2021 Texas rural land market ‘explosion’ brings record high prices
E-T staff report
COLLEGE STATION – Booming countryside sales that marked the third and fourth quarters of last year were just a prelude to what’s happened so far in 2021.
“In the aftermath of the COVID-induced economic lockdown, 2021 Texas rural land markets have exploded in a burst of activity,” said Dr. Charles Gilliland, research economist and rural land expert for the Texas Real Estate Research Center at Texas A&M University, in a news release.
First quarter 2021 sales of large acreage rural properties grew more than 50% in West Texas and 37% statewide compared to 2020. First quarter activity exceeded the record levels seen in the third and fourth quarter of 2020 in most areas.
Sales of rural properties in North Texas are surging, much like the phenomenon of residential home sales in cities and towns.
“Booming countryside sales that marked the third and fourth quarters of last year were just a prelude to what’s happened so far in 2021,” according to the Texas Real Estate Research Center.
“In the aftermath of the COVID-induced economic lockdown, 2021 Texas rural land markets have exploded in a burst of activity,” said Dr. Charles Gilliland, research economist and rural land expert for Texas A&M University.
Ann Bishop, broker and partner in the Bishop Realtor Group in Wichita Falls, is seeing the same thing.
‘A more relaxed mode of living’: Texas buyers head to the hills to escape pandemic Steve Brown, The Dallas Morning News
The rush to rural properties that began during the pandemic gained steam in the early months of 2021.
Texas rural land purchases hit a record $1.69 billion last year as buyers headed to the hills to escape COVID-19.
In the first three months of this year, the buying binge in the boonies continued with record purchases, according to the Texas Real Estate Research Center at Texas A&M University.
“In the aftermath of the COVID-induced economic lockdown, 2021 Texas rural land markets have exploded in a burst of activity,” Real Estate Research Center economist Charles Gilliland said in his new report. “First quarter 2021 sales of large acreage rural properties grew more than 50% in West Texas and 37% statewide compared with 2020.
North Texas home sales and prices revved higher in April
Home sales jumped 28% from a year ago as prices set a new record.
Real estate agents have sold more than 33,000 North Texas homes in the first four months of 2021.(Steve Brown )
6:00 AM on May 10, 2021 CDT
North Texas’ runaway housing market headed into the spring buying season with unheard-of increases in sales and prices.
Real estate agents sold 10,152 single-family homes in April 28% more than a year earlier. Condominium sales more than doubled.
And the median single-family sales price set a record at $325,000, 18% higher than in April 2020, according to the latest data from the Texas Real Estate Research Center and North Texas Real Estate Information Systems.