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Farmland values surprisingly stable in 2017
An official with Farmers National Company surprised by stable farmland values in 2017 wonders if that stability can continue.
Randy Dickhut says the land market has been interesting given the multi-year drop in farm and ranch incomes.
“Decent to good quality land, (prices) are definitely steady and holding their value.”
He says a low supply of land for sale and an adequate demand for good properties has held values better than underlying economics would indicate.
“In the land market, there’s only about 1 percent of the land that openly trades hands in any given year. So it’s very important to know the land market (and) know who the buyers and sellers are. And I think that’s what is happening.”
Looking ahead to 2018, Dickhut says land values will be weighed on a number of issues.
He points to the possibility of financially driven ag land sales making more acres available, and how policy and regulatory changes might impact the land market.
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