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Farmland market “stable” in southeast Minnesota

A certified appraiser in southeast Minnesota calls the farmland market stable.

Nick Reps with Compeer Financial tells Brownfield since 2020, land prices have risen 40 to 60 percent.

“Sales have probably kept pretty stable I would say recently in terms of volume, and in terms of even values more recently too I’d say they’ve probably leveled off or even stabilized.”

He says high interest rates and lower commodity prices don’t seem to be pressuring land values yet.

“Based on recent activity and talking to buyers and sellers, sometimes that point comes up where they do mention interest rates have increased and it costs (them) more to buy property. But I think it’s yet to be seen.”

He says the region he covers reaches from Rochester down to Austin, and east to the Mississippi River.

Reps made these comments during an upcoming client partnership content podcast with Compeer Financial and Brownfield Ag News.