2024 Land Market Update

Brogan Klein Commercial Advisor Bklein@NAIMartens.com 316.352.7315

1330 E. Douglas Wichita, Kansas 67214

2024 Land Market Update

Sedgwick County Ag Sales

Sedgwick County Ag Trends In 2024, there was a slight decrease in the price per acre, but a rise in the number of acres sold. This trend reflects a shift in market dynamics, where buyers took advantage of lower prices to acquire larger parcels of land.

Additionally, larger land transactions took place in 2024 compared to 2023, indicating increased investor confidence and demand for more substantial properties.

Agricultural sales in Sedgwick County are projected to increase in 2025 following a slight dip over the past couple of years.

In 2025, expect a rise in acres sold as the expansion of the Wichita area continues to drive new development and outward growth.

2022 Value

Acres

$/Acre

$/Sales

Industrial

27

$10,510,427

315

$33,366

$389,275

Commercial

94

$51,985,065

287

$181,133

$553,033

Total

121

$62,495,492

602

$103,813

$516,492

Sales

Value

Acres

$/Acre

$/Sales

Industrial

23

$7,121,831

69

$103,215

$309,645

Commercial

68

$64,536,754

310

$208,183

$949,070

Total

91

$71,658,585

379

$189,073

$787,457

Sales

Value

Acres

$/Acre

$/Sales

25

$8,615,315

139

$61,981

$344,613

Commercial

90

$45,701,412

611

$74,798

$507,973

Total

115

$54,316,727

750

$72,422

$472,319

2023

2024

Industrial

Value

Acres

$/Acre

$/Sales

Improved Farm

151

$69,703,756

6,306

$11,054

$461,614

Unimproved Farm

154

$72,693,302

11,246

$6,464

$472,034

Total

305

$142,397,058

17,552

$8,113

$466,876

2023 Sales

Value

Acres

$/Acre

$/Sales

Improved Farm

108

$60,005,106

3,607

$16,636

$555,603

Unimproved Farm

138

$61,247,124

8,728

$7,017

$443,820

Total

246

$121,252,230

12,335

$9,830

$492,895

Sales

Value

Acres

$/Acre

$/Sales

2024

Improved Farm

114

$63,904,115

4,735

$13,496

$560,562

Unimproved Farm

124

$55,985,828

9,369

$5,976

$451,499

Total

238

$119,889,943

14,104

$8,500

$503,739

Sedgwick County Development Trends

Sedgwick County Development Site Sales Sales

2022 Sales

In 2024, there was a notable rebound in development site sales, reflecting a renewed interest in expansion and growth. This trend is expected to continue into 2025, especially as Wichita continues to grow and develop, with suburban areas like Park City, Maize, and Goddard seeing increased demand for land. As these areas experience more residential and commercial growth, the demand for development sites is likely to remain strong throughout the year.

In 2025, demand for warehouses, distribution centers, and industrial parks in Sedgwick County is expected to grow, driven by e-commerce and supply chain needs. Land near key transportation routes, including I-35, I-135, US 54, US 400, the Kansas Turnpike, and the BNSF Railway, will remain highly sought after for these developments.