National Drought Mitigation Center
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National Drought Mitigation Center
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California land with water rising in value
1/23/2015 2:32:52 PM



CATEGORIES:
Business & Industry
Water Supply & Quality
AFFECTED AREAS:
Napa County, CA
San Luis Obispo County, CA
Paso Robles, CA
Santa Barbara County, CA
Sonoma County, CA

Start Date: 1/22/2015 -  
The value of land with wells has risen in the Paso Robles area and also in Sonoma and Napa counties. Irrigable land in the Paso Robles area was selling for $15,000 to $20,000 per acre, compared to $3,000 for an acre of dry pasture. The price for irrigable land has increased dramatically during drought and is expected to climb as investors from Napa Valley and Sonoma look for good land, according to an analysis by the real estate investment company Pacifica Real Estate Group. The cost of land in the Napa Valley and Sonoma ranges from $75,000 to $100,000 per acre. Reuters, Jan. 22, 2015
Sources