Year | Address | Purchase Price | Acreage | 2011 Assessment | Avg Annual Change in Value |
1997 | 3301 Glacier Ridge Rd | $34,900 | .12 | $92,600 | 11.8% |
1997 | 3316 Prairie Glad Rd | $56,905 | .22 | $122,800 | 8.3% |
1999 | 3320 Hackberry Ln | $39,805 | .10 | $94,800 | 11.5% |
3321 Hackberry Ln | $39,805 | .12 | $101,900 | 13% | |
3316 Hackberry Ln | $40,800 | .11 | $97,500 | 11.6% | |
3312 Hackberry Ln | $40,800 | .12 | $99,400 | 11.4% | |
3317 Hackberry Ln | $41,900 | .13 | $106,300 | 12.8% | |
6818 Frank Lloyd Wright Ave | $46,455 | .16 | $137,700 | 16.4% | |
3313 Hackberry Ln | $47,405 | .16 | $137,800 | 15.9% | |
6814 Frank Lloyd Wright Ave | $48,900 | .17 | $138,600 | 15.3% | |
6822 Frank Lloyd Wright Ave | $48,900 | .16 | $136,500 | 14.9% | |
6826 Frank Lloyd Wright Ave | $48,900 | .16 | $136,400 | 14.9% | |
3325 Hackberry Ln | $48,900 | .19 | $120,100 | 12.1% | |
6753 Black Cherry Ln | $49,900 | .13 | $116,800 | 11.2% | |
6810 Frank Lloyd Wright Ave | $54,900 | .17 | $152,100 | 14.8% | |
3308 Hackberry Ln | $54,900 | .20 | $133,400 | 11.9% | |
2000 | 3513 Strawberry Loop | $39,500 | ? | ? | ? |
2001 | 6832 Erdman Blvd | $64,900 | .14 | $132,500 | 10.4% |
2002 | 6809 Erdman Blvd | $68,562 | .18 | $141,100 | 11.8% |
2004 | 6977 Apprentice Pl | $59,900 | .12 | $99,800 | 9.5% |
Lot 318 Ramsey Rd | $77,500 | ? | ? | ? | |
2005 | 6745 Phil Lewis Way | $92,500 | .19 | $117,500 | 4.5% |
6939 Harmony Way | $68,900 w/ home 384,909 | .12 | $98,900 | 7.2% | |
6736 Ramsey Rd | $85,000 w/home 471,102 | .13 | $105,800 | 4.1% | |
2006 | 3736 Pheasant Branch Rd | $150,000 | .19 | $142,400 | -1% |
3740 Pheasant Branch Rd | $150,000 | .19 | $142,700 | -1% | |
3760 Pheasant Branch Rd | $199,000 | ? | ? | ? | |
2007 | 3620 John Muir Dr | $140,000 | .15 | $111,600 | -5.1% |
3732 Pheasant Branch Rd | $150,000 | .26 | $159,300 | 1.6% | |
3332 Glacier Ridge Rd | $165,000 | .16 | $171,000 | 1% | |
3543 John Muir Dr | $185,000 | .32 | $156,300 | -3.9% | |
2008 | 3340 Glacier Ridge Rd | $139,900 | .11 | $142,700 | 1% |
2011 | 6825 Ramsey Rd | $164,900 | .14 | $132,500 | |
6853 Ramsey Rd | $172,000 | .15 | $136,300 |
*Data compiled based on MLS figures. Please note that many sales were not recorded in the MLS.
Property values have skyrocketed since the beginning of the decade. Since that time most have increased well over 10% annually. Toward the middle of the decade fewer lots were available and the price buyers were willing to pay increased dramatically. Most of these purchases were for well above the assessed value of the lots. The fact that earlier lot sales saw purchase prices only slightly above or near the assessed value combined with the increased demand and decreased availability of lots led to the dramatic difference in appreciation shown in the table above. However, recent sales also prove that today’s buyers are willing to pay above and in some cases well above the assessed value of land. So while assessments have fallen flat, maybe demand has not. Another factor is the neighborhood association. They have been controlling the pace of growth through the Middleton Hills master plan. The neighborhood is now in the 8th and final phase of residential development. The re-plat of the sixth phase added residential lots to Ramsey Rd. So far 5 have sold, one has an accepted offer, and six more are for sale. Of the 15 lots along Glacier Ridge Rd, 7 have sold and two more are currently for sale. Six additional lots have yet to be listed. These remaining lots have a prime location with incredible views and I expect they will sell for a premium.
