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There is a very large range of land values in Ocala. Read more, below, about 7 factors affecting land values in Ocala and Marion County. Our property offers these premium features that place it in the above average range of values in the Ocala area:
Seven Factors Affecting Land Value in Ocala and Marion County
If you are new to Ocala real estate and have been researching farms or land for sale in Ocala and Marion County, you may find it confusing that there is such an extreme range of land values. For many other areas in the USA, there seems to be a tighter range of land values as well as a fairly clear relationship between size and price. In Ocala, you will find land trading anywhere between $8,000 an acre to $50,000 an acre. Why the extreme differences? Here are the factors that seem to affect land values in this particular locale. It is more than just “location, location, location”, it is also about “land type, land type, land type”:
1) Flood plain – Each parcel of land is classified according to the likelihood of flood. The most relevant criterion for evaluating flood areas is the “100 year flood” area, meaning that there is an expectation that a major flood will occur every 100 years. The more flood plain area on a piece of land, the less value it has since it affects what, if anything, can be built on the flood plain area. A good parcel in the Ocala area will have less than 10% flood plain area, whereas some parcels may consist of 80% (or more) flood plain. When considering inexpensive land, be sure to carefully review the publicly-available flood plain map.
2) Tree type and distribution – The “classic Ocala” look is a large piece of farmland with gently rolling hills and a number of old live oak trees. Live oaks are very slow-growing and achieving this classic look takes roughly 100 years in order for a sapling to become the majestic oak tree the area is known for. The oak trees spread outward, providing beautiful shade. The oak trees need sunlight and space around them to grow, and will only achieve their beauty and fullness when they are not crowded by other trees. In Ocala, the most expensive tracts of land will be dotted with a good number of well-spread out mature oak trees. On the other hand, if a parcel is wooded with pine trees, for example, beware. As real estate agents may tell you, yes, the land can be cleared for about $1500 per acre while saving the oaks. However, oak trees that have matured while crowded by other trees will frequently more closely resemble a telephone pole rather than a having a broad canopy. Just like “Charley Brown’s Christmas tree”, these cleared oaks will never transform into nicely-shaped trees. It is possible to transplant oak trees 6’ to 15’ tall (for a nursery we recommend Moondance Farm), but again due to the snail pace of growth, realize that realistically these young oaks will benefit future generations more than you or I.
3) Elevation – A large percentage of land in the Ocala area is flat and only 70 to 80 feet above sea level. If this is what you are looking for, you will probably find a bargain. If you desire higher elevation and the more classic look with rolling hills, you will need to search a bit harder and the land will cost more. The highest points in Marion County reach 200 feet above sea level. Higher elevations proved better views, as well as cooling breezes. Also equine enthusiasts know that slopes are preferable to flat land for developing horses’ muscles.
4) Soil type – The Ocala area is renowned as an ideal area for raising young horses, and a major reason is that its soils are infused with limestone, calcium, and other minerals that are beneficial for the development of young horses’ bones. Most of Florida’s water supply comes from the Floridan Aquifer, one of the world’s most prolific aquifers. This aquifer is a water-saturated layer of limestone which happens to rise close to the surface in northwestern Marion County. The ground water and the soil in this area are rich with calcium and phosphorous, both of which are essential for bone and muscle growth. The same soil type exists in Lexington , Kentucky. Be wary of parcels that have soil consisting of mostly sand. These parcels may be cheaper, but it’s for a reason. Sandy soil does not retain water well. It is preferable to have a natural mix of clay in the soil, to promote the growth of grass or other plants. Before making an offer on land it may be worthwhile to test the soil in various places on the property in order to learn about its composition.
5) Road frontage – Good frontage adds to the value of land. A property with poor frontage may have limited alternate uses in the future. Keep this in mind if the resale value of your property is important to you. Because of development, some Ocala properties have been left with little frontage. Also “flag lots” are not uncommon -- lots with a very long driveway as the only access. This is not a problem for a small parcel but can severely limit the use of acreage of 40 acres or more. Expect to receive a discount for buying a flag lot or parcel with limited frontage.
6) Accessibility – The closer to town, the more expensive the land will be. Typically, land in the Southeast of Ocala is the most expensive, as it is closest to jobs, shopping and hospitals. On the other hand, there are not many available large farms available in the area, as much of it has succumbed to development. The value of land in the Northwest will depend on accessibility as much as on distance. For example, a farm closer to a highway (I-75 or Highway 27) is more valuable because it is simply quicker to reach various destinations. On the other hand, land immediately adjacent to a freeway will have decreased value because of the noise, lack of esthetic value and pollution.
7) Large acreage versus smaller parcels – Ocala is known for its horse farms. Unfortunately a significant number of the larger horse farms have been carved up as a result of development over the past two decades. Many of the resulting 10-acre parcels (the minimum size without needing rezoning) were purchased by speculators rather than end-users. As a result there is an abundance of 10-acre properties on the market today in Marion County. On the other hand, there is becoming a scarcity of properties consisting of more than 240 acres. Following the principles of supply and demand, these larger properties may actually cost more per acre than smaller parcels.