Current State of the Land Market

[Trapshooter1]

This spring my Dad got an opportunity to buy some land that borders the century farm. You only get 1 chance at that so ya gotta try to get that done. He did and Im happy for him.

What have you guys been seeing? High, Low?Id say here in the land of NE Iowa the All tillable tracts have come off the highs. Still bring good money but not like it once was, (which was insane in my opinion) Id say Im seeing stuff in the 145-170 per CSR2 point range seems to be catching it. Not the 200+ per point we seen at one time.

Have not had much recreational land sell around here, Had 1 family try to sell a big piece thats a mix of Tillable and Timber. (A pretty nice place to live if your a deer, but they no saled it at 6,000/acre on a live sale) and they think its worth 9,000/acre, for Sand and Trees and a pond.
(The farm they no saled has tremendous potential and is in a big buck neighborhood) But it needs someone who knows what their doing as far as whitetail deer, and the family has to come back to reality on their asking price. Honestly 6,000 for what it is was a pretty good price.

 

[Daver]

Some properties are selling, still at what I consider high prices. But some properties are sitting for sale for a while. I'd still call it a seller's market, but not as hot as it was.

Today's buyers are generally pretty knowledgeable about what to look for AND what to avoid. If the layout is marginal...or worse...that property will sit. Neighbors, terrain, etc. are key and lots of guys are wise to that nowadays.

 

[Hardwood11]

It’s solid here in Minnesota. I can’t find properties to sell . If it’s nice it sells fast . Farm land is above average, but it depends on quality ! Marginal farms have leveled off.

Small 5-20 acre parcels that are buildable … hot market ! Lakeshore is strong !

 

[Muskrat24]

The deals I’ve worked on are still high. Records being set maybe not as often but still strong. Rougher tracts that are pasture are high as ever with the strong cattle market. Marginal tracts with poor soils, no fence and dont lay out great to farm are softer.

 

[IowaBowHunter1983]

Good/great rec farms are still as high as they ever been. Pasture as high as its ever been. Average/Marginal tillable down for sure.

 

[Sligh1]

Great stuff. Region or county seems to change things. What I’m seeing is this: “top notch” anything - hunting or tillable…. Very little for sale & sells fast & high. As u go down in quality …. How fast it sells and price goes with it. To the other end: low quality, needs lot of work, etc- not selling fast or bringing the big bucks.
Stuff I’d buy personally right now if it were only about $, investment or getting good buys: 1) tillable in regions that are not as sought after or have generations of paid off top tier dirt. Like southern part of state, 50-60 csr type stuff. 2) hunting or mixed land that needs a lot of work. Say 2-3 years to dial it in and some projects to enhance greatly - whatever they might be. 3) anything random like farms that sat on market for a while & they “need to sell” so get cheaper, random auctions that go lower & in areas of the state that just don’t have the competition. Obviously avoid the opposite of it. But…. It’s not only about $ for a lot of folks…. If u have $ & able to buy a farm you want…. Go for it!