Estates, Sporting Properties
2020 Wellington Land Report
Produced by brokerage Atlantic Western Realty Corporation, the report examines trends in equestrian land sales in the South Florida enclave, known as the winter equestrian capital of the world. For the first time in more than a decade, the actual sales volume in Wellington dipped below $300 million with total recorded acreage traded falling to fewer than 600 acres. Since May 2019, 58 major Wellington equestrian and land transactions totaled $213 million, representing a 39% decline in sales. Price-per-acre likewise plummeted 21 percent with sales averaging $383,000 per acre. Single-family home demand throughout Florida, meanwhile, has surged since the second quarter, spurred on by historically low interest rates along with robust in-migration to the tax-friendly Sunshine State. As of the first of September, 117 Wellington Equestrian properties totaling more than 1,300 acres were on the market with inventory exceeding $800 million.
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â€œThis land is ideal for the investor seeking to increase his or her portfolio, or a local farm operator expanding an operation,â€ said Scott Shuman, head of Hall and Hall Auctions. â€œFor the hunter or outdoor enthusiast, this property offers a tremendous opportunity.â€ “> [ Read More â†’ ]