Buck Hollow Sporting Goods - click or touch to visit their website Midwest Habitat Company

Wow Just Wow....... Land Prices

All tillable tracts here have come down some. Last land sale in the area 147 acres brought 9600/acre. 74 CSR2 BUT it had 43 acres of BLOW sand not so good of ground. If ya broke the 2 short 80s apart. The Poor 80 being valued at 5k, and valuing the other 80 probably worth 13ish.

A very good 100 acres just south about 15 miles brought 17,700/acre on a private auction. Would have brought 20k, if sold 1-1.5 years sooner.

Haven't really heard of any Rec land selling, so not sure on that market. I know to the east a county or 2, their still asking a lot for Rec land and it seems to be moving, but at a slower pace.
 
I found a website the other day when I googled "acreages for sale in western Colorado". The site had all states listed, just pan around and click on the listing. From what I saw, the website looked to be dedicated for high end listings, most starting at a $1,000,000. Only one listing caught my eye. Even South Dakota was $$$. Guess a guy needs to contact local smaller realtors when shopping out of state.
 
The reports I have been told from the land listing agents is that the rec land market is ticking upwards as of recent and they anticipate 2025 being a stronger market for sellers than 2024. Clearly the price gap between farmland and rec land is shrinking.
 
CottonwoodCanyon said:
That's what I've been seeing too. I haven't seen many "deals" on rec or combo farms and I highly doubt there will be. The demand hasn't decreased at all and, if anything, has increased since the election.
Click to expand...
That's interesting. I don't watch Iowa land sales/asking prices that much, much more tuned in to NW Mo ground and I think all land in NW Mo has softened, rec ground, combo, bottom ground alike. I assumed (I know - there I go again assuming), that most land in the midwest states followed the same trend. Much of the disparity could be localized too as I've seen articles saying Iowa land decreased 3% last year. Those decreases had to happen somewhere maybe just not where you, like me, follow?
 
deerdown said:
Those decreases had to happen somewhere maybe just not where you, like me, follow?
Click to expand...
I dont think looking at the overall increase or decrease in pricing does much good. Tillable and rec markets are so different. Different factors drive them and they arn't that related. So if overall market dropped 3%, but tillable dropped 6-7% we can decipher the rest of the market didn't change much.
 
deerdown said:
That's interesting. I don't watch Iowa land sales/asking prices that much, much more tuned in to NW Mo ground and I think all land in NW Mo has softened, rec ground, combo, bottom ground alike. I assumed (I know - there I go again assuming), that most land in the midwest states followed the same trend. Much of the disparity could be localized too as I've seen articles saying Iowa land decreased 3% last year. Those decreases had to happen somewhere maybe just not where you, like me, follow?
Click to expand...
I know of a couple farms in Mercer and one in Worth that sold in the last couple months that all went between $5700-6200/acre. These were good combo hunting type farms. That to me isn't softening.
I have also seen some sell for lower prices but were less desirable type farms IMO
 
JBAGS said:
I know of a couple farms in Mercer and one in Worth that sold in the last couple months that all went between $5700-6200/acre. These were good combo hunting type farms. That to me isn't softening.
I have also seen some sell for lower prices but were less desirable type farms IMO
Click to expand...
Not here to argue. People have different perspectives on what prices are doing, I gave you mine. I can give you example where some bottom ground in Worth county didn't bring $6k at an auction recently, so .....

I'm curious which one in Worth you're referring to. I follow that area pretty close.

I have a nice combo farm in Harrison county, Mo I'd sell for $5400/a. A year or more ago I think it'd be closer to $5900... just using it as an example of my perspective on it.
 
deerdown said:
Not here to argue. People have different perspectives on what prices are doing, I gave you mine. I can give you example where some bottom ground in Worth county didn't bring $6k at an auction recently, so .....

I'm curious which one in Worth you're referring to. I follow that area pretty close.

I have a nice combo farm in Harrison county, Mo I'd sell for $5400/a. A year or more ago I think it'd be closer to $5900... just using it as an example of my perspective on it.
Click to expand...
Not arguing. My perspective is around $6K acre for rec ground in N Missouri isn't a softening.
There are always exceptions out there where stuff doesn't bring what you think it would others bring way more than you think. Maybe your farm in Harrison would bring $5900, never know. Shop it around and see.

