Texas Realtors Releases Latest Report Outlining Significant Increase in Small Land Sales in Texas

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It is said that everything is bigger in Texas, but according to the Texas Small Land Sales Report recently released by Texas Realtors, there is something to be said about the appeal of owning a small slice of the Lone Star State. Based on the latest findings, the number of small land sales in Texas increased significantly in 2020, with the price per acre skyrocketing to an all-time high.

10,465 tracts sold in 2020, with the total number of small land sales across the state seeing an increase of 34%, and the average price per acre 3.8%, annual growth to $6,471 an acre. As the pandemic continues to impact the ways we work, live, and play, Texans are finding opportunities to create their very own personal oasis.

“After spending a year in lockdown, and with so many Texans working from home, many buyers are seeking more space and are looking for land away from city life,” Marvin Jolly, chairman of Texas Realtors said in a press release. “These buyers are not only farmers and ranchers. Many are moving from out of state and are purchasing land in Texas due to the attractive opportunities and quality of land available.”

While significant growth was seen across the seven regions that make up the state, far West Texas saw the strongest increase with 53%, with the Austin-Waco-Hill Country region showing a 33% growth rate from the previous year. The report outlines the significant upswing in real estate trends not seen prior to the pandemic.

"I've never seen this high demand for small land before. The market for land has become as competitive as the market for single-family homes. Last year, land sales activity gained steam in the third and fourth quarter; this momentum has continued into 2021. Although the price per acre increased slightly in 2020, I anticipate stronger price increases ahead in the remainder of 2021," Charles Gilliland, PhD., economist with the Texas Real Estate Research Center at Texas A&M University said.

To learn more about the 2021 Texas Small Land Sales Report released in July, view the media release from Texas Realtors.