We are overdue to give you a market update on land sales in the Southern Red River Valley, so here goes!
- Value wise, we are seeing an increase in farm land values in 2019 compared to 2018, specifically on the ND side in Cass and Richland counties. Cass County especially has had a strong year in terms of price/acre results!
- Volume of land sold so far is lower than in 2018, however there will be more land sales in Q4 of 2019 that may end up pushing us above the 2018 volume.
- Overall we are seeing some better land being sold in 2019 compared to 2018. This is one reason we are seeing higher values overall, but demand in general has been strong as well.
- There are more buyers than sellers in the farm land market right now, and we expect that trend to continue for awhile.
We’ll share some specific stats in early 2020 once all the 2019 sales have been recorded. Until then, if you want specifics or are curious about land values in your immediate area, please contact us any time and we would be happy to share.
Until next time!
Andy Westby