The pace of land sales picked up this year for Farmers National Company. The company is on-track for a near record or record sales year on several fronts. The higher land prices have spurred an increased number of landowners to sell with some wanting to complete the sale prior to year-end due to uncertainty about potential tax law changes.
The question becomes whether the increased sale activity will continue into 2022. Based on the calls from landowners that Farmers National Company is receiving, it would seem that land sales will continue to be brisk into the new year. Company agents are booking sales and listings not only through the end of the year, but also into the next year.
The higher land prices are continuing to come into play in the sale or keep decision making of landowners now and as they look to the immediate future. Those thinking of selling are weighing whether land prices will plateau at these levels and they should sell now or if land prices will continue to increase and they should sell later.
Many landowners are deciding to sell now and capture the current high prices. Some of these sales are being pushed to 2022 which leads us to think that the brisk land sales pace may continue into early next year.