$1M+ ranch sales, pricing and inventory in Blanco, Burnet and Gillespie counties, by Tallon Martin, Republic Ranches
Key takeaways
- Buyers moved up in price. 12 of the 13 verified $1M+ ranch sales in Q3 2026 were over $2M.
- The top end was busy. 6 of those 13 sales were over $5M.
- Closings held close to last year. Blanco, Burnet and Gillespie counties closed 13 ranch sales in Q3, compared with 14 a year ago.
- Year to date is down 11%. There were 39 closings through September, compared with 44 at this point in 2025.
- Inventory is thinning at the top. $5M+ listings fell 10% from a year ago, to 37.
Hill Country ranch market snapshot, Q3 2026
| Metric ($1M+ ranches) | Q3 2026 | Q2 2026 | Q3 2025 |
|---|---|---|---|
| Closings | 13 | 10 | 14 |
| Closings year to date | 39 | – | 44 |
| Active listings (quarter end) | 181 | 168 | 186 |
| New pending sales | 6 | 8 | 12 |
| Sale price vs. original list | 88.8% (2026 to date) | – | – |
| Average days on market | 262 (2026 to date) | – | – |
Q3 covers July 1 to September 30, 2026. Sale-to-list and days on market cover the 26 verified sales from January 1 to September 30, 2026.
The Hill Country ranch market
The Hill Country held up better than the headline numbers suggest. Closings were close to last year, and the sales that did close skewed large.
The typical verified sale this year was about $4.0 million, and 73% of those sales included a home.
The Hill Country continues to draw high-net-worth buyers. They are looking for big views, live water, unique features, and proximity to towns like Fredericksburg, Llano and Johnson City. The number of large sales here this year has been one of the bigger surprises for me.
County by county
County detail comes from 26 verified sales in ABOR and Land.com records. Our quarterly tracking counts 39 closings, so county figures cover most, but not all, of the activity.
Gillespie County ranch market, Q3 2026
Gillespie had the most ranch sales in the Hill Country in 2026, 11 of 26, including 6 in Q3. Its ranches averaged about $24,600 per acre, the highest of the three counties. They also sold closest to asking, at about 93.8% of the original list. This is unusual in the ranch market these last few years. You typically see a price reduction or two before it sells, but this shows otherwise at least in Gillespie county.
Burnet County ranch market, Q3 2026
Burnet had 8 of the 26 Hill Country ranch sales in 2026, 4 of them in Q3, averaging about $20,500 per acre. Burnet's average is lifted by a 55-acre Highway 29 tract marketed for its commercial potential, which sold for about $33,600 per acre.
The proposed Oncor/LCRA 765-kV transmission line has been a real concern for landowners in Burnet and San Saba counties, where the proposed routes run. I wonder whether some buyers are waiting to see the final route before they begin looking in the area.
Blanco County ranch market, Q3 2026
Blanco had 7 of the 26 Hill Country ranch sales in 2026, 3 of them in Q3. 5 of the 7 sold for more than $5 million, making Blanco the high-end county of the three, this year at least.
On the flip side, Blanco ranches also took the longest to sell, averaging about 413 days.
Sales by price range
$1–2M: 7 verified sales in 2026, 5 of them in Gillespie County. Only 1 closed in Q3. Listings fell 6% from a year ago, to 59.
$2–5M: 9 verified sales. Burnet had 5 of them. Listings rose 4% from a year ago, to 85, the most of any range.
$5M+: 10 verified sales, the most of any range. Listings fell 10% from a year ago, to 37.
Together, the tiers say the top end is where sales are happening, and $5M+ inventory is getting thinner.
What sold: features buyers paid for
Smaller tracts sell for more per acre. Under 100 acres, the median was about $24,600 per acre.
Larger ranches held their value well. Between 100 and 250 acres, the median was about $20,500, and above 250 acres it was about $16,500.
Most Hill Country buyers chose a ranch with a home: 73% of verified sales included one. I'd be careful reading too much into the house. Typically, buyers put less weight on the house than on what it cost to build because it is not what they would build, and so they adjust for the value they see in it today and account for renovations they plan to do.
Water sells. In Burnet County, a 170-acre ranch with a custom home overlooking a 4.2-acre fishing lake sold in 1 day at about 97% of its asking price. This comp shows that when you have what buyers want, they move fast and they do not mess around with price.
Cash is common. 5 of the 11 Hill Country sales recorded in the MLS this year were cash purchases, and 2 more were seller-financed. Historically, as a company, we have seen a majority of buyers pay cash across all tiers
Pending sales and outlook
New pending sales slowed to 6 in Q3 2026, down from 12 a year ago. October brought 2 more.
I am optimistic that activity will pick up in the fourth quarter once the midterm elections are behind us. I don't expect a surge, but ranches that are well kept, unique and fairly priced should see stronger interest than they have over the month of October.
What this means for sellers and buyers
If you're selling in the Hill Country
Price for today's market rather than the COVID-era peak. Buyers have not accepted those numbers. The outliers are unique live water or big water properties. The data shows me it is worth testing the market, but if offers don’t roll in fast, adjust your pricing to be more in line with the market.
Well-kept, unique ranches above $5M are selling: 10 of 26 verified sales this year, while $5M+ listings are down 10%. That is a good setup for the right property.
Expect a long runway at the top. Blanco ranches averaged about 413 days on the market this year.
If you're buying in the Hill Country
Expect competition for well-kept, unique ranches above $5M. Between $2M and $5M, buyers have the most choices, with 85 listings.
Gillespie ranches are selling at about 93.8% of original list, so there is less room to negotiate there.
Landowner questions
What do ranches sell for compared to asking price in Gillespie County?
So far in 2026, $1M+ ranches in Gillespie County have sold at about 93.8% of their original asking price, the closest of the three Hill Country counties. Across Blanco, Burnet and Gillespie, the average was about 88.8%, after about 262 days on the market.
Is the 765-kV transmission line affecting ranch sales in Burnet County?
It is too early to tell from the numbers. The proposed line has been a concern for many landowners in Burnet and San Saba counties, and some buyers may be waiting for the final route before looking there. Burnet still had 8 $1M+ ranch sales in 2026, the second most in the Hill Country.
Are $5M+ ranches selling in Blanco County?
Yes. 5 of Blanco County's 7 verified $1M+ ranch sales in 2026 were over $5 million. They take time, though: Blanco ranches averaged about 413 days on the market.
Data sources and method
Sources: Land.com, ABOR (Austin Board of Realtors MLS) and Republic Map.
Criteria: $1M+ farm and ranch sales on 30 or more acres in Blanco, Burnet and Gillespie counties.
Dates: Q3 covers July 1 to September 30, 2026. Year to date covers January 1 to September 30, 2026. Pending sales run through October 2026. Listings come from our monthly tracking, counted at the last month of each quarter (September for Q3).
Sales counts and year-over-year trends come from our quarterly tracking. County, price range, price per acre, home and sale-to-list figures come from 26 verified sales, with duplicates removed and ABOR records kept over Land.com.
Texas is a non-disclosure state, so figures reflect reported sales only. Land.com sales that listed a sale price equal to the asking price count as sales but are left out of price per acre and sale-to-list figures. Averages based on 2 or 3 sales are directional.