Farmland values in southwest Minnesota declined 3.1% in the first half of 2020, according to research done by David Bau, Extension Educator with University of Minnesota Extension. Bau’s research is conducted annually covering the first half the calendar year. Since the data covers only the first six months of 2020, the data does not pick up the rise in demand for farmland which occurred in the last quarter of the year.
The data is from farm sales recorded from January 1 through June 30 of the respective years. The data includes only bare land sales. No land and building combination sales are included. The information is from actual arm’s length sales reported to county authorities and collected by personnel of the University of Minnesota Extension.
The current summary finds Martin County sporting the highest average prices at $8,894 per acre. Rock County is the second highest with an average price at $8,698 per acre.
On a price paid per CER (Crop Equivalency Rate) per acre basis, Pipestone County notched the high with a $99.61 followed by Rock County’s $98.71.
On a percent change versus the previous year basis, Lincoln County posted the steepest decline with a 33.6% decrease followed by Cottonwood County with a 27.9% decline. Martin County recorded the strongest increase with a 28.6% gain followed by Jackson County with a 15.3% rise.