Despite a volatile stock market, depressed oil prices and a heated election year, land sales in Texas are still booming. In fact, they are even increasing in some areas of the state. Whether it’s recreational land or farmland, the demand is high and the prices are rising. This is due in part to the COVID-19 pandemic, as well as the ongoing trend of more people moving away from urban areas.
Generally speaking, the most affordable places to buy land in Texas are the Panhandle and South Plains region and Far West Texas. These regions offer an excellent opportunity to get some peace and quiet, while keeping close proximity to major cities like San Antonio. In contrast, land in the Hill Country and Brush Country offers a more luxury experience. This region is often used for recreation and hunting, and it’s more of a retreat from the daily grind. The average price per acre for these types of Texas land is higher than in other regions.
The state’s real estate research center analyzed Rapid Land Sales in Texas data to determine trends. The analysis considered the number of acreage tracts sold, as well as the dollar amount and location of each sale. This data was compared to the previous year, as well as the current quarter. The researchers found that statewide land sales peaked in 2021. During this time, the land-buying frenzy was fueled by both pandemic-related factors flight to rural areas and favorable investment factors low interest rates.
While land sales have slowed down a little since their peak in 2021, the demand is still high. As the population continues to grow, more and more people are looking for a place to call home, and this is driving prices up in Texas. Additionally, many investors are purchasing land as a form of investment. This is largely due to the decreased availability of other investments, as well as the fact that land is not a renewable resource.
When selling your land, it is important to understand the property tax structure in your area. This will help you determine what the potential value of your land is. Additionally, if you are selling your property for commercial or agricultural use, it’s essential to have a qualified land appraiser evaluate the property. This will ensure that you’re getting a fair price for your property.
Selling your Texas land can be a quick and easy process when you work with a company like Land Boss. These companies specialize in providing a streamlined and efficient process, with no realtor fees and flexible closing dates. This allows you to retain maximum proceeds from the sale of your property. However, it’s also important to be aware of common pitfalls when selling your land in Texas, such as ensuring that all legal issues are resolved and that your documentation is correct.
When you’re ready to sell your land, contact the team at Land Boss to learn more about our fast and straightforward process. We’ll be happy to answer any questions and help you get started on your next project.