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Farm land sale prices climbing

VOSS, N.D. (AP)

North Dakota farm land is selling high.

A $4,350-an-acre sale price for 160 acres near Voss, in Walsh County, may be a record for North Dakota farm land that will stay in production.

Fargo auction company owner Kevin Pifer (PY'-fur) recently handled a Red River Valley sale of land for $2,500 an acre.

Pifer says good farm land in the state is selling for about 25 percent more this year than it did last year. And he says sales have been especially strong over the past 18 months.

North Dakota State University farm economist Andy Swanson says time will tell if the investments turn out to be good ones. He says there's an old saying that: "You can't pay too much for good land, and you can't pay too little for bad land."

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Resources

Buying and selling of agricultural land can be very complex.  To help you tackle the issues surrounding agricultural land transactions, Farms.com Real Estate has compiled a list of experts in the areas of agricultural economics and land values. 

University of Illinois

Department of Agricultural and Consumer Economics, Extension Specialist, Farm Management
Gary Schnitkey
schnitke@uiuc.edu

Department of Agricultural and Consumer Economics, Extension Specialist, Farm Management
Dale Lattz
d-lattz@uiuc.edu

Iowa State University

Michael Duffy
mduffy@iastate.edu
http://www.econ.iastate.edu/faculty/duffy/landnew.html

Kansas State University

Kevin Dhuyvetter
Professor and Extension Specialist, Farm Management
kcd@ksu.edu

Terry Kastens
Professor and Extension Specialist, Farm Management
tkastens@agecon.ksu.edu

Michigan State University

Stephen Harsh
Professor and Extension Specialist in Agricultural Economics
harsh@msu.edu

Eric Wittenberg
Outreach Specialist
wittenbe@msu.edu

University of Minnesota

Philip Raup
Professor Emeritus
praup@umn.edu

David Bau
Agricultural Business Management, Agricultural Business Management
bauxx003@umn.edu

 

 

 

 

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