What Does "Tract" Mean in Real Estate?

What Does "Tract" Mean in Real Estate?

In real estate, the term "tract" refers to a specific area of land that has been mapped and designated for development or division into smaller lots. This concept is commonly used in residential development, where a large parcel of land is subdivided into individual lots for the construction of homes. Each of these smaller lots within the larger tract may be sold separately to individual buyers, or a developer might build homes on the lots to sell the properties as completed units. Tracts are important in planning and zoning processes, as they help define the layout and use of land within a given area, ensuring orderly development according to local regulations.

Make real-time data your competitive advantage!

Schedule a demo below to see our multifamily analytics platform and APIs in action.