1065 lots sell for $29 million in Northport
In what was a surprise to those advocating a market downturn, 1065 abandoned lots in Northport were sold in the first phase of the Great American Land Auction. At an average of $27K per lot, prices were slightly below what is available in the MLS system.
The challenge will be when a large number of these lots hit the resale market in the next 60 days. Additionally, more Northport lots will be available via auction starting next week.
North Port lots sell high, go fast [Herald-Tribune]
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