Farmland Barometer Home » Farmland Barometer April 2011 » Farmland Value Drivers
As a benchmark - - I'll use prime farmland as an example - - and you can correlate the trend to the type of farmland you own. Here is what has happened in the past nine months across Illinois:
| Time Frame | Price Range |
|---|---|
| 4th of July 2010 | $7,000 per acre |
| Thanksgiving 2010 | $7,500 per acre |
| Christmas 2010 | $8,500 per acre |
| March 2011 | $9-10,000 per acre |
(Note: Yes - - a tremendous price surge is underway. There are no signs of this movement letting up. The driving factors are in place.)
Recent Sales - There is nothing like live ammunition - - and we monitor every land sale transaction in several counties around Central Illinois. (Illinois is a full disclosure state so all the data is available.) Take a look at these general prime farmland values:
| Sale Date | County | Town | Acres | Price |
|---|---|---|---|---|
| 2/25/2011 | Moultrie | Bethany | 60.00 | $9,000 |
| 2/15/2011 | McLean | Hudson | 134.00 | $10,150 |
| 4/1/2011 | Macoupin | Carlinville | 78.00 | $10,075 |
| 2/3/2011 | Christian | Mt. Auburn | 79.20 | $9,100 |
| 3/2011 | Morgan | New berlin | 40.00 | $10,000 |
| 2/2011 | Macon | Oreana | 36.50 | $8,950 |
Types of Buyers - There are a lot of different shapes and sizes of people wanting to buy farmland. Active farmers have cash. Retired farmers are loving their investment. Extended agricultural families are involved. Local professionals, investor groups, and international buyers are all in the market. Everyone focuses on farmland as an investment.
About Sellers - Almost magically - - the $10,000 price level has brought out more sellers to the market. These landowners have been quiet as the market rose rapidly from $7,000 an acre. Now the current level appears to be making people decide to sell. Land is available.
April 2011 Farmland Barometer
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