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Small land sales were strongest segment of Texas real estate in 2015

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Rural land with flowers in the foregroud and a tilled field in the background, separated by a barbed wire fence.

06/03/2016 | Author: Editorial Staff

Double-digit percent increases in the number of sales and price per acre pushed small land sales to the forefront of the Texas real estate market in 2015.

According to the Texas Small Land Sales Report, released today by the Texas Association of REALTORS®, there were 6,281 small land tracts sold in Texas in 2015, representing an 18.91% increase compared to 2014. Only Region Five: Gulf Coast-Brazos Bottom and Region Two: Far West Texas failed to show double-digit sales growth, with the latter still managing an 8.57% increase in sales.

Region Five: Gulf Coast-Brazos Bottom lost ground in terms of sales but saw the highest average price per acre, with land prices rising 9.44% to $10,002 per acre. The statewide average price per acre increased 10.21% to $5,657 per acre. Only two areas, Region One: Panhandle-South Plains and Region Four: Northeast Texas, saw their average price per acre decrease compared to 2014.

Changes in the average tract size varied by region, but as high demand and scarcity of prime tracts in some regions worked on the market, economists with the Real Estate Center at Texas A&M University explained that Texans increasingly view land as a wise investment.

Download the full report to see how your region’s small land sales fared last year.

Categories: Research
Tags: texas small land sales report, land sales, land, research

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The material provided here is for informational purposes only and is not intended and should not be considered as legal advice for your particular matter. You should contact your attorney to obtain advice with respect to any particular issue or problem. Applicability of the legal principles discussed in this material may differ substantially in individual situations.

While the Texas Association of REALTORS® has used reasonable efforts in collecting and preparing materials included here, due to the rapidly changing nature of the real estate marketplace and the law, and our reliance on information provided by outside sources, the Texas Association of REALTORS® makes no representation, warranty, or guarantee of the accuracy or reliability of any information provided here or elsewhere on texasrealestate.com. Any legal or other information found here, on texasrealestate.com, or at other sites to which we link, should be verified before it is relied upon.

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