TAR Report: Double-Digit Growth for Small Land Sales in 2014TAR Report: Double-Digit Growth for Small Land Sales in 2014https://www.recenter.tamu.edu/news/newstalk-texas/?Item=101192015-05-29T14:55:00Z2015-05-29T00:00:00Z

The report showed that 5,282 small tracts were sold in 2014, a 20.7 percent increase from the previous year. This double-digit growth was consistent across all seven regions, with the exception of Region One (Panhandle and South Plains), which decreased 7.9 percent to 116 sales in 2014. For the second year, Region Seven (Austin-Waco-Hill Country) showed the most sales of any region, increasing about 19.2 percent to 1,722 during the same time frame.

The average price per acre for Texas small land sales also showed strong gains in most regions in 2014, increasing 3.5 percent year-over-year to $5,018 per acre statewide. Regions Two (Far West Texas) and Five (Gulf Coast-Brazos Bottom) were the only regions to show decreases in price, falling 47.2 percent to $1,635 per acre and 0.3 percent to $9,167 per acre, respectively. Region Five also had the highest average price per acre of any region.

Median tract size decreased slightly across the state as strong demand for Texas real estate continued. While the statewide median tract size remained constant at 20 acres, most regions showed 3 to 10 percent decreases in size. The exception was Region Two, in which the median tract size grew about 54.2 percent to 120 acres.

"Historically, the Texas land market has been closely linked to the performance of the oil and gas and agricultural markets, but right now that’s not the case," said Real Estate Center Research Economist Dr. Charles Gilliland. "Oil, cotton, and corn prices are significantly down, but small land sales in Texas remain robust and in high demand."

https://www.texasrealestate.com/news-releases/release/texas-small-land-sales-post-double-digit-growth-strong-price-increases-in-2Read more at {Source}

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