LAKELAND, FL, March 12, 2025 – Florida’s land market experienced a notable transformation in 2024, with large-acreage transactions driving sales despite an overall decline in volume. The latest Lay of the Land 2024 Florida Market Report, which was released on February 28, 2025 by Saunders Real Estate, reveals a dynamic landscape, highlighting the growing influence of institutional investors and high-net-worth buyers. Now in its 15th year, the report offers an in-depth look at land sales across the state, drawing from over 1,000 verified transactions and insights from key industry players.
DOWNLOAD THE LAY OF THE LAND MARKET REPORT
A significant trend in 2024 was the conversion of more than 72,000 acres of agricultural land into residential, solar, and commercial developments, signaling Florida’s ongoing expansion. 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. 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 tracks land value trends in Florida since 2013, revealing how the state's business-friendly policies, lack of income tax, and steady population growth continue to position Florida as a top destination for land buyers as 2025 unfolds.
"Despite a slight dip in overall sales 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.”
“The decline of Florida’s citrus industry, once a cornerstone of the state’s economy, illustrates the broader challenges facing agricultural landowners. As we move through 2025, Florida’s pro-business climate and population growth continue to fuel strong demand for land. Yet, the ongoing transformation of agricultural land highlights the critical need for preservation efforts. Creating a balance between growth and sustainability is essential, and we must place emphasis on land conservation initiatives to protect Florida’s agricultural heritage while ensuring the state’s long-term economic prosperity."
According to the report, in 2024, Saunders Real Estate brokered $818.5 million in transactions, bringing its total to nearly $4.47 billion since 2014. The firm recently rebranded, transitioning from the SVN franchise to an independent brokerage specializing in large-acreage land across Florida and the Southeastern U.S. As part of its growth, Saunders Real Estate has expanded its services and opened new offices in Alabama, Arkansas, Florida, and Georgia.
The Lay of the Land report highlights the real estate markets across Florida’s Treasure Coast, Panhandle, Homestead, and Everglades Agricultural Area. Some of the report’s key findings include:
Ranch and Recreation Land
The land sale data from 2023 to 2024 paints a picture of a slowly cooling market in the 50-500 acre range. While on the contrary, the 500+ acre tracts continue to generate more and more buyer interest as they become fewer and less common.
Transitional Land
Florida's transitional land market remained strong in 2024, with rising per-acre prices reflecting continued demand across Florida, particularly in high-growth regions.
Conservation
Florida allocated over $567 million to land conservation, reflecting a strong commitment to preservation. Conservation easements secured more land than fee simple acquisitions – 79,925 acres vs. 35,400 acres – at a lower cost per acre. Fee simple acquisition costs surged 130% from 2023 to 2024, reflecting rising land value and demand. Conservation easements cost approximately $2,988 per acre in 2024, making them a more cost-effective option than fee simple acquisitions at $7,186 per acre.
Residential Land & Lots
Florida’s real estate market remains strong, particularly for residential land. The demand for new communities is as strong as ever, and current trends suggest it will remain that way. From 2023 to 2024, land prices increased in 12 counties and lot prices also increased in 14 out of 18 total counties.
Farmland
The average farm size sold in Florida in 2024 was 397.64 acres, showcasing the prevalence of mid-sized to large-scale agricultural properties. The average price per acre was $10,403.56, reflecting strong demand for fertile land and prime locations.
Citrus
When comparing the volume of citrus land transactions between 2023 and 2024, the amount of transactions doubled. Of the 128 transactions, the majority took place in Polk and Hardee counties - two of Florida's most active regions for agricultural real estate. Polk County led the way with 34 transactions, followed closely by Hardee County with 27. These numbers indicate the growing interest for citrus acreage in these areas, likely driven by shifting land use trends and demand for agricultural properties.
Timberland
After the peak of post-Covid market activity in the timberland segment in 2022, activity in 2023 seemed somewhat subdued by comparison, and 2024 activity was slightly down from 2023. Although there were buyers still actively seeking investment opportunities, enthusiasm for making large financial commitments seemed to be negatively affected by the uncertainty of the direction of the economy and the outcome of the November national elections.
Solar Power
In 2024, solar-related transitional sales reflected a continuing trend of land acquisitions for renewable energy development. This year, our verified sales data recorded nine transactions totaling 15,240 gross acres dedicated to solar-powered projects, amounting to a total sale value of approximately $107,264,848. Compared to previous years, this data suggests a shift in the types of properties being acquired and the regions being targeted for development.
About Saunders Real Estate
Saunders Real Estate is a leading land and commercial real estate brokerage serving buyers,
sellers, investors, and landowners across the Southeastern United States for nearly 30 years. With over 125 advisors and offices in major U.S. markets, including Alabama, Arkansas, Florida, and Georgia, the firm specializes in large-acreage land transactions, commercial property sales and leasing, and property management.
To reflect its legacy and continued growth, Saunders Real Estate operates through two divisions—Saunders Land and Saunders Commercial. The firm's expertise spans agriculture, conservation, recreation, residential development, and commercial real estate, supported by specialized services such as forestry, land management, and investment acquisitions.
Today, Saunders Real Estate is recognized as a trusted authority in the region, delivering
exceptional results through experienced leadership, innovative strategies, and a client-focused
approach.