The Central and Eastern Hill Country again boggled
the mind with Telluride-like prices and large sales
dominating the headlines. Kendall County, in particular,
had some 50 to 150 acre creek sales in the Joshua
Creek valley hitting the $15,000/acre mark.
Surprisingly, some Guadalupe River parcels were
shopped hard at $10,000/acre with no takers, though
less-fashionable school districts proved to be somewhat
of a stigma to the buying public. A 160 acre parcel
with extraordinary water on the upper Blanco River
sold for $9,400/acre, with some other area sales
checking in at similar levels, though all had outstanding
natural water features. Those with no water flow
traded for up to the $4,000/acre range in northern
Kendall and southern Gillespie Counties.
Blanco County again showed sharp gains, particularly
along the US 281 corridor, though remote parts of the
county found some tracts with flowing water still
available for less than $3,000/acre. The Pedernales
River saw transactions topping $6,000/acre, and a
significant transaction east of Johnson City was reported
to exceed $8,500/acre. Generally, the closer to
Austin, the higher the price, with the 45 minute drive
time from the State Capitol showing up as a benchmark
for value. Sales for 25 acre tracts were brisk,
with the average price hovering around $8,000/acre.
A sale of about 165 acres on a live creek in the range
of $4,600/acre near Johnson City was reported. The
Wimberley area continued on its torrid pace, with a
value leap of about 20% for the year, though Dripping
Springs slowed a little, possibly due to a moratorium
on development in the immediate area. A significant
sale of 800 acres on Onion Creek near Driftwood
logged in at over $10,000/acre, while a 250 acre parcel
on Gatlin Creek between Dripping Springs and
Wimberley was reported at near $9,000/acre. Comal
County spiked, with several 150 acre sales verified at
$8,000+/acre. A sale of a 2,700 acre parcel between
New Braunfels and Canyon Lake was reported in the
$6,700/acre range. Another sale of 1,000 acre on I-35
near New Braunfels was verified at $8,500/acre, with
no utilities yet committed to the site. Blackland south
and east of I-35 could still be had for $2,000/acre or
less, though the possibility of major highways passing
thru has created a recent wave of activity spilling into
2006. |
