What’s in Store for 2025’s Fall Land Market?
It’s said we are in the midst of the greatest wealth transfer in history. Baby boomers, many of whom became incredibly wealthy through land ownership, growing a business, or preserving older wealth, are gradually transitioning assets to the next generation. From a land market perspective, that means an estimated 300 million acres could change hands over the next decade. That’s a lot of land.

Of course, not all those acres will hit the open market. From what I know about family farms and production agriculture, most of that land will stay in the family or be sold privately to existing tenants. Still, the numbers don’t lie. Millions of acres will be sold through auctions or traditional listings. From my perspective, there will be significant opportunities to invest in land throughout the rest of the 2020s and into the 2030s.

What about this fall?
Despite some regional corrections, I believe we’ll see a large volume of land available this fall as part of this generational turnover. Whether it’s estate settlement or the transition to fractional ownership among siblings, cousins, and extended family, the writing is on the wall.

What’s the pricing outlook?
I attended the National Auction Association’s Conference and Show this past July. It’s an annual gathering of folks like me who are in the business of selling farmland across the country. We talk about what’s working, what isn’t, and what’s happening in our local markets. Interestingly, while we’ve seen some softening in the I-states and the Dakotas, auctioneers out East are not seeing a slowdown. One Ohio colleague told me, “Land just keeps going up.” I heard the same from folks in Indiana, Michigan, and throughout the eastern seaboard.

Closer to home, I expect some modest price corrections this fall unless we get a surprise rally in commodity prices. Even with tighter margins, demand remains strong. So if you’ve got your eye on a tract and you can make it work, don’t count on deep discounts. Sure, there may be some deals here and there, but most land is still selling just above where it pencils out. The premium tracts? Forget it. Those never make sense short term. They never have.

It’s always been about the long haul. Those who have stuck their necks out to buy quality land have usually done well. Just look around. How many neighbors did you once think were crazy for paying top dollar? If they found a way to afford it without overextending themselves, chances are they’re doing just fine. Most probably wish they’d bought more.

In summary, I expect plenty of opportunities to buy land this fall, with solid deal flow across our trade areas. I also anticipate modest price corrections and continued strong demand for tillable acres.

-Max Steffes