Land for Sale in Pennsylvania - Great Opportunities

The state of Pennsylvania has a lot to offer to residents. Not only is the state known for its Amish community, but Pennsylvania also experiences all four seasons and has a lot of land for sale. A great state to live in, prices are much cheaper in Pennsylvania than other parts of the Northeast, and the population has grown steadily over the past 10 years.

Pennsylvania Population Growth and Statistics

Census information from 2000 and 2010 provides us with a general outlook of the state’s population. This information indicates that 421,325 people were added to the state’s population between both of these years. This is a growth of 3.4% over a decade. In total, the 2010 census estimated that Pennsylvania had 12.702 million people living within the state. Estimates from 2015 indicate that there are now 12.802 million people living in Pennsylvania – an increase of 100,000 people. Pennsylvania ranks as the sixth most populous state in the country, and has a total landmass of 46,055 mi.².

The majority of the people, 90%, speak English, with 4.1% of the population speaking Spanish and 5.8% of the population speaking another language. Median household income in the state is ranked 26th in the United States at $48,562.

What many people don’t know is that Pennsylvania ranks 19th overall in agricultural production in the United States. This is the ideal situation for anyone looking for land, and there is information available that allows you to better understand what agricultural products are best grown in the state.

* Mushroom production is the highest in Pennsylvania.
* Pennsylvania ranks second among production of apples.
* Christmas trees and layer chickens are popular in the state.
* The state ranks fourth for nursery, sod, milk and corn.

Pennsylvania is also an ideal state for growing grapes. The state ranks eighth in the nation for winemaking, and 66,800 people are employed within the food manufacturing industry. There is over $1.7 billion worth of food export in Pennsylvania, according to statistics from 2011.

The state's most popular areas in terms of population are:

* Philadelphia, with 1.526 million residents
* Allegheny, with 1.223 million residents
* Montgomery, with 799,000 residents
* Bucks, with 625,000 residents

There are also other areas in the state that have more than 500,000 residents within city borders. As you can see, Pennsylvania has a diverse set of regions that have a high population and are great for any investor that is looking for land in the area. Obviously, some areas will be more beneficial and affordable than others. Philadelphia is a thriving city, and finding a large parcel of land is far less likely than if you were looking in an area such as Bucks or Montgomery.

Pennsylvania’s Growing Housing Market

Land can obviously be used for agricultural purposes, but many people choose to build a structure on the property and flip it. If you have capital, you’ll find that building a house on a piece of land and selling it will provide you with the fastest return on investment. Otherwise, investing in land is a long-term ordeal.

While there are people that flip land by buying and selling it quickly, this is becoming frowned upon in the industry. Instead, owning land and working it is a good choice if you want to own a piece of property and sell it in the future.

Let’s take a look at the current housing market in Pennsylvania as a whole. The following information is provided by the Pennsylvania Association of Realtors:

* The median sale price for homes in Pennsylvania is $179,900 as of Q3 2015.
* Year-on-year, sale prices have increased 2.8% in the state.
* The number of new listings has grown by 2.7% to 72,404 total listings in Q3.
* Sales were up 8.1% in Q3, up to 42,416 total homes sold in the state.
* Inventory levels fell by 3.5% to just 119,000 units on the market.
* The time it takes to sell a home has also decreased greatly by 3.9%.
* The average home for sale in Pennsylvania is on the market for just 73 days.

The Association also states that Pennsylvania has one of the healthiest housing markets in the last 15 years. It's a great state filled with opportunity, and massive lots of land for sale.

Current Land Opportunities in Pennsylvania

The land opportunities in Pennsylvania are sparse at the end of the year, as this is a slower season for home sales. Sales increase for land and homes in the spring and summer months, and we do have a good indicator of what current acreage prices are, according to own inventory.

* A 0.07-acre lot in Allegheny County is currently available for $5,900.
* The lot is zoned as residential land.
* City water, sewer, gas and electric are available.
* Property taxes are just $5.68 a year.
* The property is located in Pitts, Pennsylvania.

This particular property encompasses 2,962 ft.² of land. This is an all-cash purchase, and is one of the best options for anyone that is planning on building a home in Pennsylvania. You’ll find that prices swing greatly depending on where the parcel of land is located. You’ll easily find half-acre lots in Albrightsville that are going for $1,500. It’s also easy to find lots that span hundreds of acres, such as one in the Poconos that is selling for $15 million for 175 acres.

Pennsylvania is a very interesting state when searching for land opportunities. The state has many different land opportunities, and there are farms, ski resorts and several other opportunities if you plan on working the land. If you want to simply build a house, knowing that the housing market is thriving will give you peace of mind in your investment. With housing prices increasing by nearly 3% per year and homes selling quickly, you’ll be able to make a hefty return without having to wait for your land price to increase in the long term. If you’re searching for land in the Northeast, look no further than the great state of Pennsylvania.