Small Land Sales Soar by Double Digits in Key Texas Markets
June 10th, 2015 | by Alicia Roberts
An updated contemporary homes sits on this 122.19 acre equine facility in Valley View, Texas. Listed for $1,695,000. Photos / Briggs Freeman Sotheby’s International Realty
Small land sales increased by 20.69 percent year over year, according to the new Texas Small Land Sales Report released by the Texas Association of Realtors.
In the region surrounding Dallas-Fort Worth, small land sales increased by 17.01 percent in 2014. Generally, small land tracts can have as little as 30 acres and as many as 160, depending on the topography of the region. The Texas Association of Realtors divides the state into seven regions.
4B Ranch | Glen Rose, Texas | Listed for $4,200,000
“Our Ranch and Land Division certainly has seen an increase in sales over the past year, in addition to many more significant listings,” said Robbie Briggs, President and CEO of Briggs Freeman Sotheby’s International Realty.
From the 2015 Texas Small Land Sales Report:
Scott Kesner, chairman of the Texas Association of Realtors, commented: “Land is a hot commodity in Texas. The demand for Texas real estate and the competitiveness of the market are as strong for mall land sales as they are in the residential housing market. Land for weekend getaway homes, ranchettes, and hunting continues to grow in popularity across the state as the Texas economy continues to prosper, particularly in areas surrounding Texas’ major metros.”
San Gabriel River Ranch | Burnet, Texas | Listed for $1,310,000
According to the report, 5,282 small land tracts were sold in Texas in 2014, a 20.69 percent increase from 2013.
Charles Gilliland, economist with the Real Estate Center at Texas A&M University, added, “Historically, the Texas land market has been closely linked to the performance of the oil and gas and agricultural markets, but right now that’s not the case. Oil, cotton and corn prices are significantly down, but small land sales in Texas remain robust and in high demand.”
Click here to read the full report.
This post originally appeared on the blog Boots to Beijing. President and CEO Robbie Briggs independently owns and operates Briggs Freeman Sotheby’s International Realtywith seven offices in Dallas, Fort Worth, Uptown, Lakewood, Ranch and Land, The Ballpark and Southlake.