Land is selling for higher prices than one year ago, according to BigIron Realty. In fact, BigIron estimates land prices are up by about 30%.
Low interest rates and concern that they may be rising has buyers locking in their interest rates. Higher fertilizer costs going into 2022 are overshadowing higher commodity prices, but it is still a seller’s market, BigIron says, with more buyers than sellers.
BigIron Realty of Columbus, Neb., 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, contact BigIron at 800-887-8625.
The following are several of the most recent sales in Nebraska, this month all compliments of BigIron Realty.
Merrick County. A total of 323.83 acres sold at online auction in two tracts for $1,259,843. Tract 1 is 160.81 acres of pivot-irrigated cropland. Tract 2 is 163.02 acres of a combination of pasture and dryland crop ground.
Colfax County. A total of 80 acres sold at online auction for $860,000. This dryland farm has 67.17 acres of cropland and 11.57 acres of grass, with good gravel road access.
Nance County. A total of 83.8 acres sold at online auction for $536,320. This property has all kinds of possibilities and is only a couple of minutes from Genoa, Neb. There are 47.9 acres of cropland, with the balance being grass, a creek line — which has plenty of hunting potential — and a homesite. According to the Nebraska Department of Natural Resources, there is a permit to irrigate from Beaver Creek on 35.2 acres.
Butler County. A total of 160.96 acres sold at online auction for $1,593,504. The dryland property is nearly all flat and has great gravel road access on the west and east sides. It is also close to markets, with Dwight, Neb., a mile away.
Hall County. A total of 156.73 acres sold at online auction for $1,222,494. This farm is located in a highly developed and productive area for farming. It has excellent access from a good blacktop road to the north and a well-maintained gravel road to the west. There are 134.47 acres certified irrigated acres, according to the Central Platte Natural Resources District, serviced by three wells.
The northwest portion of the farm has a Valley corner center-pivot system, and the balance is gravity irrigated. The west two wells are electric. The northwest services the Valley system, and the southwest services the gravity irrigation. The east well uses a four-cylinder propane power unit for gravity irrigation.
The farm was in corn and soybeans this past season. It is close to local markets and an ethanol plant. There is income potential with hunting opportunities from the timber that runs through the farm. The tenant owns the Valley system, the panel, gravity pipe and the four-cylinder power unit, which are not included in the sale. Aurora Co-op owns the propane tank.
Greeley County. A total of 626.18 acres sold at online auction for $4,983,572. Tract 1 is 318.3 acres and consists of two pivot-irrigated quarters with a Reinke eight-tower center pivot with a 60-hp electric motor, a Lockwood eight-tower pivot with a 60-hp electric motor and two wells.
Tract 2 is 318.3 acres and consists of irrigated farm ground, pasture and a building site with a home and two Reinke seven-tower pivots with 60-hp electric motors and one well. The house is 1,800 square feet with five bedrooms and two bathrooms. It is a stucco home with metal shingles and newer windows.