As the end of the 2016 crop year approaches, farmers and farmland investors are still seeking to acquire land, showing up in strong numbers for Schrader Real Estate and Auction Co. land auctions last week in Indiana and Ohio.
The Nov. 1 auction of 755 acres in Ripley County, Ind., drew a packed house of approximately 175, including 78 registered bidders, resulting in a sale of the land for $4.585 million. The 16 tracts offered were spread among eight successful bidders.
The next day, the auction of 436 acres in Auglaize County, Ohio, attracted another capacity crowd, including 39 registered bidders, with the land selling for a total of $3.835 million.
“There’s still solid demand for farmland, and the bidding continues to be competitive, especially for the better quality land. Despite commodity prices, investors see the current market as an opportunity to acquire land that will provide them good long-term returns without the volatility of some alternative investments,” says R.D. Schrader, president of the auction company.
“It’s noteworthy that we had both farmers and investors actively bidding in both of these events, with investors buying much of the land. It’s important to remember that these prices remain high by historical standards, and I believe we will continue to see a favorable market for those who seek to sell land in the near future,” says Schrader, noting that the company also reached an agreement on the private treaty sale of more than 20,000 acres of mostly irrigated cropland in Nebraska.
Individuals seeking additional information may visit schraderauction.com or call 800-451-2709.
Schrader Real Estate and Auction Co., based in Columbia City, Ind., is a leading auctioneer of agricultural land throughout the United States and is a five-time USA Today/National Auctioneers Association Auction of the Year winner.
Source: Schrader Real Estate and Auction Co.