In April 2015, The Texas A&M Real Estate Center released a report on Texas Land Market Developments of 2014.
The report states that in 2014 Land Prices Overall Texas land markets posted strong price increases in 2014. Prices across most of the state continued to rise at rates similar to trends in the heydays of 2004–05. In contrast to this strong price appreciation, prices in the Far West Texas and West Texas regions retreated following strong price appreciation in 2013. Overall statewide land prices increased 9 percent above 2013 prices. The 2014 statewide price of $2,354 per acre was significantly higher than the 2013 year-end price of $2,160. The real or inflation-adjusted price of $418 per acre in 1966 dollars eclipsed the 2013 record level of $390 per acre by 7 percent. Nominal prices shown in Figure 1 and Table 1 reflect the actual prices paid while real prices represent those nominal prices adjusted for inflation to 1966 dollars. Texas Tract Size Small-sized transactions continued to reduce overall market size as the 2014 median of 118 acres fell just short of the 2013 size of 120 acres. That size remains well below the 160-acre norm, suggesting that the number of reported large property sales remains depressed compared with markets in prior years.
For the complete report, view/download here.