How Long Does it Take to Sell Land in Louisiana?

As migration trends drive Louisiana’s population up over 10% since 2010 to nearly 4.7 million residents statewide per Census Bureau figures, demand for housing and development properties understandably intensifies across metro centers like New Orleans and Baton Rouge. Yet for landowners seeking expedited sales on inherited or underutilized rural acreage now sunrise to higher value use conversion potential, completing deals with qualified buyers still requires good strategy before unfurling those For Sale signs. 

Statistics from 2021 show average marketed exposure periods before successful sales for vacant land span 200 days in Louisiana with as few as 20 showings, according to analyst Proxio data. However, just 10 years ago, similar property types might linger twice that duration, needing twice as many buyers through doors before one eventually bites. This reality makes better understanding of current best practices to minimize days on market essential knowledge for those seeking quicker liquidity events from real estate assets where next generational intentions shift towards divestment. With the right approach, balancing patience and promotion, Louisiana land can sell relatively swiftly even when prime parcels are not outright prime parcels in core investment corridors.

How Long Does it Take to Sell Land in Louisiana?

Selling vacant land or rural acreage in Louisiana can be a lengthy endeavor full of complications. Several key factors influence the time it takes to fully complete a sale including:

• Market Conditions
• Marketing Efforts
• Type of Land
• Asking Price
• Seller Circumstances

We will explore each of these in detail throughout this article.

Market Conditions in Louisiana

The real estate market in Louisiana has seen ups and downs over the past decade, significantly impacting timelines for selling land. Prices sank after Hurricanes Katrina and Rita in 2005 but have since rebounded in many areas. Baton Rouge, New Orleans, and Lafayette real estate markets remain strong, while rural regions have been slower to recover.

With interest rates rising in 2022, the market has begun cooling across the U.S. In Louisiana, homes are staying on the market longer while prices moderate. How this emerging trend will impact vacant land sales remains to be seen. Economic shifts can quickly change demand.

Ultimately, favorable market conditions with steady property appreciation, low mortgage rates, and excess buyer demand may sell a plot of land in 6 months. Down markets full of uncertainty could delay a sale 2+ years.

Smart Marketing for Faster Sales

Even in hot real estate markets, land does not sell itself. The remote nature and lack of structures make marketing efforts even more essential.

Landowners wishing to complete a quicker sale should consider these tips:

• Hire a knowledgeable real estate agent with experience selling large acreage and vacant plots successfully in the local area. They can provide exposure in the Multiple Listing Service (MLS) along with their existing industry connections. Typically the seller pays the agent a 5-10% commission at closing.
• List the land on popular sites like Zillow and Trulia to complement the MLS listing. Over 90% of buyers search for homes online.
• Create professional signage for the property with contact details and place along the roadside so commuters can easily see it.
• Spread the word to friends, family and business connections that the land is for sale. They can refer potential buyers.
• Be prepared to market the property consistently for 6 months to a year. Periodically refresh online listings and signs if needed.

Implementing multiple lead generation strategies gives the highest probability of attracting motivated buyers sooner.

How Type of Land Impacts Time to Sell

Not all land sells equally fast in Louisiana despite the marketing tactics used. Key characteristics like size, location, terrain and utility access heavily influence demand.

For example, a 5-10 acre wooded recreational plot near a country road will likely sell much quicker than 40 acres of swampland. Smaller parcels require lower investments so appeal to more buyers. Quick highway access and dry buildable land also sell faster.

Conversely, large 50-100 acre agricultural tracts have a smaller pool of qualified farmers and ranchers able to purchase and maintain that much acreage. Wetlands usable only for hunting even further narrow buyers.

In most cases, usable vacant land under $100k will sell fastest while oversized, challenging property takes longest no matter what.

Pricing Land Appropriately

Sellers must carefully assess market comps and set their asking price accordingly if aiming to sell quickly. Those with unrealistic expectations of property value will have their land sit through multiple price reductions over several years.

Work with a real estate agent when pricing land to determine fair market value based on recent sales of comparable vacant land in the area. The agent should analyze size, location, terrain, road frontage, mineral rights status and other attributes to gauge what buyers have recently paid per acre for similar plots.

