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Land prices have dropped from a median high of $590,000 in 06 to $127,500 today. Put in another way, land today can be purchased at a 78% discount from the 2006 peak and at a 37.5% discount from 2003 levels.
Average prices rose 24% from a month ago. It will take a few more months of data through the summer to get confirmation of the uptrend.