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Serving: West

North Dakota Cropland Prices Jump 46%

$5,685 per acre tops the sale prices reported by farm managers and appraisers.

$5,685 per acre was the highest sale price for cropland land recorded in the North Dakota Chapter of the American Society of Farm Managers and Rural Appraisers' 2007 Land Value/Rental Rate Survey.

The land was located in Pembina County, N.D.

Other top prices (per acre) reported by the group were:
$4,350 -- Walsh County, N.D.
$4,200 -- Richland County, N.D.
$3,725 -- Cass County, N.D.
$3,700 -- Polk County, Minn.
$3,500 -- Traill, Grand Forks and Wilkin Counties, N.D.
$3,025 -- Otter Tail County, Minn.
$2,800 -- Clay County, Minn.
$2,350 -- Steele County, N.D.

The North Dakota state average price of cropland recorded in the survey increased 46% from 2006 to 2007.

In the Red River Valley, the average increase was 55%.

In central North Dakota, the average increase was 22%.

In western North Dakota, the average increase was 21%

The average minimum and maximum sale prices per acre by region recorded in the 2007 survey were:

North Dakota

Northeast North Dakota -- $500 and $1,448.
Southern Red River Valley -- $1,014 and $3,808.
Northern Red river Valley -- $450 and $4,512.

Minnesota

Northwest (including Red River Valley counties) -- $620 and $1,760.
Western (including southern Red River Valley counties) -- $1,232 and $2,532.

The report was compiled by Charles P. Peterson, a farm manager with Bank of the West, Fargo, N.D., and a director with ASFMRA's North Dakota chapter.

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