Land Prices

Traditional Farmer · Mar 22, 2021

Land prices seem to be really moving up for building on.Piece of land next to my place only a little over 12 acres cut in half, owner put one of the 6 acre lots up for sale about a month ago for $370,000,I thought that'll never sell.Another neighbor told me he thought they had a contract on it for $360,000.

ASEguy · Mar 22, 2021

Wow. That's a lot for 6 acres. Where is this?

SVcummins · Mar 22, 2021

Somewhere near hell?

MoMike · Mar 22, 2021

Read on Agatalk, 339 acres near Kingman, IN auctioned for $15300 per acte + buyers premium. Base price $5186700.

Kansas4010 · Mar 22, 2021

Around here the BTO's buy up ground for any price just to keep others from having it.

atlarge54 · Mar 22, 2021

Please don't include location whatever you do. I hope none of the replies have location either, that will make this discussion far more valuable.

cjunrau · Mar 22, 2021

Southern Manitoba near winkler 1 acre lots selling for $75000 to $100000 a lot. To rich for my blood.

John T · Mar 22, 2021

Ive heard those stories before and thought NO WAY they will get that much BUT THEY DO !!!!! However each farm I bought brought a lot more when I sold it (sometimes divided in smaller parcels) even when neighbors said NO WAY he will get that..I never lost when I invested in real estate.

John T

Crazy Horse · Mar 22, 2021

SV, good one ........ you are probably right though but things could be worse. It could be next door to or even in heaven. Prices there are literally beyond belief in my opinion.

SVcummins · Mar 22, 2021

They are coming whether we like it or not

Traditional Farmer · Mar 22, 2021

Just about 100 miles South of downtown DC(LOL)

SHALER · Mar 22, 2021

Most feel we are entering an inflationary time/cycle, combined with low interest rates for now is what is driving this. Generally real assets like real estate, farmland, etc appreciate more during these times. As for farmland, corn/beans started an upward climb last August and everyone is trying to catch that wave. Also, I believe the new displaced work from home workforce will be putting new pressure on land for houses, acreages, etc in areas that formerly had little to no demand except from the blue collar worker working for peanuts at the local small business. In my neighborhood, a house with 10 acres just was listed on the market month ago for about 1.5X all the local yokels thought it should be priced at. It has NOT sold yet, but at least the family and the realtor think its pretty valuable. We'll see.

rossow (mn) · Mar 22, 2021

I've made the same plea for years. Weather stories, propane prices, gas/diesel prices, land prices, scrap-metal prices, property taxes, auction results, new invasive weeds -- the list goes on and on of topics that are interesting, but would be so much more useful if locations were given. Nobody is asking for a street address so they can break into a garage, but the frequent 'around here' location is just not very helpful in creating context for the topic.

NY 986 · Mar 22, 2021

When I hear prices like that I have to pinch myself to make sure I am not dreaming. I'd like to know where all the money is coming from. Even if most is financed it still has to be paid for. It sure is not the couple just starting out who are making 50-60,000 dollars per year. When there is a real correction in real estate prices there is going to be a lot of misery or a lot of anguish depending how the problem is solved. I see massive problems ahead when people with lots of money but very little discipline go on a spree. Works good for a while and all are happy but then some event happens then everybody's world gets turned upside down. This is more than just typical inflation/ appreciation but then I don't work for the government so what do I know.

Traditional Farmer · Mar 22, 2021

I'm South of DC a lot of gov't employees here active and retired so they don't have to worry about not getting a paycheck if the economy turns down but still you'd think there would be a limit.My cows and goats are eating some high priced grass(LOL)

SVcummins · Mar 22, 2021

DeltaSteve · Mar 22, 2021

Right now in our area,homes/acreages are often times selling within one or two hours of listing. Some are makeing offers of several thousands OVER asking price. Insane.

DaveBN · Mar 22, 2021

Those prices are crazy but I bet our grand parents thought that too.
Dave

Petnew56 · Mar 22, 2021

Here in SW Ontario (the far south of Canada) a 3 acre lot, with an unfinished new house, just sold for $900,000.00 Cdn. As you move east towards Toronto the prices jump up and homes in the Toronto, area with postage stamp sized lots, start at $1million

No idea how anyone can afford that when the average family income is said to be less than $75,000.00 a year

I bought my old farmhouse and 2 acres five years ago for around $170,000.00 and I am told it has more than doubled in value.

