Early signals are that 2018 will be a great year to sell farmland
By all indications, 2018 is shaping up to be an excellent year for selling farmland. We saw it in Minnesota and Iowa, where the auction of 1,371 acres brought $10.2 million. And we saw it again on Wednesday March 7, in Faulk County, South Dakota, when a Steffes Group Auction of 2,117 acres brought more than $8.7 million.
The Faulk County auction attracted a crowd of 125 bidders, including 37 registered bidders. Bidding was vigorous, with 480 acres selling for $5,100 per acre and another 304 acres selling for $4,400 per acre.
“We’ve had several years of flat farmland prices and commodity prices, but now everything seems to be perking up. We’re seeing more demand in our auctions not only for land, but for farm equipment and other assets,” said Scott Steffes, president of the company. “A lot of farmers and investors who have been waiting for a stronger market for selling assets are realizing that the marketplace seems to have improved markedly.”
Steffes announces another big land sale – 2,050 acres in Grant County, WI
Steffes Group has announced the auction of 2,050 acres of highly productive farmland in what we believe to be one of the biggest farmland auctions ever in Grant County. This will be a court-ordered auction of tillable land as well as a modern cattle feeding facility, four confinement hog finishing units, three residences and some recreational land.
When a property like this becomes available, it’s common to find neighboring operators who have been waiting for years or even decades for a chance to buy. But given the shortage of quality farmland in recent years, we believe this will merit the interest of private investors and even funds.
The auction will begin at 10 a.m. Wednesday, March 28, at the Grant County Fairgrounds Youth & Agriculture Center in Lancaster, Wisconsin.
