Summer is here! With that brings vacation, family time, and triple-digit temperatures, which we’ve already experienced on multiple occasions. The good news is much of the state has been blessed with some good rains, and we pray that continues.

As we mentioned in last month’s newsletter, we will be unpacking the messages that came out of the 33rd annual Outlook for Texas Land Markets that our team attended in April. This month we would like to expand on the narrative around rural land prices. The repetitive message around land prices for the remainder of the year was that statewide prices are likely at near-term highs, we’ve experienced a 0 to 2% statewide price growth for 2024 overall, and Texas is expecting statewide prices to decline later this year and into 2025.

So what does this mean for sellers? If you’re considering listing your property in the near future, don’t wait! Now is the time to capitalize on what experts are expecting to be the height of the market in terms of pricing for the foreseeable future. To double down on this, inventory is still low, meaning that the lack of ranches for buyers to choose from, along with the prices expected to hold steady through the remainder of the year, equates to sellers being in a good position to list and sell for top dollar.

So what do these predictions mean for buyers? Stay tuned and we’ll unpack that in our next newsletter.

As for Capital Ranch Sales, we continued our momentum by closing three of our ranch listings in May and adding new inventory each week. As always, thank you for your continued support of our brokerage, and we will see you next month!