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Page 15 · column 2 of 5 · from the scan, no model involved
RESIDENTS and non-residents enter the same land market in Rappahannock but not with the same information and relationships. For a given parcel, one would expect non-residents to pay more than residents. If non-residents have a higher income, they would be able to purchase larger and hence lower price parcels.
The trend in the number of real estate transactions is upward. The 1973 number of sales was 143 percent of the 1963 percent of sales. The total value of land sold in 1973 was 492 percent of the 1963 value. During this period the price per acre rose from $187 to $648, while the average number of acres per transaction declined from 50 to 41 acres.
96.2%