Texas land market activity slowed in fourth quarter 2018 but continued to show positive price trends, according to analysis conducted by Charles E. Gilliland, Erin M. Kiella, and Tian Su at the Real Estate Center at Texas A&M University. Overall land prices climbed at a moderate pace, reaching $2,779 per acre.
Energy sector activity stoked demand for recreational and investment properties, driving the statewide price up 5.1% over the fourth quarter 2017 price. Those results revealed a deceleration in the rate of increase posted in the previous three quarters. The 6,193 reported sales fell 79 short of 2017's volume. Total dollar volume ($1.29 billion) expanded 5.5% from 2017, reflecting a move to fewer total sales of larger properties.
Despite overall positive market conditions, some regions registered decidedly weak results. Prices declined in the energy-intensive regions of Far West Texas and South Texas, while the number of transactions declined in all areas except the Panhandle and South Plains and the Gulf Coast-Brazos Bottom.