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Land prices remain strong

With low interest rates and scarcity in land for sale, it's a good time to sell before winter, BigIron Realty reports.

July 9, 2020

2 Min Read
Corn field
LAND SCARCITY: With less land for sale, prices are strong. But that may be changing, BigIron Realty reports. Tyler Harris

As summer fires up, so are inquiries from farmers thinking of selling that lone 80 acres or quarter that is out of their way. Land prices are surprisingly strong, probably due to scarcity, but that may be changing. BigIron Realty reports increased inquiries from banks and creditors and farmer sellers themselves. Low interest rates and scarcity make it a good time to sell before wintertime.

BigIron Realty of Columbus, Neb., a licensed real estate broker in eight states, compiles the reports for this column, but not all sales are handled by BigIron each month. Contact BigIron at 800-887-8625. The following are several of the most recent sales.

Northeast Nebraska

Pierce County. At an online auction, 120 acres sold for $444,000. This pivot-irrigated farm has a seven-tower T-L pivot, John Deere power unit; 1,000-gallon fuel barrel; and an 80-horsepower Randolph gearhead. There is good access on the west side of the property. — Compliments of BigIron Realty

Southeast Nebraska

Lancaster County. At an online auction, 77.06 acres sold for $507,206. This property is mostly dryland cropland with a few acres in grassland. It is bordered by good gravel roads. The north half is nearly level, and the south half is gently rolling with farmable terraces in place. — Compliments of BigIron Realty

South Dakota

Lake County. A total of 174 acres sold for $2.5 million. This farm has a history of strong yields and comes complete with an updated 3,400-square-foot house with attached two-car garage. Grain storage consists of multiple smaller bins and two large grain bins attached to a grain drying unit. Included in the property is a popcorn processing plant and complete ear corn business with specialized buildings, which can be converted to storage; a warehouse with two semi-docks; and processing equipment and harvesting equipment. — Compliments of BigIron Realty

Kansas

Barton County. A total of 156.3 acres sold at online auction for $281,340. USDA's Farm Service Agency carries the 156.3 acres of cropland as 152.34 acres cultivated, and 3.96 acres in waterways and other uses. The north half of the quarter is terraced. It's selling unreserved “as is.” It’s considered prime farmland at the intersection of Barton, Ellsworth and Rice counties, within 6 miles of the geographic center of Kansas. It has access to grain delivery points in Claflin and Bushton. It's bordered by Highway 156 at its northwest corner. — Compliments of BigIron Realty

 

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