Jett Land and Realty LLC maintains a database of sales of parcels over fifty acres in size in twenty two counties in Central Virginia. These sales include arms-length transactions between individuals as well as trustee’s sales. Hanover County saw the pendulum in sales take an upswing this year.
The number of 2013 sales under the county assessed value is also provided for additional consideration. The sale prices of over forty eight per cent of the total sales in 2013 were less than the county’s assessed value: Specifically seven of the eight parcels sold in Hanover County were sold under assessed value. This is extremely noteworthy, perhaps even stimulating the increase in activity. We continue to see the land market working to correct itself.