Community

Central Texas land prices climb amid hot housing market, report says

A new report shows the average price per acre in the Austin-Waco-Hill Country market reached $5,290 in the third quarter, up 30% year-over-year.

AUSTIN, Texas — Throughout the year, Austin’s hot housing market has been a major story and a focus of KVUE’s Boomtown coverage. Significantly higher home prices have become more commonplace. Now, a new report shows that demand is contributing to increasing land prices.

According to the latest numbers from the Texas Real Estate Research Center at Texas A&M University, the average price per acre in the Austin-Waco-Hill Country market reached $5,290 in the third quarter, up 30% year-over-year, the Austin Business Journal reported. The ABJ said nearly 60% more acreage was sold last quarter than in Q3 2020.

Written by KVUE Staff

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s