Lone Star State Land Values Hold Steady

The Texas Real Estate Center reports that the sales price per acre in Texas increased 3 percent in 2011 to $2,150. Total acreage transferred stayed roughly the same at just over 1 million acres. At 4,520, the total number of transactions was down 5 percent from 2010. Strong commodities prices fueled a higher demand for cropland, especially irrigated cropland, and parcels in the oilfields of West Texas. In the South Plains and Panhandle, prices jumped some 20 percent. Values in the northeast and southern parts of the state were much weaker.