News

BigIron says strong farmland prices expected to continue

A farm real estate specialist says farmland prices remain firm and are showing no signs of slowing down.

Mark Stock, co-founder of BigIron Auctions and Realty, says ag land values have increased this fall despite higher interest rates. “The real good quality soil types, the values are up anywhere from 9-to-11%. We’ve seen some of the marginal lands stay flat, maybe just a little one or two or three percent dip.”

Speaking to Brownfield at the 2023 National Association of Farm Broadcasting Convention in Kansas City, he says demand has been strong. “Because of the scarcity of land being sold as a whole, there are still a lot of bidders and buyers looking to add real estate to their portfolios. Number one, that’s a hedge against inflation.”

Stock says many farmers have a lot of cash on hand to make land investments.

2023 NAFB Trade Talk Interview: Mark Stock – BigIron