While Florida’s land market may be in a state of transition, large-acreage and institutional land transactions are rising to the fore.
Sanders Real Estate brokerage firm conducted its “Lay of the Land 2024 Florida Market Report” and found more than 72,000 acres of agricultural land was sold and transitioned into residential, solar and commercial development in 2024. The analysis found there were some concerning issues in the trend last year.
“This transformation highlights both the state’s economic growth and rising land values, but it also raises concerns about the pressures on agricultural land. Farmers are facing challenges from rising costs and diminishing land availability, further complicated by the decline of industries such as citrus,” the report concluded.
“As Florida’s land market continues to evolve, the need for effective conservation strategies, including investment in conservation easements, has never been more urgent to ensure the preservation of the state’s agricultural heritage.”
The report followed land values in the Sunshine State since 2013 and found the continuing population growth keeps Florida as one of the nation’s top destinations for land purchases as 2025 plays out.
“Despite a slight dip in overall transaction volume, Florida’s land market remains competitive, driven by large-acreage deals and institutional investments,” said Dean Saunders, founder, managing director, and senior advisor of Saunders Real Estate. “While smaller investors pulled back due to rising interest rates and uncertainty, major players have leaned in, consolidating land and focusing on large-scale acquisitions. However, Florida’s economic growth and rising land values have placed additional pressure on agricultural operations, with higher costs and shrinking land availability.”
According to the report, ranch and recreational land continues to be purchased in the state but the market for tracts in the 50-to-500-acre range cooled. However, tracts in excess of 500 acres ramped up more interest from buyers.
Farmland purchases remain solid as well, with the average size of farmland transaction last year was 397.64 acres. The average price per acre was $10,403.56.
The amount of transactions on citrus land doubled in 2024 over 2023. There were 128 citrus land purchases in 2023 with most of those taking place in Polk and Hardee counties with 34 in Polk and 27 in Hardee. “These numbers indicate the growing interest for citrus acreage in these areas, likely driven by shifting land use trends and demand for agricultural properties,” the report stated.
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