Texas Land Is Hot, Hot, Hot
To no one's surprise, land sales are up by 33% in 2015. The data, compiled by the Texas Association of Realtors, measures transactions 159 acres or smaller year-over-year.
The average price per acre of North Texas' 1,913 land sales in 2015 was just more than $7k, 11% cheaper than 2014. Average tract size is 19 acres. The hottest cities to buy are Lucas, Fairview, Gunner, Cedar Hill and Red Oak, where there's still room to spread out (but not for much longer).
Corporate HQ relocations such as Toyota, Liberty Mutual and JP Morgan fuel the hot real estate fire for incoming residents who often want room to own livestock and have the income to do it, but the Dallas Business Journal reports the evolution of technology allowing professional to work from home also plays a role. [DBJ]
