By Troy Corman, t2Ranches.com
The effects of Covid-19 have dramatically affected the sales of small and large acreage tracts in rural areas surrounding Dallas – Fort Worth, Houston and Austin. While some buyers have no problem viewing farm and ranch properties, we’ve experienced a few that want to wait until the spread of the virus slows further. Sales that closed in April and early May could have been properties put under contract before the dangers of the COVID-19 virus were realized.
The following data was harvested from Multiple Listing Services in Houston, Dallas – Fort Worth, and Austin TX ninety miles from downtown Houston, Austin and Arlington. We’ve compared sales in the last 30 days versus a year ago.
Below are the number of sales of tracts and homes with ten to twenty acres that sold in the last 30 days versus last year.
- Austin – 51 last year / 25 this year
- Dallas /Fort Worth – 82 last year / 52 this year
- Houston – 54 last year / 41 this year
Below are tracts and homes with twenty to fifty acres that sold.
- Austin – 21 last year / 18 this year
- Dallas / Fort Worth – 64 last year / 25 this year
- Houston – 38 last year / 23 this year
Below are tracts and homes with fifty to one hundred acres that sold.
- Austin – 12 last year / 7 this year
- Dallas / Fort Worth – 30 last year / 16 this year
- Houston – 17 last year / 11 this year
Below are tracts and homes with one hundred to two hundred fifty acres that sold.
- Austin – 16 last year / 2 this year
- Dallas / Fort Worth – 15 last year / 6 this year
- Houston – 9 last year / 6 this year
Below are tracts and homes with two hundred fifty acres and more that sold.
- Austin – 7 last year / 3 this year
- Dallas / Fort Worth – 4 last year / 0 this year
- Houston – 0 last year / 1 this year
With Covid-19 cases appearing to be on the downslide in Texas, and with more Texas businesses opening up, hopefully, we’ve seen the slowest period for real estate sales in the near term. Reports indicate that buyer traffic is increasing and low mortgage rates are flirting with going sub 3% on the 15-year mortgage loan.
Despite tighter lending on home purchases and refinances, farm and ranch loans are not under the same regulations and have not appeared to have been as negatively impacted.
If you need any help with land, or farm and ranch sales outside of Houston, Austin or Dallas – Fort Worth, call or text Troy at 832-759-1523 or 214-690-9682.