Last year was a banner year for the real estate market in Texas, as small land sales surged throughout the Lone Star State in 2015.
The Texas Small Land Sales Report, released by the Texas Association of Realtors, found that small land sales increased 18.91 percent in the state to a total of 6,281.
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While the number of small land sales increased in the state, the average size of those lots decreased. Impacted by the high demand for land in Texas, the average sale size dropped 13.3 percent to 39 acres. However, those lot prices increased 10.21 percent to $5,657 per acre.
Five out of the seven regions in Texas experienced significant increases in small land sales. Far West Texas and the area surrounding the Gulf Goast decreased.
Houston land sales
The area around Houston was one of the only in the state that saw a decrease in small land sales. Over 2014, small land sales decreased 7.4 percent to 1,146. Despite this, the average price per acre and tract size increased annually.
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The demand for rural property in the outskirts of Houston has increased, causing an uptick in the average price per acre in these areas. City dwellers seeking a more low-key lifestyle outside of the city are a main factor in this surge.
Growth is still strong in Austin
The Austin real estate market is as strong as ever, seeing a 19.7 percent increase annually in small land sales from 2014. The Austin-Waco-Hill Country covers one-third of the small land sales in the entire state.
From the city of Austin to the recreational land surrounding it, lots in this region cater to people of all types of lifestyles. Land is highly sought after in this area, in large part because of the many lakes there.
