Interest in Texas Ranches Continues to Increase
January 8th, 2015 | by Alicia Roberts
Bitter Creek Ranch has amazing water features not commonly found on working cattle ranches in this part of the state. Much of the ranch was originally part of the historic J.A. Ranch (Charles Goodnight) and was known as the “Mare Pasture.” Listed for $ 33,861,275. Photos / Briggs Freeman Sotheby’s International Realty
Long before Texas gained a reputation for its fast-growing, modern cities, the Lone Star State was known for its land. Whether you’re considering anches and landscapes – wide open spaces perfect for enjoying as is or, in some cases, developing – or searching for the perfect spot to build your family home, Texas has it.
Our reputation for extraordinary ranch and land opportunities hasn’t diminished – and won’t diminish for the foreseeable future. So we asked our expert agents at Briggs Freeman Sotheby’s International Realty: Where are land values headed into 2015? Here’s a roundup of their analysis.
Circle 12 Ranch | Listed for $10,800,000
A: Within the past 12 months, we have seen an increase in sales activity for large ranches due to easing drought conditions and higher cattle prices. Ranches that have been on the market for some time have started to sell, and that has driven market values to increase. We are seeing the market respond in a positive way to lower interest rates and a thriving energy industry. Briggs Freeman Sotheby’s International Realty Land and Ranch Division anticipates this trend to continue through 2015.
A: The value of well-located land within two hours of DFW has been increasing since 2012 and will continue to increase as people look for an alternative investment to the stock market and even other real estate that is super hot. More than 1,000 people are moving into North Texas every day, adding to the pressure on land prices. Land values have a robust outlook for 2015, and land is one of the few investments you can use and enjoy while it appreciates.
Robinson Ranch | Listed for $10,395,625
A: Particularly in the areas close to the DFW core and fanning out from there, land values will continue to increase through 2015 for commercial and residential. Demand for office space is intense, particularly in Uptown. And people will pay a premium for those rare, large residential lots in the best neighborhoods – though smaller lots are in demand, too, for smart-sizers and empty-nesters. Buy now instead of in nine months. You won’t get a deal if you wait.
A: Land prices in the North Texas market should continue rising through 2015, according to the latest analysis. That trend makes sense, as more people want homes with smarter systems and use of space. Lots in University Park are in great demand, and builders will pay $3-4 million for premium Highland Park lots. Scrape-and-build sites also are sought after – but rare – in Devonshire, Briarwood and Lakewood. A savvy, well-connected Realtor is key to finding a good lot in this market.
To see more extraordinary ranch properties, visit our Ranch and Land Division.
To find a residential lot, click here.
President and CEO Robbie Briggs independently owns and operates Briggs Freeman Sotheby’s International Realty with seven offices in Dallas, Fort Worth, Uptown, Lakewood, Ranch and Land, The Ballpark and Southlake.