Business

Greater Houston Land Sales Up In 2016

A report by the Texas Association of Realtors shows small land sales in Gulf Coast – Brazos Bottom increased by 10 percent.

The Gulf Coast – Brazos Bottom region, which includes Houston, accounted for 18 percent of all small land sales in Texas in 2016.

Last year, sales of land below 42 acres increased by 10 percent over 2015. This includes a 31-county area called the Gulf Coast – Brazos Bottom region.

So what types of land are we talking about?

John Nugent, regional vice president at the Texas Association of Realtors, said a large majority is for second homes and recreational properties.

"They're people that want to live close to the city, they may go out just buy three or four acres somewhere and build their house on it to be out of your traditional subdivision," he said. "Maybe they want to raise chickens."

Other properties are for commercial development.

Nugent said land sales have gone up here every year since at least the 1980s. That despite the last couple of years having been bad for the oil industry, which has more of an influence on land sales here than on any other Texas region.

"More and more people are moving to Houston," he said. "Even in a down year, your net migration and immigration to this area, immigration really outpaced the (emigration)."

The average price per acre also went up – by 1.9 percent from the previous year to $10,182.

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Florian Martin

Florian Martin

Business Reporter

Florian Martin is currently the News 88.7 business reporter. Florian’s stories can frequently be heard on other public radio stations throughout Texas and on NPR nationwide. Some of them have earned him awards from Texas AP Broadcasters, the Houston Press Club, National Association of Real Estate Editors, and Public Radio...

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