The big takeaways from the US land sales statistics in 2018 were that the Texas / Oklahoma region (Region 8) accounted for 23% of US land sales in 2018. As the Texas / Oklahoma region dominated land sales in 2018, they were reported in the following categories by market share.
- 40% Ranch Sales
- 26% Recreational Land
- 16% Residential Land
- 10% Agriculture Land
- 3% Commercial Land
- 1% Development/Other Land
I would suspect that commercial land and development land sales were under-reported since those categories are most often sold “off-market”, or often don’t have sales prices publicly reported in Texas.
Other takeaways from the NAR Land Report for 2018 are that the average price per acre for all land sales averaged $4,500, declining from $5,500 in the 2017 report.
The categories enjoying the largest price increases included irrigated agricultural land rising from $6,388 and acre to $9,975 per acre – and ranch acreage rising from $2,921 an acre to $4,215 per acre.
Local banks were the leading lenders for land purchases that involved financing in 2018.
The average size of land sold per transaction declined to 53 acres.
If you would like more specific land price statistics in Texas, contact Troy Corman at troy@t2ranches.com.
Attached below are a few slides from the National Association of Realtors Land Report Sales Statistics for 2018.
