COLUMBIA RIVER FRONT RESIDENTIAL LAND
What’s new along the river front? All the data presented in this discussion is from the MLS records. Property sold outside the MLS is not included here.
The land on the river front is all unique. Some sites have sandy beach. Some have rip-rap frontage. Some are in developed residential plats, some individual home-sites. Because of the uniqueness of all these sites it would be necessary to interview the owners and/or sellers to find out the unique characteristics of each. In this analysis no interviews were conducted. The notes in the MLS listings were relied upon together with county maps.
Remember when Columbia River frontage was $1,000 per front foot? I do. It hasn’t been a long time either. Of the sales I saw that occurred since the beginning of 2007 the rates per front foot ranged from about $4,600 to $6,000. At the upper end of this range is a sale that took place this month, and is now listed for just under $12,000 per front foot. It had been listed at the lower price for almost two years. The buyer is an investor that looks to the long term. We’ll see how that listing does.
The active listings provide a mix of properties. One, at the upper end of the rate per front foot is one in Steamboat Landing. It is listed at $1,000,000 or about $20,000 per front foot. Steamboat Landing is a gated community with a boat dock open to the public for slip rentals. Around 15 years ago a river front lot in Steamboat Landing was about $50,000. And, sales were slow. Things have changed. At the other end of the spectrum is a small lot off Image Lane. It is currently listed at $4,250 per front foot. Another in the upper part of the range of prices per front foot, there is an acre of sandy beach front available for $1,249,000 or about $10,000 per front foot.
As the frontage of the north shore of the Columbia River continues to be built upon the value of the land grows and grows along with the purchasing power of the dollar shrinking and shrinking.
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