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While some softening has occurred, overall land values have not plummeted.

P.J. Griekspoor, Editor

December 13, 2019

5 Min Read
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VALUE HOLDS: In spite of the ongoing downturn in commodity prices, good cropland is still holding a reasonable value. A number of recent auctions have seen dryland cropland going for between $1,000 and $2,000 per acre.

While Kansas land values have softened somewhat in the ongoing economic downturn, most values are holding fairly steady for good-quality land.

In one example, about 480 acres of cropland including a farmstead was sold in a public auction Nov. 12 in Thomas County. The land was sold in four tracts — three tracts of dryland cropland and one tract of about 8.5 acres. The farmstead included a house and outbuildings.

Tract 1, about 157 acres of cropland, brought $1,550 per acre, while tract 2, about 151 acres of cropland, was bid in at $1,560 per acre. Tract 3, the homestead with a 2-bedroom, 1-bath house, detached garage, 40 by 40 foot Quonset, 30 by 49 foot machinery shed, grain bins and other buildings, brought $30,000. The final tract, about 155 acres of farmland, brought $1,600 per acre.

The sellers were the John Shea Trust, Bonnie Siruta and Jim Erwin. Farm and Ranch Realty of Colby handled the sale.

In another Thomas County auction that closed Oct. 2, about 640 acres of land was sold as a single tract. It brought $1,450 per acre. The seller was the Diane D. Graham 2003 Trust. Farmers National Co. handled the sale.

Sheridan County

About 240 acres of cropland in Sheridan County was sold at auction on Nov. 19. The land was sold in three tracts. Tract 1, about 80 acres with 77 acres in crops and the balance in grass and roads, brought $1,400 per acre. Tract 2, also 80 acres with 75 acres in crops and the balance in grass and road acres. That tract brought $1,400 per acre. The final tract, 80 acres of cropland, was bid in at $1,450.

The sellers of that property were Fred and Bev Teel. Farm and Ranch Realty handled the sale.

Butler County

About 163 acres of Butler County land was sold by private treaty in a deal that closed Oct. 10. The property brought $2,806.75 per acre. The seller was not identified. Farmers National Co. handled the sale.

Labette County

Four tracts of Labette County land totaling 528 acres were sold by private treaty in a sale that closed Oct. 4.

Tract 1, about 109 acres of good upland cropland and 30 acres of pasture with good five-wire fence and a pond, brought $1,680.22 per acre. Tract 1, about 110 acres of cropland and 39 acres of wooded hunting land with about a quarter-mile along Labette Creek, brought $2,022.82 per acre.

Tracts 3 and 4, a combined 217.5 acres of good open cropland, brought the top price of the sale at $3,201.48 per acre. The seller was not disclosed. Farmers National Co. handled the sale.

Russell County

About 157 acres of Russell County land was sold by private treaty in a deal that closed in October. The land included 135 acres enrolled in the Conservation Reserve Program. One contract, 138 acres, expires in 2021, while another contract for 7 acres expired this year. The remaining 8 acres are not cropland. The seller reserved all owned mineral interests. That land brought $1,102 per acre.

Kearny County

There were two sales of land in Kearny County that were sold by private auction and closed recently. One sale, about 320 acres of farmland currently enrolled in CRP, brought $850 an acre. The seller was SMG Farms.

In another sale, about 80 acres of dryland and minerals sold for $1,000 per acre. The seller was Newcomer. Both sales were handled by Faulkner Real Estate of Ulysses.

Morton County

Two separate private auction sales of farmland closed in Morton County recently.

One sale, about 406 acres of dryland farmland, saw the land go for $840 per acre. The seller was Boaldin. Faulkner Auction and Real Estate handled the sale.

In the second sale, about 160 acres enrolled in CRP brought $700 per acre. The seller on that property was O’Bryan. Faulkner Real Estate handled the private auction.

Stanton County

Private auction sales of land for four separate sellers closed recently in Stanton County.

In one sale, six quarters of irrigated cropland were sold for Circle 8 Land Inc. The first five tracts brought $525 acres each, while the sixth was bid in at $1,000 per acre.

Another private auction for Winger Trust saw 160 acres of dryland cropland bid in at $650 per acre.

The third sale, for Meadowland, was 160 acres of dryland that brought $600 per acre.

In the final sale for Premiere Farms, two 160-acre tracts of dryland cropland were bid in at $650 acres each. Faulkner Real Estate handled all four sales.

Stevens County

There were two sales of Stevens County cropland at private auction.

In one sale, about 480 acres of dryland cropland were sold for $550 per acre. The seller was Haymaker.

In the second sale, about 160 acres of land enrolled in CRP sold for $800 per acre. Kitch was the seller. Faulkner Real Estate handled both sales.

Seward County

When high-quality, irrigated farmland comes on the market, it still commands a strong price. An example is the sale of 160 acres of irrigated land in Seward County by private auction. The quarter brought $3,930 per acre. The seller was Shepherd.

In another sale, a quarter-section of farmland enrolled in CRP brought a fraction of that price at $650 per acre. The seller in that private auction was Slemp. Faulkner Real Estate handled both sales.

Hamilton County

Seven quarters of Hamilton County farmland were sold at private auction last fall. Tract 1, a full 160 acres of farmland, brought $675 per acre. Tract 2, about 153 acres in farmland and the balance in grass and woods, brought $800 per acre. Tract 3, a full quarter of cropland, brought $850 per acre, while tract 4 brought $800 per acre.

Tract 5, about 160 acres of farmland, brought $725 per acre, while the final two tracts of 160 acres each brought $625 per acre. The seller was LLS Etal. Faulkner Real Estate handled the sale.

Grant County

About 640 acres of dryland cropland was sold at private auction in Grant County recently. The land sold in three tracts. Tract 1, about 155 acres of cropland, brought $995 per acre. Tract 2, about 161 acres, brought $830 per acre, while the final tract, 320 acres of dryland, brought $925 per acre. The seller was Long. Faulkner Real Estate handled the sale.

Texas County, Okla.

About 160 acres of farmland in Texas County, Okla., were sold at private auction for $550 per acre. The seller was Boaldin. Faulkner Real Estate handled the sale.

Cimarron County, Okla.

About 240 acres of farmland in Cimarron County, Okla. was sold at private auction for $1,300 per acre. The seller was Goldsberry. Faulkner Real Estate handled the sale.

Read more about:

Land Sales

About the Author(s)

P.J. Griekspoor

Editor, Kansas Farmer

Phyllis Jacobs "P.J." Griekspoor, editor of Kansas Farmer, joined Farm Progress in 2008 after 18 years with the Wichita Eagle as a metro editor, page designer, copy desk chief and reporter, covering agriculture and agribusiness, oil and gas, biofuels and the bioeconomy, transportation, small business, military affairs, weather, and general aviation.

She came to Wichita in 1990 from Fayetteville, N.C., where she was copy desk chief of the Fayetteville Observer for three years. She also worked at the Pioneer Press in St. Paul, Minn. (1980-87), the Mankato Free Press in Mankato, Minn. (1972-80) and the Kirksville Daily Express in Kirksville, Mo. (1966-70).

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