Since I came to Canada in 1982 I have seen living expenses / inflation vastly outstrip pay / salaries. Our standard of living has slowly slid downhill over the years despite moving up the corporate ladder before retiring.

Peter

Vito · Mar 22, 2021

The house I am working in on Marthas Vineyard was bought for 2 million. This is just the shell as the previous owner abandoned the project. Will cost another 2 million to complete. Hard to wrap your head around the money that is out there. Doesnt have any special amount of land with it.

Vito

4wdtom · Mar 22, 2021

When the supply (land) is limited and the demand (population) is increasing price will go up. If the population was decreasing price of land and housing would be going down.

DeltaSteve · Mar 22, 2021

A friend just returned from vacationing in southern Florida. A small 'apartment' in a highrise on the beach sells for one million.And they go up from there.

cdmn · Mar 22, 2021

The baby boomers are dying off quickly. Leaving paid-up homes and possibly vacation homes to the one or two kids. Helps a lot.

1206SWMO · Mar 22, 2021

In my area of Missouri property is selling quickly but the prices are still fairly reasonable....There are many nice homes in the $100,000-250,000 range....Good farm ground is $3,000 to $5,000 per acre...23 acres zoned commercial just outside my town of 10,000 is $240,000...34 acres beside I-49 is $$289,000.....A 64 acre ball park with 8 diamonds and a small motel beside I-49 is $1,450,000...I dont expect it to sell very fast.

showcrop · Mar 22, 2021

I called the former owner of one of my hayfields this AM. I need to find out if I will put fertilizer on it or not. Last fall he and his wife were relocating to the northern central part of the state, and they found themselves competing against buyers from Boston and NY city with cash in hand offering 20K over list price. They were able to bump their home with 25 acres where my field is up 20K and I had seen on facebook last fall that it had sold in one day for $405,000. It was purchased by a development company, but he thought that it had been bought by a local divorcee. He had been all about being a good steward of the land, and thought that she was going to live there. He looked up after we spoke and found out who he really sold it to so he feels like he was taken in the deal, and is really bummed out. She had told me that "the deal fell through" when she wasn't able to "site her new house on the lot properly"

bc · Mar 22, 2021

(quoted from post at 09:51:48 03/22/21) The house I am working in on Marthas Vineyard was bought for 2 million. This is just the shell as the previous owner abandoned the project. Will cost another 2 million to complete. Hard to wrap your head around the money that is out there. Doesnt have any special amount of land with it.

Vito

Wow. You are doing good Vito charging 2 mill for a remodel. Everyone needs a gig like that.

BillinCentralMO · Mar 22, 2021

Productive tillable farmland in Central Mo is running $6000 to $10000 an acre.

1206SWMO · Mar 22, 2021

You guys in central MO get more rain and have better soil..Here in SW MO the $3,000 ground grows 110-120 bu corn and 30 bu beans....The $5,000 ground grows 150-160 bu corn and 40-50 bu beans..

The best corn ever on my place was 198 bu per acre in 2014...The worst corn was 0 in 2011...The farm carries around a 135-140 bu average
The best beans ever on my place was 50 bu in 2019..The worst beans ever was 3 bu in 1980....The farm carries about a 35-36 bu average..
My farm is probably $3500-4000 per acre ground...

In 2020 the corn made 105 and the beans 27 bu per acre..We were very dry in June and July...Not that far away it was even drier and the corn only made 50 and the beans 10....

funky_g00 · Mar 22, 2021

Right now in Lincoln, NE there is 40 acres for sale at the price tag of $8 Million or 200,000/acre. It is farm ground that is quickly becoming the center of Lincoln.

730virgil · Mar 22, 2021

maybe some of you guys from central Illinois can weight on this this On RFD Illinois broadcasters were talking about land auction? 12000 to 15000 dollars an acre

bc · Mar 23, 2021

I don't know but following the markets there is a move to invest in real estate as inflation is going to go through the roof, stock market is bound to hit the tubes, and the bond market isn't making much of a return. All I know is that they are investing for the future of land prices cause we all know there isn't a big return on investment from raising crops.

Land Prices

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