Worth one was within 3 miles of the IA border and was an off market deal.
 
This isn’t really related to land prices but how do you guys navigate sales where one chunk is broken into individual tracts that have no obvious fence or boundary between them? I’ve seen multiple times where an agent will just draw lines on a plat through open fields and call that the new dividing line between one tract and another. Most if not all are surveyed prior to sale but this still seems like a potential problem.

I looked at a farm once and was following the gps on my phone with the auction picture alongside. Got to where the line was between 2 and I was in the middle of a weed field. Called the agent and he said…”it’s there somewhere.” I was like…what is? The post from the survey? I didn’t see anything. I see auctions and sales like this a lot so it obviously works for some people. I don’t know how comfortable I am with it.
 
sundog78 said:
This isn’t really related to land prices but how do you guys navigate sales where one chunk is broken into individual tracts that have no obvious fence or boundary between them? I’ve seen multiple times where an agent will just draw lines on a plat through open fields and call that the new dividing line between one tract and another. Most if not all are surveyed prior to sale but this still seems like a potential problem.

I looked at a farm once and was following the gps on my phone with the auction picture alongside. Got to where the line was between 2 and I was in the middle of a weed field. Called the agent and he said…”it’s there somewhere.” I was like…what is? The post from the survey? I didn’t see anything. I see auctions and sales like this a lot so it obviously works for some people. I don’t know how comfortable I am with it.
Click to expand...
I had my neighbor walk along and just put posts wherever he thought the line was- it’s not accurate but I’m not having a full survey done until I get the neighbors piece bought (we’ve been working on a 2 1/2 acre piece for like a year now)…. Once I get that finalized I’m going to have to do a survey. I’m sure the neighbor is going to get hot when he loses 60 yards to where the actual property line is. It’s for sure a problem and needs to be surveyed (my piece currently is- but only the corners- not the whole line and no visual)
 
Met with a realtor yesterday about a farm I'm thinking of selling in NW MO. The Comps are even worse than I expected. It's a rec farm.
Meeting with another Realtor today but I don't expect any different news, they can all pull the same Comps. Might end up holding onto the farm at these prices.
 
deerdown said:
Met with a realtor yesterday about a farm I'm thinking of selling in NW MO. The Comps are even worse than I expected. It's a rec farm.
Meeting with another Realtor today but I don't expect any different news, they can all pull the same Comps. Might end up holding onto the farm at these prices.
Click to expand...
What did you hear? What's the statistics on your farm?
 
Comps get tough on rec ground in many scenarios. Unfortunately all this means for many buyers is a big down payment is necessary. Too many possible side deals worked out with previous owners and too hard to get an apples to apples comparison especially when talking about hunting quality. Never is easy
 
JBAGS said:
What did you hear? What's the statistics on your farm?
Click to expand...
His comps went back 2 years. All under $5k/a except 1 that had a nice 60x104 building with built out living quarters in 2400sf of it and it only went for $5357/a.
All Harrison County Mo Comps.
There's current listings in Harrison County for >$5k/a but they aren't sold. Recent auction on Rec tracts nearby were mid to low $4's. Not saying an auction is a good way to sell a Rec farm at market price, but these others were sales from listings, not auction.

Even less $$$ than I previously thought.
 
I don’t live in an area where rec ground moves as often as other parts of the state but have seen comps of 50/50 timber/pasture and ag go from 5-6 on the low end to 8-9 on the other. All the same csr/ quality of timber etc but limited market in the area and a few months difference at assessment. Basically same exact ground assessed at double the price only a few miles down the road. One guy got a good rate/ terms the next guy had it rough closing a deal. Way easier for some in areas with lots of comps
 
deerdown said:
His comps went back 2 years. All under $5k/a except 1 that had a nice 60x104 building with built out living quarters in 2400sf of it and it only went for $5357/a.
All Harrison County Mo Comps.
There's current listings in Harrison County for >$5k/a but they aren't sold. Recent auction on Rec tracts nearby were mid to low $4's. Not saying an auction is a good way to sell a Rec farm at market price, but these others were sales from listings, not auction.

Even less $$$ than I previously thought.
Click to expand...

Had a realtor get me a # for my place in Mercer, MO....$4800 per acre.
 
You must log in or register to reply here.
Top Bottom