Enthusiasm for Texas’ rural land has waned, but that doesn’t mean land is getting cheaper
This time last year, north Texas land buyers were gobbling up the state’s undeveloped land for top dollar.
The rural land feeding frenzy isn’t over, but it has quickly slowed.
Statewide, the volume of rural land sales dropped 26.5% from mid-2021 to mid-2022, according to a new report from the Texas Real Estate Research Center. In Region 4, which encompasses northeast Texas, sales declined 32.1%
But, just because land sales have declined doesn’t mean prices have followed suit.
Land prices in Region 4 jumped 27.3% to $7,399 an acre. Throughout the state, prices surged 24.5% to $4,286 an acre.
“Second-quarter volume trends suggest cooling of the insatiable demand that has propelled prices and activity to record levels,” the report read. “In general, a pall of uncertainty smothers markets for all assets in the second quarter. However, such conditions often favor land investments.”
