Nebraska Farm Real Estate Market Survey Results released by the University of Nebraska-Lincoln revealed that Nebraska Panhandle agricultural land declined in value for the reporting year ending Feb. 1.
The average farmland value in the Panhandle region is estimated to be $680 per acre, 5% lower than the prior year. The highest all-land average in the Panhandle was reported in 2015 at $860 per acre.
The eight major types of land reported in the survey, and the average value of each type, are listed in the accompanying table. In the Panhandle, dryland cropland and hayland saw the largest declines in value, dropping 7%. Tillable grazing land saw the smallest decline at 2%.
The report also discloses cash rental rates. The results showed the fourth consecutive year of Panhandle rental rate declines. The only exception to this decline was pasture rental rates and cow-calf pair rates which were both up 1% over the previous year
To view the report visit: http://agecon.unl.edu/realestate