Pearson Realty, a California-based firm specializing in farms, ranches, and agricultural properties, reported sales between $500 million and $1 billion for 2024. The company, which has been operating for over a century, employs 21 agents who assist clients including banks, insurance companies, pension funds, municipalities, and other institutional organizations.
In 2024, Pearson Realty sold a portfolio of fruit trees—peaches, plums, nectarines—as well as some citrus and almonds. The transaction covered 11,708 acres across 52 escrows with a combined sales price of $310 million.
Reflecting on the year’s market trends, the company stated: “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.”
Looking ahead to 2025, Pearson Realty commented: “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.”