Spike in land sales continues into fall


Spike in land sales continues into fall

Farmer’s National Company is approaching record land sales this year with activity continuing to pick up this fall.

Randy Dickhut, Senior Vice President of Real Estate Operations, tells Brownfield they have sold 50% more acres compared to the last several years and 65% more dollar volume.

“Part of what we are seeing is more people selling because of higher land prices, which is getting a few of those recent inheritors or trusts that are out there to think about capturing that higher price. The other side is there is good demand from farmer buyers who are seeing high commodity prices coupled with good farm income coming off of last year.”

He says uncertainty around estate tax changes and potential removal of stepped-up basis by congress has also swayed decisions.

“There were definitely people calling us from late spring, early summer and on wondering if they should go ahead and sell this year because of that. Some of that has settled out a bit but it has definitely added to the number of people bringing their land on the market.”

Dickhut thinks sales may slow back down some at the beginning of 2022, but that will all depend on interest rates, tax changes, the farm economy, and grain prices.