This morning I visited with a Realtor/Auctioneer from Illinois. He was calling with questions about one of my Missouri listings. Like so many calls, the conversation transitioned to land prices and speculation regarding future prices.
Something my Illinois friend said, struck a cord. He said, “I’ve been doing this for 30+ years and I normally carry 15 to 30 land listings. Today I have zero listings.” His story parallels mine, I generally carry 15 – 25 listings, however, with 14 properties under contract to close in May, June, & July, I will be left with just 3 active listings, unless something changes.
When my friend called, I was reading a story about a record-breaking farmland sale in Plymouth County Iowa, that took place Friday. Just over 96 acres of land were sold at auction for $25,000 an acre to a local family. This price is an exception, even for Plymouth county, however, many sales here in Missouri continue to exceed seller expectations.
Stories of high sale prices and low inventory are resonating across the farm belt. This supply and demand scenario has presented an opportunity for owners that might consider selling. What does the future hold, you ask? All of us like to speculate, but we know it’s an impossible question to answer. What I do know is the current market is seeing unprecedented prices and the stars are aligned, if you’re a seller. If this trend continues for the remainder of 2022 we will continue to see strong sale prices into the fall.
If you’ve been considering selling, please educate yourself before making a move. It’s very important to know the market and time it. One of my most recent listings sold for full asking price and the seller enjoyed choosing from multiple offers in just 24-hours. Several potential buyers called and said, “that farm will never bring that.” I had to tell them, “it’s already under contract.”
Give me a call to discuss selling options, recent sale prices, and how those farms compare to your property. I tell everyone the same thing, “you might be surprised what your Missouri farm is worth.” The call is free to find out. (816) 262-6178