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No slowdown on land prices yet

Land Values: Here is a look at recent land sales in eastern Nebraska, Kansas and South Dakota.

September 14, 2023

2 Min Read
Irrigation system in field
IRRIGATED LAND: It’s a seller’s market — whether it is crop ground or pasture — with fewer acres on the market than a year ago, according to BigIron Realty, based in Columbus, Neb. Curt Arens

by Ron Stock

Land is selling just as high as it was a few months ago. Lenders are saying that farmers are not using all of their lines of credit, so the interest rate is not affecting land prices negatively yet. The approximate time to sell a farm right now is about eight weeks.

Based in Columbus, Neb., BigIron, a licensed real estate broker in eight states, compiles the reports for this column. However, not all sales are handled by BigIron each month. For more information, call BigIron at 800-887-8625.

The following are several of the most recent sales in Nebraska, South Dakota and Kansas — this month all courtesy of BigIron Realty.


Seward County. A total of 123.3 acres sold for $1,824,840. This property consists of 110.48 irrigated acres, with the remainder being dryland corners. Included is a six-tower Zimmatic pivot, pivot panel box, electric motor and main electrical panel box. This land is nearly level, and most of this cropland has Class 1A1 soil.

Butler County. A total of 145.81 acres sold for $1,064,413. Located just east of Bellwood, Neb., on Highway 64, this property has an eight-tower T&L pivot, 50-hp electric motor with pump, irrigation pipe and one pipe trailer. The well was just sleeved, and the bowls were rebuilt last year. The electric motor was rebuilt three years ago, and the pivot is serviced annually. Access to the south side of the railroad tracks is through the neighbor’s property to the west.


Pratt County. A total of 156.42 acres sold for $328,482. These acres are enrolled in a Conservation Reserve Program contract that expires Sept. 30, 2026. It pays $47.22 per acre, or $7,386 per year. The 2023 payment is retained by the seller, who paid the 2023 property taxes. The buyer receives the 2024, 2025 and 2026 CRP payments. The buyer agreed to keep the CRP in compliance with USDA requirements through the contract expiration date. After CRP maturity, the land may be eligible for renewal into CRP, or it can be put back into crop production or grazed. This is excellent ground with deer and some of the best pheasant hunting in the area.

South Dakota

Tripp County. A total of 520 acres sold at online auction for $1,640,000 in two tracts. Tract 1 has 240 acres of tillable land (planted to corn), 25.57 acres of alfalfa, and the balance in grass, trees, cattle lots and homestead. Located on this tract are two wells, three pipeline tire tanks, two waterers and several hydrants, several outbuildings, and a 1,400-square-foot home. Tract 2 is 280 acres with 83.5 acres of tillable land (planted to corn), 76 acres of alfalfa and the balance in grass hay, pasture and trees. There is an undeveloped well with electric service on Tract 2. There are two pipeline tanks and an energy-free waterer fed from a well on Tract 1.

Stock is co-founder of BigIron Auctions and Realty with his brother, Mark.

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