Cost Per Acre in Texas – Facts and Information on Land Prices
Land in Texas has historically been a go-to purchase for anyone looking for rural property. Year to year, Texas has continued to sustain consistent growth in both the sale of land and also the value of the average acre sold. Here we will be breaking down some facts and information on the cost of land per acre in the lone star state.
The Average Cost Of An Acre of Land In Texas
From 2020 to 2021, land sales in texas increased significantly. According to the Texas Small Land Sales Report of 2021, The total number of small land sales across Texas increased 34%, with 10,465 tracts sold. How much does an acre of texas land cost? This increase in demand and volume caused the average price per acre to grow 3.8% year-over-year to $6,471 an acre.
What This Means For Potential Buyers
For anyone looking to purchase land in Texas, this would signal strong investment value. This would also indicate that higher demand in the state will be a powerful force influencing the growth of the state’s economy. Many Industries that require larger acreage purchases will likely benefit from this momentum.
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, it is anticipated that there are stronger price increases ahead in the remainder of 2021.
How To Purchase Land In Texas
Getting started is as simple as checking out our inventory of land for sale in Texas available now. From there, getting in touch with an experienced local agent is crucial. They can help you find the best region, price, and property that matches all your specific wants and needs.