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2020 Regional Land Reports
You are here:   Landowners  »  Current Landowner News  »  2020 Regional Land Reports

January 2020 

View Landowner Reports for:  

Iowa and Wisconsin  

Illinois, Indiana, Ohio, Michigan, Missouri, and Arkansas  

North Dakota, South Dakota, and Minnesota  

Nebraska, Kansas, Oklahoma, and Texas  

Washington  

Georgia  

 

Iowa and Wisconsin 

What started out as a slow year in farmland sales has now picked up the pace as additional farms come on the market.  

  

"The first six months of the year were about as slow as I have seen the land market. Auction activity really picked up for Farmers National Company agents through the fall months and for the upcoming winter sales season," according to Sam Kain, area sales manager for Farmer National Company. The ongoing lower supply of land for sale on the market has helped support land prices.  

  

"Good quality cropland remains steady to strong. Farmers National Company recently sold a tract of land for $13,000 per acre, which was definitely above expectations. Lower quality land takes more time and effort to get it sold, which is more typical of Wisconsin farms due to the financial stress of the past few years in dairy. Good quality cropland sells well in the state while lower quality land or properties with dairy facilities struggle to sell," Kain said. 

  

Looking ahead into the coming year, attention turns to what is going to impact the farm economy and the land market. Producers are beginning to wonder if the current lower commodity prices will be the new normal for a while. Financial stress has increased for some individual farm operations and areas that may have had below average yields.    

  

"As the number of farms and amount of acres sold increases, there has to be adequate demand to support current land prices. We have been seeing more cautious buyers for several years and now we are starting to see fewer buyers interested in making a land purchase" said Kain. 

  

With the current land market sitting on a plateau for the past several years, landowners are asking questions about what to do if they are thinking of selling their farm.  

"We are getting sellers calling Farmers National Company looking for good advice about the land market and for the best marketing and sales strategy to get their land sold. These landowners want someone they can trust to sell their farm," said Kain. 

  

Iowa Land Values Graph  

  

Sam Kain, ALC, GRI, ABRM  

Assistant Vice President of Real Estate 

National Sales Manager for Iowa and northwest Missouri 

1-800-798-4509 

SKain@FarmersNational.com  

  

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Illinois, Indiana, Ohio, Michigan, Missouri, and Arkansas 

Farmland sales have picked up the pace after a slow start as additional farms come on the market, a trend that's especially true for the Eastern Cornbelt where sales activity has been markedly slower.   

  

"We are seeing a good increase in sale activity at Farmers National Company as we move into the winter months. Our agents are working with landowners with larger acreages who are deciding to sell their land," said Roger Hayworth, area sales manager for Farmers National Company. "The majority of those selling are inheritors or estates. Most of the sales are through private treaty listings today whereas a few years ago there were more auctions." 

  

The ongoing lower supply of land for sale on the market has helped support land prices.    

  

"Good quality cropland is in demand and remains steady. Lower quality land that has seen a price decline takes more time and effort to sell. The balance of supply and demand for land in the Delta region keeps the market fairly steady in that region," Hayworth said.    

  

Looking ahead into the coming year, attention turns to what is going to impact the farm economy and the land market. Producers are beginning to wonder if the current lower commodity prices will be the new normal for a while. Despite the historic late planting season, area yields were better than expected and near average. This, along with support payments, helps producers' financial condition in the Eastern and Southern Grain Belt.    

  

With the current land market sitting on a plateau for the past several years, landowners are asking questions about what to do if they are thinking of selling their farm.     

  

"We are getting sellers calling Farmers National Company looking for good advice about the land market and for the best marketing and sales strategy to get their land sold. These landowners want someone they can trust to sell their farm," said Hayworth. 

  

Illinois Land Values Graph | Indiana Land Values Graph | Ohio Land Values Graph | Michigan Land Values Graph | Missouri Land Values Graph | Arkansas Land Values Graph  

  

Roger Hayworth  

Area Sales Manager for Ohio, Indiana, Illinois, Michigan, eastern Kentucky, and eastern Missouri 

1-888-673-4919 

RHayworth@FarmersNational.com  

  

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North Dakota, South Dakota, and Minnesota  

The Northern Plains region experienced some of the worst planting conditions anywhere this past season with many unplanted or late planted acres in parts of South Dakota. The northern reaches had an extremely tough harvest season with snow, rain and a hard freeze that didn't allow the harvest of beets and potatoes to be completed.  

 

"There will be areas and producers who will be under increased financial stress after the 2019 season," said Brian Mohr, area sales manager for Farmers National Company. "The poor harvest in parts of North Dakota will impact farms and suppliers. South Dakota seemed to weather the storm better and Minnesota production was more normal." 

 

What started out as a slow year in farmland sales has now picked up the pace as additional farms come on the market. Weather and the effect of lower soybean prices as a result of the Chinese tariffs brought caution into the land market both for sellers and buyers. 

 

The ongoing lower supply of land for sale on the market has helped support land prices, Mohr noted. 

