Land is one of my favorite parts of this business, and it is one of the most misunderstood. Buyers who are sharp on a Highland Park home will walk onto a ranch and evaluate it like it’s a house with a bigger yard. It isn’t. Ranch and land is its own discipline, and in 2026 it is one of the most resilient corners of the Texas market. Here’s how I coach my buyers through it.
What is Texas land actually selling for right now?
Statewide, Texas rural land ran about $5,246 per acre in the first quarter of 2026, up roughly 6% year over year according to the Texas Real Estate Research Center at Texas A&M. But that statewide average hides an enormous spread. Remote West Texas can trade under $3,000 an acre, while land in and around the Dallas and Austin corridors can push well past $15,000 an acre because it carries development and appreciation potential the raw acreage in the Trans-Pecos never will.
The lesson: “price per acre” is a starting point for a conversation, not an answer. Location, water, road frontage, and the highest and best use of the tract drive value far more than the number itself.
What drives the value of a tract?
Water is king — surface water, well depth, and water rights can swing a property’s value dramatically. After that: access and road frontage, fencing and improvements, minerals, ag or wildlife exemption status, and proximity to a growing metro. A recreational ranch two hours from Dallas is priced on lifestyle and scarcity. A tract in a growth path is priced on what it could become. Knowing which story a piece of land is telling is the whole game.
What due diligence do buyers skip?
The mistakes I see most: not verifying the survey and true acreage, not confirming the ag exemption transfers, not checking the mineral and water rights, and not understanding easements running across the property. On land, the contract and the title work are where deals are won or lost, and there is no listing photo that warns you about a pipeline easement. This is exactly where having a broker who has closed land, new construction, and luxury homes earns their keep.
Thinking about land?
Whether it’s a recreational ranch, a legacy family property, or an investment tract in a growth corridor, I can help you buy it right. Start the conversation at txrootsglobalre.com.
THE AGENCY DALLAS LUXURY INDEX
Compiled by Damon Williamson, Broker & Owner, The Agency Dallas · July 13, 2026
Indicator | Current Reading |
|---|---|
Park Cities luxury price (YoY) | Highland Park median ~$2.85M, +3.8% YoY |
Broader DFW / Dallas median | ~$375K–$499K (city), entry & mid-tier softening |
Active luxury listings (Highland Park) | ~30–39 homes for sale |
Highland Park median | ~$2.85M |
University Park entry point | ~$1.5M–$2M for entry luxury |
Market balance | More balanced; ~38–43 days on market in prime areas |
HNW migration | DFW 6th in U.S. — 72,000+ millionaires, 16 billionaires |
The read: The Dallas market split in two this year, and the divide has never been cleaner. While starter and mid-tier homes softened by more than 3%, the luxury segment ($1M+) gained roughly 3.5% and the Dallas–Fort Worth metro accounted for nearly 39% of all Texas million-dollar-plus sales — about 4,992 luxury transactions worth an estimated $8.5 billion. High-net-worth buyers exiting California and the Northeast keep redirecting capital into Highland Park, University Park, and prime North Dallas, and the no-state-income-tax math continues to make that move an easy one. Inventory is healthier than it’s been in years, which means serious buyers finally have room to negotiate without the frenzy. For sellers, pricing to the market and marketing hard still wins — the luxury buyer is here, but they are discerning.
