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Farmland market shifts toward more disciplined buying

An ag real estate specialist describes the farmland market as durable.

But Brent Wiest with Compeer Financial says it’s not uniform across the company’s three-state footprint.

“We have not seen a broad correction in land values across Illinois, Minnesota and Wisconsin. In many areas, values have held firm. Some areas, particularly where supply is limited or local demand is strong, values have continued to move higher.”

He tells Brownfield buyers are becoming more selective.

“They are looking harder at productivity, location, and whether or not a farm fits their operation. So it’s not that the market is weak, it’s that the market is more disciplined.”

He says while there’s still support for good land and strong location, properties with limitations may face more price resistance.

Wiest made these comments during an upcoming Compeer Financial appraisal podcast, a content partnership with Brownfield.