(UkiahDailyJournal) - The recent sale of a prime Ukiah vineyard this month may signal a welcome upswing in the value of Mendocino County wine country.

Tony Ford of NorCal Vineyards, a division of Remax Full Spectrum, said he recently sold the Alessi Ranch, a 75-acre property on Old River Road, to a Colorado couple named Jay and Anne Russell.

The property, which has 50 acres of chardonnay vines planted along the Russian River and was owned by the Thomas family, sold for $2.4 million, a price that Ford described as "confirming an upwards bull market trend in vineyard values in Mendocino County."

That price breaks down to $48,000 per "planted acre," and Ford said it was close to double what was being paid for vineyard acreage in the late 1990s, "when there was a big run on grapes."

Ford said the price was also significant because it was paid for a vineyard of white grapes, and "we haven't seen any white varietals sell at that price per acre."

Asked why the Alessi Ranch garnered that high of a price, Ford said it fits into an elite category only about 20 properties share.

"It has exceptionally great soil and incredible water rights," he said. "It has as many water rights as you can possibly have while being along the Russian River, in addition to an off-stream pond."

He said the property is a "strong performer" and the Russells do not plan to move here, but bought it as an investment.

"This sale is a great sign, and it's a great time to be in the industry right now," he said. "Grape growers here are finally making some money."

While $48,000 per acre is a great price for white varietal vineyards in Mendocino County, Ford said it still is nowhere near the price of similar vineyards in Napa County, which sell for between $200,000 and $400,000 an acre.