Source: Farmers Nationa Company news release
Interest in selling agricultural land is picking up among landowners. The amount of land that Farmers National Company has listed for sale is up 21% compared to last year at this time. Most of the sales are coming from individuals or ownership groups who are deciding that now is the time to sell.
They may have recently inherited the land or have owned it for years, but sellers have watched the land market and some want to take advantage of the still historically good land prices. Some sellers are thinking that there is more downside risk in land prices than upside potential, so for them, now is the time to sell.
Part of the increase in sales activity is seasonally driven. It is normal that sales of farms picks up prior to harvest and post harvest before the end of the year.
Auction activity picks up too as there is defined time frame for completing the sale and closing the transaction if a seller wants the deal completed before year end. Farm sale activity is also stronger during the winter months in order to transfer farm ownership prior to a new crop year.
Selling activity is also picking up at Farmers National Company due to its recognized success in selling land. Extensive local, regional, and national marketing by Farmers National Company reaches buyers looking for land and creates successful sales for sellers.
Despite the slower land market the past few years, Farmers National Company’s real estate sales have grown each year including a 5% increase in sales volume this year.