for the way it lays. The land that I'm buying lays beautifully and is private, with good hunting and hiking area. I've seen other properties that were basically cow pastures, totally open and no privacy for $10k per acre. Other property near mine, 3.36 ac for $78k, 6 ac for $99k, etc, so I don't think that I'm over paying for my piece, even though a large portion of it goes up the mountain in the photo background.

Unfortunately, the land purchase will leave me short on cash to build with no debt, but I'll be close. I may sell off 4 - 6 acres that are flat with views but that are obstructed from my view by trees. I won't decide for a while to sell, I'd hate to do it, but I could possibly use that money to build my home for no debt and still have a home and 20 acres left over with no debt. Not bad, eh?

Good luck to those moving to East TN, land is PLENTIFUL, still pretty cheap $5k to 10k depending if you buy large tracts, $10k to 20k for smaller pieces. LOTS of view property, nice farm land, NO traffic (as compared to Knoxville, Nashville, Atlanta, etc). However......decent paying jobs....not so much, I'm planning on going to college, so I'm still unemployed, my wife has had no luck in finding a job either.

I'm trying to post a post a photo of my land, wish me luck.

Tony

[jbrown1055]

Dear Tony,

I think you are right on the mark. I purchased 24.5 acres in south greene county with a double wide, last year for $165,000. I hear people talk of the $1500-$2000 an acre land but it must be really well hidden or straight up the side of a mountain. I have been looking at prices for a while now and see the $10,000 an acre price when purchased in 10 acres plots is common. I see your property like mine borders the National Forest. Big bonus when it come to resale. Good luck

[Madeline4]

Tony, those are some beautiful pictures! We purchased almost 7 acres right on the Wautaga river. It is less than a mile from the lake and from the Appalachian trail. We looked for so long and in several states before we found this one. For some reason land on the water is getting very hard to find or so very expensive. Price for land is creeping up there in TN. But as a young realtor told us, 10 years from now, people will wish they purchased land when it was still affordable.

[tamor]

Originally Posted by Tony1790

Good luck to those moving to East TN, land is PLENTIFUL, still pretty cheap $5k to 10k depending if you buy large tracts, $10k to 20k for smaller pieces. LOTS of view property, nice farm land, NO traffic (as compared to Knoxville, Nashville, Atlanta, etc). However......decent paying jobs....not so much, I'm planning on going to college, so I'm still unemployed, my wife has had no luck in finding a job either.

Tony

So how is the job market there? Hubby and I are hoping to relocate Jonesborough area. He has a favorable job prospect, but if that doesn't happen, what is the primary industry in the Tri-Cities area? And what is the median salary scale there?

[Tony1790]

Originally Posted by tamor

So how is the job market there? Hubby and I are hoping to relocate Jonesborough area. He has a favorable job prospect, but if that doesn't happen, what is the primary industry in the Tri-Cities area? And what is the median salary scale there?

Nothing is absolute, but I don't see the job market here as very good. I personally would not move here without a job lined up, unless you are used to really low wages. My motivation is family in the area and an abundance of colleges for me to try and get try to qualify for a better job.

I hope that all goes well with your move, it's not bad here, people are generally very friendly and there is little to no traffic which is nice.

Tony