“Overall nationwide it looks like prices are up about 5% nationally, which is pretty good considering input costs and commodity prices right now. Some of the outlying areas we’ve looked at are California for example, which has seen a 27% decrease in farmland prices and is largely the result of declining commodity prices for things like almonds and walnuts,” stated CEO of National Land Realty Ronnie Richardson during a recent interview on RFD-TV.

Richardson went on to discuss how interest rates often impact land values more than population migration. He also touched on several other markets around the country that have seen significant land value increases like Florida and the Southeast in general. These insights come from a recent data release from National Land Realty which examined sales data from the first half of 2023 compared to 2024.

Learn more about 2024 land values in the full clip here!