 

"Good quality cropland is in demand and remains steady. Lower quality land which has seen a price decline takes more time and effort to sell," Mohr said. "We are now seeing a good increase in sale activity at Farmers National Company as we move into the winter months. Our agents are working with landowners who are deciding to sell their land. Most sellers are inheritors or estates, but we expect we might see some additional land sales later in the year due to financial stress." 

 

Looking ahead into the coming year, attention turns to what is going to impact the farm economy and the land market. Despite the historic late planting season, most producers will tread water another year due to the various support payments. With the current land market sitting on a plateau for the past several years, landowners are asking questions about what to do if they are thinking of selling their farm.    

 

"We are getting sellers calling Farmers National Company looking for good advice about the land market and for the best marketing and sales strategy to get their land sold. These landowners want someone they can trust to sell their farm," Mohr said. 

 

North Dakota Land Values Graph | South Dakota Land Values Graph | Minnesota Land Values Graph 

 

Brian Mohr 

Area Sales Manager for North Dakota, South Dakota and Minnesota 

(605) 366-8333 

BMohr@FarmersNational.com  

  

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Nebraska, Kansas, Oklahoma, and Texas  

"Land sale activity across the Southern Plains has been quite varied and dependent on location, quality and use," said Paul Schadegg, area sales manager for Farmers National Company. "In general, good quality continues to sell while lower quality land struggles." 

  

During the fall, Farmers National Company auctioned a good quality crop farm in north-central Kansas for $8,800 per acre, which was near record for the area even though land prices are off the peaks by five years.    

  

"Our local agent did a great job talking with all the potential buyers and Farmers National Company did a full marketing campaign for the sale. We definitely reached the buyers," Schadegg said. 

  

Texas timber land and ranches are in demand from buyers and are holding or increasing in price.  In Oklahoma, Schadegg said that Farmers National Company has held a number of "good auctions selling both cropland and grass."  

  

"Nebraska land buyers are being more cautious, forcing sellers to be more realistic in a price that will consummate a sale," said Schadegg. 

  

Looking ahead into the coming year, attention turns to what is going to impact the farm economy and the land market and whether or not the current lower commodity prices will be the new normal. Financial stress has increased for some individual farm operators, but overall financial conditions in agriculture are adequate.    

  

With the current land market sitting on a plateau for the past several years, landowners are asking questions about what to do if they are thinking of selling their farm 

  

"We are getting sellers calling Farmers National Company looking for good advice about the land market and for the best marketing and sales strategy to get their land sold. These landowners want someone they can trust to sell their farm," Schadegg said. 

  

Nebraska Land Values Graph | Kansas Land Values Graph | Oklahoma Land Values Graph | Texas Land Values Graph  

  

Paul Schadegg, AFM 

Area Sales Manager for Kansas, Nebraska, Oklahoma, and Texas 

(308) 254-2826 

PSchadegg@FarmersNational.com   

  

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Washington 

The Pacific Northwest is sitting stagnant in regard to sales and offerings of land at the present time. Dryland prices have not varied much in the past 10 to 15 years. Irrigated land prices have skyrocketed over the past five to 10 years but have now plateaued as there have not been many properties changing hands commercially.   

  

Permanent plantings (orchards, blueberries and vineyards) are at a standstill. Labor, immigration, higher wages, H2A rulings and lawsuits, plus the trade paralysis with the Pacific Rim countries has created much uncertainty. There is a glut of apples, blueberries and wine grapes in production in the West. In addition, banks have tightened the purse strings and nearly created a lending freeze for growers who are marginal in qualifying for a loan. Additional land may come on the market due to financial stress.  

  

New investment partnership programs with buy-back options are appealing to some farmers and ranchers. This may be a workable solution for a financially stressed producer while others will not opt for it.    

  

Overall, the economy is good for most row crops. Permanent planting farms are in distress and the dryland grain region is holding steady. The volatility of agriculture across the region is not new. There have been these cycles before and most growers will try to ride out the storm.  

  

Washington Land Values Graph  

  

Flo Sayre, ALC 

Real Estate Broker for the Columbia Basin and Eastern Washington state 

(509) 544-8944 

Fsayre@FarmersNational.com  

  

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Georgia 

The value of Georgia land seems to be stable according to Wayne Groover, real estate broker for Farmers National Company. "But there appears to be some weakness showing up in recreational type properties. These properties appear to be selling to actual recreational users without any speculative pressure from the investor buyer". Most of these properties are strictly recreational in nature, with little to no short-term potential for growth in value or realized income and sale prices reflect that. 

  

"Timberland that is in a productive state appears to be holding its own with modest gains showing up here and there," observes Groover. Values are tied directly to production capability and/or state of production. Weak soils and/or wetlands put pressure on land value. 

  

Grover comments, "Good to exceptional farmland remains stable. However, with very little of this land type being offered for sale, one can only assume that any significant increase in offerings could potentially affect values negatively." 

  

Wayne Groover 

Real Estate Broker for Georgia and South Carolina 

(912) 489-8900 

WGroover@FarmersNational.com   

  

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