field with corn plants just emerging
LOOKING UP: Recent increases in grain prices and in the cow-calf market are bringing optimism to the market for Nebraska land.

More optimism in the land market

Despite properties selling for less than a year ago, land values haven't seen a significant decline, and there's a lot of optimism in the market thanks to recent increases in grain and cattle markets.

Farmland is selling for approximately 10% to 15% less than it was a year ago west of Highway 281 in Nebraska, and approximately 5% to 10% less than a year ago east of Highway 281. Grain prices have seen a recent increase and the cow-calf market has improved, so there is a lot more optimism in the market.

Stock Realty and Auction Co., St. Edward, a licensed real estate broker in eight states, compiles the reports for this column, but not all sales are handled by Stock each month. Contact Stock at 800-WE-SELL8 (937-3558). The following are several of the most recent sales.

East
Seward County: 120 acres sold at private treaty for $696,000, or $5,800 per acre. This is a gently rolling, L-shaped combination farm with 12 acres of very developable grass. There are a few pockets of trees, and the balance is in dry cropland. — compliments of Stock Realty & Auction Co.

Southeast
Pawnee County: 160 acres sold at auction for $512,000, or $3,200 per acre. This farm is highly tillable, excellent-producing crop ground. Located southwest of Pawnee City, it is a well-cared-for, gently rolling farm with excellent-producing soils. — compliments of Farmers National Co.

North
Holt County: 160 acres sold for $184,000, or $1,150 per acre. This farm consists of a subirrigated hay meadow south of Inman. — compliments of Stock Realty & Auction Co.

South
Webster County: 184 acres sold at auction for $644,000, or $3,500 per acre. This is a productive dryland farm with Holdrege silt loam soils and gently rolling terrain. This farm offers good access to many grain marketing locations. — compliments of Farmers National Co.
Phelps County: 154.46 acres sold at auction for $1,235,680, or $8,000 per acre. This is a pivot-irrigated farm that offers predominantly Holdrege silt loam soils. A new well was drilled in 2003, and the landowner owns the T&L pivot. — compliments of Farmers National Co.

 

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