Buyers, whether farmers or investors, are looking for farms to purchase. Buying interest picked up over the summer and continues at this time. Farmers have a better income outlook than the past several years and investors are looking for a safe, stable, long-term real estate investment. Farmers National Company is getting more calls than ever from interested buyers looking for farms of all types. But, there is an average to less amount of farms for sale right now which is helping create a seller’s market for farmland.
For several months, Farmers National Company has also been getting more calls from non-operating land owners who are considering the sale of their farm or ranch. Some put a hold on thoughts of selling and sat tight during Covid-19 waiting to see what transpired. Others are now reading and hearing about the sizable increase in sales prices of good cropland which is prompting the conversation about capitalizing on the higher land values. Some sellers have owned the farm for quite a while and others are family members who have recently inherited the property.
With more interested buyers than there have been for a number of years, generally a bit less land for sale on the market, and higher land prices, it has quickly become a seller’s market for farmland. It is once again an interesting time period in the farmland market when first time investors become interested in owning farmland. These investors may be wanting to spend a few hundred thousand dollars to several million or more to buy farmland. Most will need help in learning the aspects of purchasing and owning a farm.
Even in a seller’s market, a farm does not usually sell by itself without a comprehensive marketing and sale strategy if the owner wants the best price. For example, Farmers National Company has a full set of on-line, virtual, and live auction and private treaty sales methods coupled with extensive marketing that brings in the full range of local and nationwide bidders to get the best price for a farm or ranch.