Odd moments in real estate pricing

94 pecksland.jpg

94 Pecksland Road, 5.86 acres and a 1936 teardown, sold last July 31st for $3.382 million (link is to that listing, rather than the current one, for clarity). At the time of sale the property had been surveyed, two house sites located and marked, and perc tests conducted. The buyer has now obtained town approval for a two-lot subdivision — a matter of right, for this property — and put two lots up for sale at $2.495 and $3.2 million, respectively. That totals $5.695 for those 5.86 acres. What accounts for this $2.313 increase in value?

Beats me.