Asking over double the average per acre rate will deter buyers and delay sales. Price too far below and the seller loses out on profit. Finding the sweet spot takes research and forethought.

Seller Circumstances Influence Time to Sell

Beyond the property itself, an individual seller’s motivations and flexibility also affect timelines to sell land in Louisiana. Retirees, inheritance beneficiaries and owners facing financial duress often must liquidate assets quickly. Without pressing needs, others feel comfortable waiting years for their ideal offer.

Sellers who can entertain offers at any time and remain engaged through negotiations will close faster assuming other marketing efforts are in place. Those limited by narrow timeframes or difficult to reach may miss opportunities as interested buyers pursue other options.

Preparing the land for sale itself also takes time depending on needs. Overgrown land may require clearing bush, trees or debris before listing. In some cases, technicians must survey, subdivide or address title issues upfront.

Realistic expectations help sellers budget the true time investment required.

Strategies to Expedite the Land Sale Process

Beyond smart marketing and pricing, sellers can take other proactive steps to expedite the process including:

• Keep the land presentable with regular maintenance like grass mowing, trash removal, etc.
• Be flexible on closing dates and property access to accommodate buyer schedules for assessments.
• Respond quickly to listing agent inquiries and share requested details in a timely manner.
• Prepare for multiple showing requests on short notice despite the remote location.
• Negotiate offers fairly and avoid stubbornness on price reductions. Some money today often beats more later.

Again, hiring a qualified real estate agent proves invaluable for managing timelines and coordination tactfully and diligently so the seller need not handle everything themselves.

Alternatives to Selling Land Yourself

Not every Louisiana landowner wishes to endure the lengthy listing process and disruptions required to sell their acreage themselves. Nor do they have the expertise to maximize returns through proper marketing and negotiations.

Increasingly, land sellers have turned to trusted land buying companies like Land Boss which specialize in buying and selling rural vacant plots for top dollar. These experienced specialists streamline the process enormously through several benefits:

• They purchase land directly from the seller, bypassing public listings
• They pay fair cash offers upfront based on careful market analysis
• They handle closing coordination and all title/deed paperwork
• They buy land as-is regardless of condition

Reputable companies like Land Boss with years of local real estate experience provide sellers peace of mind through transparent, ethical conduct as well. They aim to deliver win-win solutions to customer needs on both purchase and selling sides.

While selling directly to a land buying company brings slightly lower returns than listing publicly, it offers much quicker paydays and infinitely less hassle for those focused on convenience.

Final Thoughts

Selling vacant land or rural acreage in Louisiana takes immense time and effort even in strong property markets with adequate buyer demand present. From listing to closing, landowners and their agents must expect an average timeline of 1-2 years due to extended marketing efforts needed. Proper pricing, condition improvements and owner flexibility can help expedite deals. Yet not every seller wishes to endure the process solo. Alternatives like reputable land buying companies provide guaranteed cash offers in far less time, appealing to many landowners wanting convenience and a painless exit strategy from their unused land.

Frequently Asked Questions (FAQs)

How long does vacant land usually take to sell in Louisiana? 

On average, land in Louisiana takes 1-2 years to sell after listing publicly. Even the most motivated sellers should anticipate 6-12 months minimum with a real estate agent actively marketing and showing the property.

What factors make land sell faster in Louisiana? 

Smaller acreage listings under 5 acres, dry buildable land, highway/road access, desirable locations near major cities, and fair market pricing based on recent comps help land sell faster. Hire an agent experienced in marketing rural land.

Does my land need improvements to sell quickly? 

Not always, but general maintenance helps. Keep grass mowed, trees trimmed, trash/debris removed so listing photos appeal to buyers. Major re-grading or drainage fixes take more time. Ensure proper roadway access as well since most land is remote.

How much does it cost to sell land in Louisiana? 

Either 5-10% in sales commission if listing with a real estate agent, or some profit if selling directly to a land buying company at a wholesale price. Agents help maximize market value sales through quality marketing and negotiations.

Will I need to reduce my land's asking price over time? 

Possibly, if failing to attract buyers initially. An agent can advise pricing adjustments based on market demand and activity. Overpricing by even 10-20% deter buyers expecting more realistic "motivated seller" type discounts off market value. Some reductions happen.

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