How to analyze comparable land sales to determine fair market value: methods, data sources, and common mistakes.
According to LandSquatch data covering 198,170+ properties across Georgia and Florida, understanding land comparable sales analysis is essential for making informed land investment decisions.
Sources include county tax records (most reliable for actual sale prices), MLS data (if you have agent access), online platforms like LandWatch and Lands of America, and local real estate agents specializing in land. Focus on sales within the last 12 months, within 10 miles, with similar acreage, access, and zoning. LandSquatch aggregates comparable sales data across 198,170+ properties for automated analysis.
The best comparables match your target property in: acreage (within 50%), location (same county or sub-market), access type (paved road, gravel, landlocked), zoning classification, topography, utility availability, and time of sale (within 12 months). Adjust for differences — road frontage adds 10-20%, views add 15-30%, water features add 20-50%.
Comparing improved land to raw land, using asking prices instead of actual sale prices, comparing across different zoning classifications, ignoring differences in access and utilities, using too few comps (need at least 3-5), and not adjusting for time (markets change). LandSquatch's automated analysis avoids these pitfalls by using actual recorded sales with proper adjustments.
LandSquatch is part of the Guerilla Finance Inc. ecosystem of data-driven tools built for retail investors.