The amount of farmland being sold increased since the first of the year and charged ahead during the pre-harvest time frame recently. The increased selling will continue through the fall land sales season and most likely into early winter, according to Farmers National Company.
The boost in selling interest by landowners has been largely driven by strong land prices in the past twelve months. A normal amount of land is sold into the open market each year by estates and recent inheritors who decide to sell the newly owned asset instead of keeping it. This often happens with larger family groups who conclude that it is easier to settle the estate with cash instead of land.
However, several other reasons are bringing more landowners to conclude that now is the time to sell. Landowners cite high land prices, succession planning, and trading into better quality land. Others cite the uncertainty in tax policy being discussed in Washington.