Appraisers Report 14% Land Value Increase

Appraisers Report 14% Land Value Increase

Land values climbed an average of 10% in Red River Valley.

Average cropland values in North Dakota increased 14% in 2011, according to the North Dakota Chapter of the American Society of Farm Managers and Rural Appraisers

Cropland in the Red River Valley, which consists of 12 counties in Minnesota and North Dakota, increased the most -- 10%

Individual counties saw some big increases in land prices.

Slope County, in southwest North Dakota, had an 81% percent increase, with sale prices ranging from $700-$1,650 per acre this year compared to $500-$800 per acre last year. Also in the southwest, Golden Valley County had a 63% increase and Bowman County had a 57% increase.

In the east, Barnes County had prices in the range of $800 to $4,300 per acre this year compared $725-$2,575 last year, for a 55% increase. Cass County prices ranged from $1,200 to $5,720 per acre this year, compared to $800 to $3,500 per acre last year for a 61% hike.

Despite excessive rain in the north central part of the state, land prices remained strong. In Renville County, copland prices increased 31%.

Since 2008, the average value of ag land in North Dakota and in the Red River Valley has increased 36%

Land values climbed 50% in the northeast, 43% in the southeast, 48% in the northwest and 53% in the southwest.

The American Society of Farm Managers and Rural Appraisers North Dakota Chapter has 59 members. Most members hold a designation such as Accredited Rural Appraiser, Accredited Farm Manager, Real Property Review Appraiser, Member Appraisal Institute and/or are a Certified General Appraiser. Thirty four members contributed to 2011 report.

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