Land sales across the South Plains, which is generally defined as the area between Amarillo and Lubbock, were steady over the past two years.
Last year, the Texas Real Estate Research Centeer reported the average land sale on the South Plains was $1,120 per acre.
According to a Texas Rural Land Value Trends Report, irrigated cropland with good water was valued from $3,000 to $5,000 per acre with the rental range being $150 to $200 per acre.
Irrigated Cropland with fair water was valued from $1,100 to $2,500 per acre with the rental range being $100 to $150.
Drip Irrigation was valued from $1,600 to $3,300 per acre with rental being 1/3 of the crop.
Dry land wheat and cotton cropland were both valued at $800 to $1,000 per acre with the rental range being $25 to $45 per acre.
Rangeland was valued at $500 to $1,500 per acre with the rental range being $7 to $10 per acre.
Land enrolled in the Conservation Reserve Program was valued at $800 to $1,000 per acre and the rental range was $30 to $45 per acre.
The 2021 Texas Small Land Sales report showed a total of 10,465 small tracts sold at an average of $6,471 an acre.
The number of small land sales increased in all seven regions across the state.
The average tract size sold decreased from 32 acres to 30 acres.
The definition of a small land sale varies by region but is generally a land sale of 200 acres or less with the exception of Far West Texas where 500 to 8,000 acres qualifies as a small land sale.
The average price per acre for small land in the Panhandle and South Plains was $3,913 with 197 such sales reported. Small land sales in this region consist of land parcels of 159 acres of less with the average sale being 46 acres.