A 115-acre parcel of farmland in Saline County, Missouri, sold for a record $34,800 per acre last Thursday. This sale broke the previous record of $30,000 per acre set in Iowa last year.
Despite a slowdown in land markets, the high price of the Missouri sale was likely due to the high quality of the land and the fact that the buyers had cash in hand.
The average price of farmland in Missouri is significantly lower than the national average, at $4,500 per acre in 2023. In contrast, the average price per acre in Indiana was $9,100 in the same period.
The record sale highlights the fact that there is still strong demand for high-quality farmland. Farmers are willing to pay top dollar for land that is well-located and has the potential to produce high yields.
Photo Credit: gettyimages-sizsus
Categories: Missouri, General