PEARSON REALTY - 2024 Sales: $500M–$1B

Who: More than 100 years of service that specializes in farms, ranches, land, and agricultural facilities across California. Our 21 agents offer expertise in assisting buyers and sellers of agricultural properties, including a substantial number of transactions representing banks, insurance companies, pension funds, municipalities, and other institutional organizations.

WOW: Sold a portfolio of fruit trees (peaches, plums, nectarines), along with a small portion of citrus and almonds, totaling 11,708 acres. There were 52 escrows involved with a combined sales price of $310 million. What was your take on 2024? The California irrigated farmland market saw a decline in overall land value depending on the water, commodity, soils, and location. Properties in low-risk water areas declined 8 to 12 percent; high-risk water areas saw declines of 15 to 20 percent. Activity was still strong, with buyers looking to secure property with good water and investors looking to deploy capital into good properties with an expectation of long-term appreciation and income.

How is 2025 shaping up? Almond prices have increased 40 percent since last August, and we expect them to continue to climb as the state prepares for a light crop this year. Activity has increased, but there are still signs of further softening in land values due to an oversupply of irrigated farmland for sale.