WACO (Waco Tribune) – According to research from the Real Estate Center at Texas A&M University, Texas’ rural land values dropped almost 7 percent last year statewide. However, several Central Texas counties had a 6 percent increase in land values.
The area made up of McLennan, Bosque, Hill, Coryell, Falls, Freestone, Limestone and Navarro counties had a median price per acre of $3,029 compared with the state median of $2,086.
Trey Hallmark, a broker for DuPerier Texas Landman, said the increase in land values in the northern sections of Central Texas were because of drilling deals in the Barnett Shale.
The Center also found that agricultural land, which is a separate category from rural land, has held or increased in value statewide.