News

Land prices show modest growth in 2019

A 2019 U.S. land survey shows slight increases in the number of land sales and prices.

The Land Market Survey by REALTORS Land Institute reports more than a two percent increase in land dollar sales volume across all types of land. Irrigated ag land and ranchland increases are similar to the national average while non-irrigated was up a modest 1.5 percent.  Expectations are for rates to increase at nearly the same levels in 2020.

The median price for non-irrigated land increased to $5,500 per acre in the U.S., irrigated ag land neared $10,000 and ranchland totaled $4,500.

The Institute says the rate of growth for sales increases were slightly slower than in 2018 and attributes depressed commodity prices as one of the reasons. Property is also taking longer to sell.