Landowners appear to be getting more interested in selling agricultural land. The total amount of land that Farmers National Company has listed for sale is up 21 percent compared to last year.
Randy Dickhut is the senior vice president of real estate operations at Farmers National Company. He says most of the sales are coming from individuals or ownership groups who’ve decided that now is the time to sell. “They may have inherited the land or even owned it for years, but sellers have watched the land market, and some are deciding to take advantage of the still historically good land prices,”
Dickhut says. “Some sellers are thinking that there is more downside risk in land prices than upside potential, so now is the time for them to sell.” At the other end of the spectrum, Famers National says buyers are generally more cautious right now, which causes some land brokerage companies to experience more no-sale auctions that don’t achieve the reserve price during the public auction sessions.