Friends of mine just recently sold their place in Washington state and are moving to Kentucky. They listed it last summer, reduced the price either two or three times, and it finally sold for about 2/3 of the original asking price, which was also the appraisal price at that time.
A neighbor here has been thinking about selling her place and moving closer to town (elderly, poor health, no close family) and what it seems to be happening here is that land prices are pretty stable. Building costs have skyrocketed ... but more local people are looking for places closer to where they work and/or shopping, doctors, etc. so the existing places closer to town seem to be holding their value better, at least the listing prices don't seem to be going down. And there seems to still be a good supply of "outsiders" moving here, retiring, that are buying "country places".
In my neighbor's situation, being further out, with poor paved road access, only 3 acres and a single wide trailer, she has had no interest in her place when it was on the market and had it sold, could not have purchased a place in town for the price she was asking.
Prices on raw land in small parcels for building seem to be holding steady or going up, depending on how close to good highway access or towns it is, and good farm land is holding it's value as well ... but the price per acre hasn't gone up a lot over the years as long as the land is more suited to farming than "building".
