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News: CTCAR

Texas Small Land Sales Report June 2017

Monday, July 31, 2017  

Texas small land sales jump 14 percent, price per acre declines in 2016

Texas small land sales volume experienced strong gains in 2016, while the average price per acre declined slightly statewide, according to the Texas Small Land Sales Report released by the Texas Association of REALTORS on June 21st, 2017.

  • Texas small land sales continue to be one of the highest performing and fastest-growing segments of the Texas housing market, with small land sales increasing 14.2 percent from 2015 to just under 7,000 small land purchases statewide in 2016.
  • Growing shortages of prime land are affecting small land sales activity across the state. In some regions, land buyers are paying less for larger acreage tracts of less-desirable land tracts, such as those which require more development or are not ideally located.
  • Market trends are slowing from the aggressive growth seen from 2013 to 2015. The average price per acre of small land purchases in Texas declined 0.3 percent from 2015 to $5,647 per acre.
  • Greater acreage demand in Texas also meant increasingly smaller land tracts were sold in 2016. The average tract size for Texas small land purchases declined three acres from 2015 to 36 acres.
  • Industry developments also led to varying levels of land price growth across Texas. Rising prices of irrigated farmland are driving up land costs in agriculture-heavy regions, while residual effects of the oil and gas downturn are curbing small land sales activity throughout West and South Texas

View full press release here.

 



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