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Farmland sales picking up
A farm real estate expert expects a continued increase in farmland sales this year.
Randy Dickhut with Farmers National Company tells Brownfield better land prices sparked an uptick last fall which has maintained an upward trend because of optimism triggered by stronger grain prices and pandemic assistance payments.
“Auction sales have been hitting price levels near the 2013-14 top in land prices.”
He predicts those prices will hold steady and that more non-operating or recently inherited landowners will take the opportunity to sell this fall and winter. He says uncertainty about future tax policies is another driver.
“Specifically, the capital gains tax and stepped-up basis and what might or might not happen with those.”
Dickhut says they have received several calls from landowners interested in selling this year. He says family groups, estates and trusts that missed the land market rally in 2013 and 2014 will likely take advantage of the higher prices now.
