Austin-Hill Country region land sales explode during pandemic
The region encompassing Austin, the Hill Country, and Waco represented 28 percent of the dollar value of the state’s rural land sales last year. That was the highest dollar volume among the six regions outlined in the report and was 26 percent above the region’s dollar volume registered in 2019.
Charles Gilliland, research economist at the Texas Real Estate Research Center, says in a news release that rural land sales in the combined areas of Austin, the Hill Country, and Waco “exploded” in the second half of 2020.
In the third quarter of last year, sales of small rural properties (10 to 50 acres) in that territory reached 1,103, marking the first time the region ever recorded more than 1,000 of those sales in a single quarter. The third-quarter figure in 2020 jumped 85.1 percent compared with the same period in 2019. The fourth-quarter figure dipped to 978, but that still resulted in a 70.7 percent rise versus the same period in 2019.
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