Want To Move To The Texas Countryside? Be Prepared To Pay More Than Usual
They say that everybody is moving to Texas, but not everyone is headed to major metropolitan areas like Austin, Dallas, or Houston. In fact, some are moving to the countryside instead. Even some native Texans are leaving the cities and heading for rural pastures. However, if you’re dreaming of owning your own ranch, and enjoying the country life, you’ll have to pay more than usual.
Last year, rural land sales in Texas reached record levels, with over 9,000 people buying countryside property. According to a study done by the Texas A&M Real Estate Research Center, the price of rural property has jumped 29%, with land in the countryside is selling for about $3,900 per acre across the state. In fact, last year over 840,000 acres were sold in Texas, which is a 53% jump from 2020. In 2021, people spent a total of over three billion dollars on property in rural areas in the state. That’s a 98% increase from 2020 alone.
While rural land sales are at an all-time high, transactions have tapered off a bit in the fourth quarter, which is a sign that the market might be cooling off. However, with the high demand for real estate in the country, coupled with a lack of rural property listings, the market could pick up again at any time. In fact, some brokers are seeing activity increase already.
So, if you’ve always wanted to move out to the country, you’d better act now. Not only are there limited listings for rural properties in Texas, but the price per acre seems to be increasing every single day.
You can read the study from the Texas A&M Real Estate Research Center for yourself by clicking here.