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2019 Regional Land Reports
You are here:   Landowners  »  Current Landowner News  »  2019 Regional Land Reports

June 2019 

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 

Location and quality are key drivers of land prices in Iowa and Wisconsin despite the overall slower land market.    

  

"There have been some strong sales for high quality farm land in Iowa and for recreational land in the right location for the buyer" said Sam Kain, area sales manager for Farmers National Company. "We are starting to see increasing signs of financial stress among farmers."  

  

This is particularly true in the Wisconsin dairy industry as farmers either retire or sell assets including land. In Iowa, the stress on farmers varies by area depending upon crop yields the past several years. Farmers National is experiencing a growth in acres for sale in both states due to financial problems for farmers.  

  

Buying interest for land has remained adequate for the amount on the market for sale, but the buyer profile has changed somewhat.  

  

"The farmer buyer is being more cautious and more selective in the farms they will bid on. The 1031 exchange buyers have been active and continue to support current land prices. Investors are also active buyers depending on the type of land they are interested in," he said. 

  

In addition to the recent lower income years, the agriculture industry in Iowa and Wisconsin is also dealing with the current effects of trade issues and weather.  

  

"If someone is thinking about selling their farmland or buying land as an investment, they for one need to know the local land market as each area is reacting somewhat differently which could influence price expectations. Buyers and sellers need to be knowledgeable in today's land market or they need to seek assistance" advised Kain. 

  

Iowa Land Values Graph | Wisconsin 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 

Location and quality are key drivers of land prices throughout the eastern Corn Belt and Delta, despite the overall slower land market.    

  

"Good quality farmland normally sells well as will recreation properties in the right locations. But lower quality farmland saw a decline this past year," said Roger Hayworth, area sales manager for Farmers National Company. "The overall agricultural real estate market has taken a sluggish turn when compared to a year ago. The uncertainty created by trade issues and projections of continuing lower farm incomes clouds the horizon for farmers and land buyers."    

  

Buying interest for land has remained adequate for the amount on the market for sale, but the buyer profile has changed somewhat.  

  

"The farmer buyer is being more cautious and more selective in the farms they will bid on. The 1031 exchange buyers have been active and continue to support current land prices. Investors are also active buyers depending on the type of land they are interested in and the desired returns," Hayworth said. 

  

Ag lenders are starting to report that some of their borrowers are experiencing financial stress from multiple years of low commodity prices and farm incomes. Working capital is declining with the tighter margins putting pressure on loan repayment capacity.  

  

"If someone is thinking about selling their farmland or buying land as an investment, they for one need to know the local land market as each area is reacting somewhat differently which could influence price expectations. Buyers and sellers need to be knowledgeable in today's land market or they need to seek assistance," advised 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  

Location and quality are key drivers of land prices throughout the Northern Plains despite the overall slower land market.    

 

"Good quality farmland normally sells well as will recreation properties in the right locations. But lower quality farmland saw a decline this past year," said Brian Mohr, area sales manager for Farmers National Company. "We are starting to see increasing signs of financial stress among farmers approaching some of what we saw in the 90s."  

 

The stress on farmers varies by area depending on crop yields the past several years. Working capital for most producers is declining with the tighter margins putting pressure on loan repayment capacity.  

 

Despite issues, land values have exhibited an underlying base of strength from several factors including historically low interest rates, low supply of land for sale and adequate buying capital. The other side of the land value equation is seeing increased uncertainties that could weigh down on the land market as time goes by.   

 

"If someone is thinking about selling their farmland or buying land as an investment, they for one need to know the local land market as each area is reacting somewhat differently, which could influence price expectations. Sellers also need to seek out someone who can provide the best means to market and sell the property," advised Mohr. 

 

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 values throughout the Southern Plains states are as varied as the terrain.  

  

"Farmers National Company has had above average sales activity in the region compared to last year," said Paul Schadegg, area sales manager for Farmers National Company. "High quality land has sold well whereas lower quality land saw a decline in demand and price. With the uncertainties in agriculture right now, people are reaching out for someone they can trust to sell their land or to help them buy a property. We are fielding an above average number of calls from investors wanting to buy land. Our agents are also getting calls from people who are thinking about selling in the coming months." 

  

East Texas is an important timber producing region and Farmers National Company is handling an increasing number of sales of timber land as well as buyers who want to invest in this long-term asset. Texas ranchland remains stable to stronger as the pool of buyers is large enough to absorb whatever might come up for sale. 

  

"If someone is thinking about selling their land or buying land as an investment, they for one need to know the local land market as each area is reacting somewhat differently which could influence price expectations. Buyers and sellers need to be knowledgeable in today's land market or they need to seek assistance," advised Schadegg. 

  

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 

Land values throughout Washington are as varied as the terrain.  

  

"Farmers National Company continues to have good sales activity in the region," said Flo Sayre, broker for Farmers National Company. "High quality land suited for the most valuable crops sells at a much higher price than dryland in the area. Land values have remained fairly flat for the past several years with marketing times extended for most ag properties. Many orchard properties are undergoing changes due to varietal replacement, labor shortages, low prices, and trade barriers. Rents on row crop farms are stable and dependent on water and crops grown." 

  

If someone is thinking about selling their farmland or buying land as an investment, they for one need to know the local land market as each area is different which could influence price expectations, she noted. 

  

"Buyers and sellers need to be knowledgeable in today's land market or they need to seek assistance," advised Sayre. 

  

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 

Land sales prices for winter and spring of 2019 across Georgia have mostly mirrored 2018. However, there have been a few sales with very strong prices, but those are few and very far between, reported Wayne Groover, real estate broker with Farmers National Company. Sales and availability of quality farmland remain limited. 

  

"Lower quality farmland and recreational land values are stable. There seems to be more than adequate market supply and only tracts with realistic pricing are selling. Timberland values are tracking timber prices, but seem to have stabilized," Groover said. 

  

Sales of transitional land (tracts that are in areas seeing heavy development pressure) seem to have cooled a bit as supply and demand have apparently come into balance. Prices are still good but seem to have peaked, Groover noted. 

  

"Georgia is a very diverse state and comments here relate primarily to rural to semi-rural areas. There is a tremendous inventory of land for sale in Georgia, the vast majority of it appears to be well overpriced. However, most sales seem to reflect values established over the last two to three years, i.e. values seem to have stabilized, for now at least," he said. 

  

Wayne Groover 

Real Estate Broker for Georgia and South Carolina 

(912) 489-8900 

WGroover@FarmersNational.com   

  

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