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Pivot-irrigated land is 5% to 10 % lower and dryland is down 10% to 15%, while pastureland is selling for the same price as a year ago.

July 15, 2016

2 Min Read

The land market has quieted down quite a bit, Stock Realty and Auction reports. The few farms that are for sale are selling if they are not overpriced — overpriced meaning priced at last year's prices.

There are still some $10,000 pivot-irrigated quarters selling in the best soils of the state. Generally, pivot-irrigated land is 5% to 10% lower and dryland is down 10% to 15% compared to a year ago, although pastureland is selling for the same price as a year ago. Marketing time to sell a farm has extended from 30 days to 100 days, with buyers fewer and farther between. The low supply of land for sale is probably what is keeping the market from dropping further.

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Stock Realty and Auction Co., St. Edward, a licensed real estate broker in eight states, compiles the reports for this column, but not all sales are handled by Stock Realty each month. Contact Stock Realty at 800-WE-SELL8 (937-3558). The following are several of the most recent sales:

North

Keya Paha County: 160 acres sold for $350,000. This tract is 5.5 miles from Springview, right off Highway 183. This is very productive property just a half-mile north of the highway. The property has very productive soils, shelterbelts, meadow, hill pasture and potential dry cropland. — Compliments of Farmers National Co.

Central

Custer County: 4,595.39 acres sold at auction for $3.8 million. This is excellent grassland and hay farm ground. It has nine wells, one being a submersible well in one of the casings; and 5 pastures. There are 500 acres in hay ground. — Compliments of Farmers National Co.

Valley County: 160 acres sold at auction for $360,000. This is a nice combination farm with 35 certified gravity-irrigated acres, 18 acres in alfalfa planted two years ago, 10 acres of dryland and 90 acres in pasture. This farm has a 1.5-story home with three bedrooms and one bath. The property has an excellent shelterbelt for calving. Improvements include a calving shed, garage, two grain bins, and several other buildings. — Compliments of Farmers National Co.

South

Kearney County: 80.06 acres sold for $530,000. This is a highly productive, well-maintained, gravity-irrigated farm. Soils consist of primarily Class I, II and III Detroit, Holdrege and Butler silt loams, with a minor amount of Class IV Scott silt loam. — Compliments of Agri Affiliates Inc.

Harlan County: 154 acres sold for $624,000. This is pivot-irrigated cropland, along with dry cropland and pasture that has good fencing and livestock water availability. — Compliments of Agri Affiliates Inc.

Source: Stock Realty and Auction Co.

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