January 24, 2019
Auctions and price predictions mark the beginning of a new year in land sales.
Central N.D. land sells for $1,720 per acre
Approximately 240 acres in McIntosh County, N.D., sold for about $1,720 per acre in one of the first land auctions of 2019. The property was described in the sale bill as being “very good quality McIntosh County farmland available for the 2019 crop year with productive loam soils adjacent to a good gravel road.” The property had U.S Fish and Wildlife easements on it. — Auction managed and conducted by Farmers National Co. farmersnational.com.
Lake County, S.D., land brings $8,200 per acre
A half section of farmland in Lake County, S.D., sold in two 160-acre parcels for $8,200 and $6,700 per acre. The $8,200 per acre quarter had 141 acres of cropland and a soil rating of 81.9. The remaining acres consisted of an abandoned farmstead with a mobile home and some farm buildings. The trailer and farm buildings were in very poor condition, the sale bill said. The farmstead did have rural water and an electric hookup.
The quarter section of land that sold for $6,700 per acre had about 140 acres of cropland. The rest of the parcel consisted of two dugouts, waterways, low areas and roads. — Auction managed and conducted by Sutton Auctioneer and Land Broker, Flandreau and Sioux Falls, S.D. Phone: 605-336-6315. suttonauction.com.
Seller willing to lease back
Approximately 256 acres in Lincoln County, S.D., sold in two tracts in December for $8,300 and $7,450 per acre. Both parcels had a large amount of tile installed. The owner, an Iowa farmer, was willing to lease the land back, according to sale bill. — Auction managed and conducted by Westra Atkins Land & Auction, LLC, Beresford, S.D. Phone: 605-310-6941. westraatkins.com.
Hanson County, S.D., brings $5,000 per acre
Eighty acres in Hanson County, S.D. sold for $5,000 per acre at auction in January. All but about 3 acres was being farmed. The land had an overall soil rating of .723, which was well above the county average, according to the sale bill. — Auction managed and conducted by Sutton Auctioneer and Land Broker, Sioux Falls, S.D. Phone: 605-336-6315. suttonauction.com.
2019 land price predictions
The following are excerpts from 2019 land price predictions made by two auction companies:
• “Given the factors in place at this time, it seems like the land market in 2019 will react much like it has the last several years, but with an increased amount of caution on the part of buyers. [Since] a good farm only comes up for sale once every three or four generations in the right location for a farmer buyer, there will be interest to buy it, but with an ever-sharper eye to the financial factors surrounding the purchase. Investor buyers are being patient to make the best buys while avoiding any over bidding for a farm. Of course, outside influences can change any of these factors and these are areas that no one knows what could or will happen in 2019.” — Randy Dickhut, senior vice president, Real Estate Operations, Farmers National Company, Omaha, Neb.
• “If there are no major adverse economic influences, if crop production remains average to above average and if commodity prices don’t erode further and should strengthen, then we do not foresee any evidence on the horizon for drastic downturns or increases in land values. Hence, it is our opinion that going forward, we expect land values in 2019 to remain constant and pretty status quo.” — Val Sutton, Sutton Land and Auction Co., Flandreau and Sioux Falls, S.D.
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