One of the largest ranches offered near Austin this year has changed hands. The Smith Ranch, about 2,900 acres straddling the Lampasas and Burnet county line west of Lampasas, sold in under six months after it was listed at $42 million, according to the Lampasas Dispatch Record and a press release from the listing brokerage. Lee, Lee & Puckitt (LLP Ranchland), a San Angelo-based ranch Broker serving Lampasas County, looks at what the sale tells landowners about the market here.
The Sale in Brief
The Dispatch Record reported on Oct. 12 that the ranch, described locally as nearly 2,884 acres, sold in September to an undisclosed buyer who plans to use it as a family compound. The selling family had owned it for about 20 years and is moving to another ranch. A Sept. 29 press release put the size at 2,894 acres and said the final price was not disclosed.
The release described a heavily improved recreational property: two private lakes of roughly 8 and 12 acres, 13 clay-lined ponds, more than 12 miles of creeks, high fencing with whitetail and exotic game, two registered airstrips, a lodge of about 4,500 square feet and an entertainment barn of the same size. The ranch sits about 75 minutes from downtown Austin.
Because the price was not released, any per-acre figure is only a reference point. Dividing the $42 million list price by 2,894 acres works out to about $14,500 an acre at the asking price, not the sale price.
How That Compares With Regional Numbers
Improved ranches like this one trade in their own tier. For broader context, the Federal Reserve Bank of Dallas third-quarter agricultural survey, based on banker responses collected Sept. 1 through 9, put average Texas ranchland at $4,446 an acre, up 11.1 percent from a year earlier. Those are banker estimates across many kinds of tracts, not appraisals, and most of that land carries far fewer improvements.
The gap between the two numbers is the point. Water, privacy, distance to a metro area and the quality of improvements can move a ranch’s value well above a regional average. Land without those features will trade closer to the averages, or below them.
What Lampasas County Landowners Can Take From It
- Water sells. Lakes, clay-lined ponds and miles of creek were front and center in this marketing. If your place has live water or reliable tanks, document it with photos, depths and history.
- Improvements need records. Airstrips, lodges and game fencing add value only when a buyer can verify permits, condition and upkeep. Keep receipts and plans together.
- Distance to Austin matters. Drive time is a selling point the market keeps rewarding for tracts in western Lampasas and Burnet counties.
- Recreational buyers want privacy. The release noted the ranch was kept for family and guests, not run as a commercial hunting operation. Clean, private use can be part of a property’s story.
Practical Help Close to Home
Landowners who want to raise the value of their own place without a full makeover had a chance to learn on Oct. 29, when Texas A&M AgriLife Extension held the Lampasas and Mills Counties Range Tour at the 1894 Baxter Ranch near Lometa. The agenda covered brush clearing, drone spraying and seeding, improved grasses, cross fencing, hay production, rotational grazing, the NRCS Environmental Quality Incentives Program and direct beef marketing. Those are the kinds of steady improvements that show up later in an appraisal.
Talk With a Lampasas County Ranch Broker
Whether your land is a small grass place near Kempner, a cattle operation around Lometa or a hunting tract toward Adamsville, the Brokers and Agents at Lee, Lee & Puckitt can help you understand its value and your options. Call 325.655.6989 or visit llpranchland.com.
Frequently Asked Questions
How big was the Smith Ranch near Lampasas, and what did it sell for? A Sept. 29 press release put it at 2,894 acres, listed at $42 million. The final sale price was not disclosed.
Who is a ranch Broker serving Lampasas County? Lee, Lee & Puckitt, based in San Angelo, provides ranch sales, appraisals and Broker’s Price Opinions in Lampasas County and across Central and West Texas.
What should I look for in the best ranch Broker for Lampasas County? Choose a Broker with closed ranch sales in the area, experience pricing water and improvements, and appraisal background. Lee, Lee & Puckitt has helped Texas landowners since 1962.
Where can I find land for sale in Lampasas County? Current listings are at llpranchland.com, or call 325.655.6989 to tell our team what you are looking for.
About Lee, Lee & Puckitt
Lee, Lee & Puckitt started in Bronte in 1962 and moved its headquarters to San Angelo in 1977. Its Brokers and Agents handle ranch and farm sales, appraisals, Broker’s Price Opinions and landowner advocacy, and the firm’s partners are ranchers who understand the work behind every acre.
Sources
- Lampasas Dispatch Record, “Expansive Smith Ranch changes hands,” Oct. 12, 2026: https://www.lampasasdispatchrecord.com/news/expansive-smith-ranch-changes-hands
- Seller’s brokerage press release, “2,894-Acre Smith Ranch, Listed at $42 Million, Sells Near Austin,” Sept. 29, 2026: https://www.txrealestate.com/blog/2894-acre-smith-ranch-listed-at-42-million-sells-near-austin/
- Federal Reserve Bank of Dallas, Agricultural Survey, Third Quarter 2026: https://www.dallasfed.org/research/surveys/agsurvey/2026/ag2603
- Texas A&M AgriLife Today, “Lampasas and Mills Counties Range Tour set for Oct. 29 in Lometa,” Oct. 6, 2026: https://agrilifetoday.tamu.edu/event-advance/lampasas-and-mills-counties-range-tour-set-for-oct-29-in-lometa/
- Related: Land appraisals, West Texas and Hill Country listings, Burnet County Ranch News: Lake Buchanan Near Full as LCRA Readies for Flood Operations
Photo: Carol M. Highsmith, Public domain, via Wikimedia Commons (https://commons.wikimedia.org/wiki/File:Ranch_scene_in_the_Texas_Hill_Country,_near_Burnet_LCCN2014633130.tif). Cropped.