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