Hot land market has more buyers than sellers
Andrea Johnson, Farm & Range Guide
via AgUpdate - Oct 11, 2021
WEST FARGO, N.D. – With high commodity prices and low interest rates, a seller’s market has developed for farmland, said Dale Weston, Farmers National Company agent, Fargo, N.D. Weston was one of three Farmers National Company agents to speak on a panel during Big Iron. The seminar was moderated by Red River Farm Network’s Don Wick.
“With the grain market is up, government ad hoc payments last year, and strong demand, we are looking for more land to sell,” Weston said. “We have more buyers than sellers. We’ve had a number of buyers call, and that’s great, but I need sellers.”
The northeast North Dakota/northwest Minnesota agents said they wouldn’t be surprised if prices for high quality land move to or above prices paid in 2011-13.
“When we were selling land (Tier 1) in 2012-13, in the Valley for $6,000-$7,000 per acre, it was mind blowing,” he said. “Now we expect to have at least that…where they are very competitive on potato ground, it could go higher.”
Prices vary for land with...