I know you didn't ask me but I'm going to throw my 2 cents out there. I'm an appraiser for the state of Texas certified to appraise vacant residential/commercial use all the up to developed minor industrial use (like warehouse industrial parks with the exception of the scales and utilities)

Land is it at the most ridiculous price I've ever seen and my coworkers who've been doing this for decades said the same thing. One of my jobs is to analyze sales that we've been given access to buy the buyers. And just as some examples from the last year and a half

There was an appraised price parcel of 17Ac. We had valued for 2022 at $545K roughly. It sold in the morning of july5th for $800,000 cash and then that afternoon it sold again for $1.2M.

Appraised parcel of 13Ac. We have at $130K (Less desirable location) its for sale for $1.3M and has had a $950K offer already.

Lots in subdivided neighborhoods that we had at $42K for .5 Ac sold for $92.5K for each of them.

Lots in another subdivision we're in a range of $18-22K for <.25 Ac. Those all wound up selling for $62.5K.

Don't even get me started on the amounts people have been willing to pay for some of the homes in these places. I feel bad sometimes for the people and the "deals" they're convinced they're getting