|Texas Land Market Semi-Annual Report||Texas Land Market Semi-Annual Report||Charles E. Gilliland, Erin M. Kiella, and Tian Su||2020-04-20T05:00:00Z||research-article||Land Markets|
About This Report
The Texas Land Market Semi-Annual Report contains an analysis of Texas land markets. The reported sales consist of a sample of verified transactions. The report does not include all Texas land sales. The statistics reflect a mixture of land uses and conditions and represent the market for large rural land tracts (the minimum land size is region-specific due to the varied tract sizes sold in each region). They reflect general trends without regard to land use or type. The analysis reports quarterly, annualized changes using moving averages as they generally minimize noisy, short-term fluctuations and provide a long-term indication of market trends. The median values are also reported as they are the most stable representation of market conditions at any point.
Users should regard the statistics presented here as indicators of past market conditions providing a general guide to land market trends. The reported data do not represent prices or values of any particular farm or ranch. Users should not regard the reported statistics as a substitute for an appraisal of a particular farm or ranch or as a market study of current local sales.
For historical data and data on Texas' Land Market Areas and Louisiana, Mississippi, and Alabama, go to recenter.tamu.edu/data/rural-land. The link will also direct you to Texas Rural Land Value Trends, a regional analysis of Texas markets by the Texas Chapter of the American Society of Farm Managers and Rural Appraisers.
Despite a less-than-robust oil and gas economy, Texas land prices were up 6.94 percent year over year to $2,972 per acre at the end of 2019. Demand for recreational and investment properties remained strong. However, independent oil operators, enthusiastic buyers in the past, have vanished from the current market. The typical size dropped 19.73 percent to 1,312 acres, indicating more small property sales in the current market mix compared with last year. The 5,960 reported sales fell 3.75 percent short of the 2018 volume. However, at $1.4 billion, total dollar volume expanded 12.09 percent from 2018. Overall, Texas statewide land markets maintained a vigorous level of activity with positive price trends.
Positive price conditions prevailed in all of the seven Texas regions. Even Far West Texas posted a small increase. The number of transactions declined in most regions but increased in several areas. Total dollar volume increased in the Panhandle and South Plains, Far West Texas, Northeast Texas, and Austin-Waco-Hill Country regions.
|Digital and Print||2268||https://www.recenter.tamu.edu/articles/research-article/TexasLandMarketSemi-AnnualReport-2268|| https://assets.recenter.tamu.edu/Documents/Articles/2268.pdf|