June 7, 2023
Kansas land values continue to rise across all sectors, according to the USDA National Agricultural Statistics Service. Since 2020, irrigated land values have risen 11% per year, dryland values rose 22% per year, and pasture has risen 18% per year. Kansas cropland is still some of the most affordable in the United States, though, at an average of $2,950 per acre in 2022, according to USDA NASS. That’s still a 24.5% rise since 2022, however.
Robin Reid, Kansas State University Extension farm economist, spoke about this in a webinar in April. She explained that farm income remains strong, even with ongoing drought concerns and high input costs. Farmers are contending with increasing interest rates, higher inflation and competition from nonagricultural investment. Overall, she concluded that values are expected to continue to rise, but not as sharply, with projected smaller farm profit margins.
Edwards County. About 160 acres of Edwards County land was sold at auction April 24. The single tract of dryland sold for $1,400 per acre. The seller was the Urban family. Carr Auction & Real Estate Inc., Larned, Kan., handled the sale.
Decatur County. About 480 acres of Decatur County cropland and grass was sold in three tracts at auction May 9. All three tracts were southeast of Cedar Bluffs. Tract 1 was 160 acres of wheat stubble, cornstalks and grass, which sold for $2,700 per acre. Tract 2 was 160 acres of mostly cornstalks, which sold for $2,900. Tract 3 was 160 acres of wheat stubble and cornstalks and sold for $1,700 per acre. The seller was DeMay Enterprises. Farm & Ranch Realty Inc., Colby, Kan., handled the sale.
Russell County. About 1,200 acres of Russell County land was sold at auction May 2. The land was extremely popular hunting land, with productive cropland and pasture as well. There was an easement to the Grain Belt Express utility crossing the corner of Tract 2. The land was divided into five tracts, with a sixth tract selling the undivided one-third interest in the mineral rights and production owned by the seller under tracts 3 and 4. Tract 1 was 320 acres of crop and grassland, and it sold for $1,700 per acre. Tract 2 was 240 acres of cropland and sold for $2,100 per acre. Tract 3 was 550 acres of crop and grassland and sold for $1,900 per acre. Tract 4 was 80 acres of mostly grassland with some cropland and sold for $1,700 per acre. Tract 5 was less than an acre of land with a 48-by-75-foot shop on it, and it sold for $72,000. Tract 6, which was the mineral rights interest, sold for $56,000. The seller was Ehrlich Farms. Farm & Ranch Realty Inc. handled the sale.
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