Ag land market stable and slow

An ag land appraiser says the land market is stable and also extremely slow.

Jared Royer, who’s based in western Illinois with Compeer Financial, tells Brownfield…

“That November to February time frame, I just don’t have sales that have occurred that aren’t anywhere close to just arms length transactions, since that time.”  He says, “There’s a few private sales.  We’ve had a couple of auctions that, you know, you look at and say, ‘Man, that was cheap.’”

He says those looking to sell land should consider several factors.

“Make sure you have a good sales system in place.”  He says, ”We’re really seeing the differences in auctioneers. Marketing is becoming very important again. The number of bidders has gone down.”

Royer says increased interest rates and relatively lower commodity prices are contributing to the sluggish market.

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