As for pricing, your suggestion of $20,000 x 98 seems high for a sliver of road frontage to add a turn lane. Granted, you have the right to try to sell your property for whatever you think it is worth (unless it is a government taking for market value, or if you just don’t own the property in the first place), but that does not mean someone will buy it if it is overpriced. The developer likely has other options. Usually valuations in a situation like this are based on an appraised (or negotiated) value per acre or square foot, and then a survey determines the precise size of the sliver of land that is being conveyed at that rate.
Land Requires Different Sales Techniques – A home has a kitchen, bathrooms and a façade that can be visual and photogenic. You can hold an Open House for a home and walk a buyer through each room to help make the sale. Buyers can easily visualize themselves in – and fall in love with – the built home. It’s just not the same for vacant residential lots and land.