Report: Farmland Values Shoot Up
Thursday, November 17th, 2011 -- 9:42 AM
While other real estate has struggled, the value of farmland is going up in the Midwest.According to [i]Wisconsin Ag Connection[/i], farmland value has enjoyed its largest year-over-year jump in more than 30 years. From July through September, farmland values were up 25 percent from a year ago, with the value of 'good' agricultural land during the three-month period up seven percent from the previous quarter. That matches the highest previous quarterly gain set back in 1977.
Wisconsin ag property increased by 17 percent from last year--which is the smallest increase in the five-state district--and went up four percent since the last quarter.
Data also suggests demand for farmland will remain strong for the foreseeable future.
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