Dallas-Fort Worth land is being snapped up like crazy, according to the most recent Texas Small Land Sales Report. The Texas Association of Realtors combed through 2016 data from the Real Estate Center at Texas A&M University to uncover where buyers are making their next big land purchase, and Northeast Texas leads the pack.
In 2016, the region had 2,230 small land purchases (200 acres or less) — a whopping 21 percent hike from 2015. In total, 42,138 acres were purchased in the area, representing almost 31.9 percent of all Texas small land sales. In Texas as a whole, there were 6,992 small land sales in 2016, a 4.2 percent increase from 2015.
"As our state's population continues to grow and the footprints of Texas cities expand, the demand for rural land will only increase," Vicki Fullerton, chairman of the Texas Association of Realtors, says in a release. "At the same time, after consecutive years of rapid growth in real estate land prices, prices in many regions have leveled off."
Unlike the regions where land costs decreased or plateaued, the Northeast area increased. The average price per acre in the region jumped 13.3 percent to $8,315 in 2016, much higher than the $5,647 Texas average. It's still less expensive than the $10,182 price per acre you'll find in the Gulf Coast-Bottom Brazos region, which encompasses Houston, in addition to miles of coastal property.
Northeast Texas has one of the most diverse ranges of land usage in the state. In addition to strong demand for pastureland as well as recreational properties, the region’s Piney Woods areas are also in high demand due to strong timber prices.