Just a quick update on some of the recent activity here on the North Dakota side of the southern Red River Valley! January and February had quite a bit more sales volume in Cass County this year compared to last. By our count, almost 2000 acres have already traded hands in “arms-length” deals so far in Cass. I’m not sure this pace of volume will continue, but it certainly bodes well for hungry land buyers that more land seems to be moving compared to last year.
In Cass County, just over a dozen sales (some with the same sellers doing multiple deals) have been recorded with an average price per acre of around $4,200/acre. That’s lower than the average we saw county-wide in 2017, but the quality of the land that sold in January and February was also a bit lower than average (more Drift Prairie dirt on the western edge). There have still been some strong sales in the bunch for the Red River Valley soils though, so it seems the market is still pretty strong.
Richland County on the other hand has been pretty slow overall to start the year compared to Cass, but that isn’t abnormal for Richland where the volume of sales generally isn’t as high. Just 2 arms-length deals by our count, with prices right above their recent average in terms of $/acre.
If you want more details or to talk about buying or selling farm land in our area, feel free to contact us anytime! Until next time,
Andy