Farm Progress

More land expected to come on the market this fall

More productive land will bring strong prices; bids for marginal-quality lands may disappoint sellers.

August 23, 2017

3 Min Read
STRONG PRICES: A combine and grain cart finish up wheat harvest on Missouri River bottomland south of Mandan, N.D. Strong prices are expected for good-quality land that comes on the market in the next several months. But bids for more marginal grounds may disappoint sellers.

“There is a tremendous amount of land coming on the market this fall, nearly double from a year ago,” reports Kevin Pifer, Pifer Auction and Realty, of Moorhead, Minn. He sells land throughout North Dakota, northern South Dakota and western Minnesota.

Pifer’s personal outlook for the land market: “The more productive land will bring strong prices, but the more marginal land will disappoint sellers.”

Here’s a look at recent auctions and sales:

$8,400/a buys Moody County, SD, land
A 120-acre farm in Moody County, S.D., sold at auction on July 11 for $8,400 per acre. About 111 acres was cropland. According to the sale bill, the land was well drained. Tile was installed in 2007 and 2012. — Auction managed and conducted by Farmers National Co. Website: farmersnational.com.

Southwest SD cropland sells for $750/a
Quality farmland in Bennett County, S.D., offered for sale for the first time since 1942, sold for $750 per acre in June in a private real estate sale. The property consists of 664 acres of cropland, 117 acres of miscellaneous waterways-hay ground and an 18-acre building site. It was located only 3 miles off a paved road. The land had great potential for hunting with pheasants, grouse and white-tailed deer, the sale bill said. The land was leased on a one-third-two-thirds share basis through February. Mineral rights went to the buyer. Improvements included a 36-by-30-foot steel Quonset, four 2,000-bushel steel grain bins, and wooden and steel storage buildings. — sold by Farmers National Co. Website: farmersnational.com.

Stump Lake, ND, farm sells for $800/a
Approximately 756 acres near Stump Lake in Nelson County, N.D., sold for about $800 per acre in a sealed bid auction in July. The property consists of farmland, hayland, pasture and a 2,000-square-foot home built in 1984. Approximately 364 of 756 acres had been in the Conservation Reserve Program. The contract paid $30.49 per acre. “The setting is noted for abundant wildlife, waterfowl and fisheries,” the sale bill said. — Auction managed and conducted by Farmers National Co., Rob Loe, agent; phone 701-979-3276. Website: farmersnational.com.

Valley pasture sells for $2,200/a
Approximately 354 acres in Richland County, N.D., near Leonard, N.D., sold for $2,200 per acre at an auction Aug. 1. The property consists of two parcels. One was 218 acres, with 36 acres of cropland and 175 acres of pasture. The second was 136 acres with 53 acres of cropland and 71 acres of pasture. The turnout for the auction was excellent, reflecting strong demand for pasture in Richland County, said Kevin Pifer, of Pifer’s Auction and Realty. — Auction managed and conducted by Pifer’s Auction and Realty, Moorhead, Minn. Phone: 877-700-4099. Website: pifers.com.

Valley cropland sells for $4,344/a
Approximately 140 acres of “very productive” cropland 5 miles southwest of Amenia, N.D., in Cass County sold for $4,344 in a private sale in July. The land consisted of mellow loam soils with productivity index of 77.3, according to the sale bill. It was enrolled in the Agriculture Risk Coverage-County program. — sold by Farmers National Co. Website: farmersnational.com.

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