Lone Star State Holds 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.
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Click here to download a copy of our June 2012 newsletter.More Field Reports From The Land Report:
- Corn Belt Continues to Skyrocket
White-hot farmland values in the Heartland show no signs of cooling off. –The Editors The Chicago Fed reports that agricultural land values in the five-state district jumped 19 percent higher...