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Farmland values settling into a stable range between $8k and $11k

An ag real estate official points to a stable and possibly improving range of farmland values between $8 and $11 thousand dollars per acre.

Randy Dickhut with Farmers National Company says there’s not much quality ground available right now.

“Probably an average for that good quality land is in that $10,500 range or so.  And that’s staying steady to actually increased a little bit by the statistics from several places.”

For the time being, he tells Brownfield the supply and demand situation favors farmland values.

“There’s some recent statistics coming out of Iowa that (show) less than 1 percent of the land traded hands, and only part of that was in the open market in 2017.  And that’s what we’ve seen everywhere.”

Beyond availability, Dickhut says commodity prices and interest rates will have the most near-term impact on farmland values.