NLR’s 2023 Land Value Predictions Survey
Recently, the results of National Land Realty’s internal 2023 land value predictions real estate survey were released. Among the key findings is that while 2022 was a year with many properties appreciating, many agents see 2023 becoming a year of stabilization and limited depreciation (yet only a very small number of agents [7.54%] foresee a depreciation of more than 5%).
Agents are looking forward to 2023 being another busy year where they expect buyers to make use of opportunities offered by a limited price correction. They remain positive about their business prospects this next year with almost two-thirds [64%] either somewhat or very optimistic.
“Even with the macroeconomic headwinds on the horizon, most of our agents continue to be positive about their business prospects over the next year,” said Jason Walter, CEO of National Land. “Buyers continue to look for investments that offer stability in economically volatile times and land continues to be appreciated by investors for the stability it offers.”
The survey showed that there was a notable land appreciation in the rural land real estate sector in 2022 with almost two-thirds [64%] of agents seeing a slight to often significant increase in land values, with recreational, farmland, and residential being the standout types.
“What is significant is that while our agents are seeing a positive business outlook in 2023, they are nonetheless expecting a softening of land appreciation with almost a third of them not expecting any appreciation at all,” said Walter.
Key Survey Takeaways:
Land Values in 2022
Last year, brokers saw recreational land increase the most (49.07% of respondents), followed by farmland (20.37% of respondents). Residential was in third place with 17.59% of brokers saying that this type of land increased the most. Timberland (7.41% of respondents) and ranch land (4.63% of respondents) rounded out the top five.
2021-2022 Land Value Appreciation (based on % of agents)
| Appreciation | 2021 | 2022 |
| > 10.0% | 40.48% | 22.69% |
| 5.1%-10.0% | 26.19% | 16.81% |
| 0.1%-5.0% | 17.86% | 17.86% |
| No Increase | 8.33% | 14.29% |
| Decrease | 0% | 15.12% |
2023 Land Appreciation Agent Outlook (based on % of agents)
| Appreciation | % of Agents |
| > 10.0% | 3.36% |
| 5.1%-10.0% | 10.92% |
| 0.1%-5.0% | 13.45% |
| No Increase | 33.61 |
| Decrease | 32.77 |
About National Land Realty
National Land Realty (NLR) is the nation’s fastest-growing real estate land brokerage company specializing in farm, ranch, country homes, timber, recreational, and commercial development properties. Highly regarded for its proprietary land touring technology, Land Tour 360®, as well as its GIS land mapping system, LandBase™, which catalogs land data in extremely detailed ways, the company makes it easy to view and zero in on the right property in the right place. Founded in Greenville, S.C. in 2007, NLR has more than 80 offices in 40 states. To learn more visit www.nationalland.com or call (855) 384-5263.