Real Estate Term of the Day: Acre
ACRE – a 2-dimensional measure of land equaling 43,450 square feet. Note that size determines acreage, which may be land of any shape. (Barron’s Dictionary of Real Estate Terms)
The average lot size of a home in the western region of the U.S. is 10,062 square feet or roughly .23 acres. Whereas the average lot size of the entire U.S. is 18,433 square feet or roughly .42 acres.*
*source: http://www.census.gov/const/C25Ann/medavgsoldlotsize_cust.xls
