Texas Panhandle and South Plains small land pricesTexas Panhandle and South Plains small land priceshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=8002015-06-17T11:52:00Z2015-06-10T00:00:00Z

REGION ONE LAND - Small land sales throughout Texas posted double-digit growth and average price per acre showed strong increases statewide last year, according to the 2015 Texas Small Land Sales Report by the Texas Association of Realtors.

Region One is the northernmost region in the state, encompassing the Metropolitan Statistical Areas for Amarillo, Lubbock, Odessa and Midland in addition to being bordered by New Mexico to the west and Oklahoma to the north and east.

In this region, small land sales consist of land parcels 159 acres or smaller. Small land sales in Region One are more influenced by farming and agricultural trends than any other region in the state.

Low corn and cotton prices have had a slight cooling effect on small land sales in the region, but not by much. Overall, the small land sales market in Region One continues to be strong.

Small land tract prices, however, continue to show significant growth. This was largely influenced by a rush from investors to acquire farmland investments in early 2014.

  • Region One had 116 small land sales in 2014, a 7.93 percent decrease from 2013.
  • The volume of small land sales for Region One comprised 2.19 percent of all small land sales statewide in 2014.
  • The median tract size for small land sales in Region One was 78 acres in 2014, a 3.7 percent decrease from 2013.
  • The average price per acre for Region One was $1,880 in 2014. This is a 12.32 percent increase compared to 2013. Adjusted for inflation, this equates to $334* per acre.
  • Compared to the rest of the state, small land tracts in Region One cost significantly less. Region One had the second-lowest price per acre in the state in 2014.

*Adjusted figures are in 1966 dollars.

For the full report, see 2015 Texas Small Land Sales Report with counties (PDF) pages 5 and 6.

Texas Association of REALTORS
https://www.texasrealestate.com/uploads/files/general-files/2015TexasSmallLandSalesReport.pdfRead more at {Source}

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