North Dakota
Land prices continue to set new records; South Dakota farmland netted $15,000 per acre
The sale costs for good cropland in rural America proceed upward, reaching new excessive factors in lots of states.
Farmers Nationwide Firm says the “file” sale costs proceed to seize headlines, however there has typically been continued power within the land market, with good cropland attracting probably the most consideration from consumers.
“The upcoming months will set the pattern in land costs,” says Randy Dickhut, senior vp of actual property operations at Farmers Nationwide. Lately, good cropland in Iowa bought above $25,000 per acre, $15,000 per acre in South Dakota, and $12,000 an acre in North Dakota. Additional east, Illinois had land gross sales above $21,000 an acre, Indiana at $17,000 an acre, and Ohio has seen $16,000 per acre. Land gross sales in Nebraska have been above $13,500 per acre, $14,500 in Missouri, and greater than $8,000 in Kansas.
Farmers Nationwide will likely be watching earlier than and after this 12 months’s harvest to gauge the longer term land market.