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Nobles County farm land sells for $17,250 per acre at auction

Buntjer said that whether bidders will continue to pay so much will depend on the interest rates, among other factors.

Corn field
Corn field
Stock image by Ilia Usmanov on Unsplash
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ADRIAN — An 80-acre tract of farmland 2 miles south of Adrian sold for $17,250 per acre at auction last week, topping the charts as the highest land sale price in Nobles County.

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“In this area, you don’t see a lot of land coming up for market around the Adrian-Ellsworth area,” said auctioneer Randy Buntjer, who sold the property.

All of it was tillable, apart from the road, he said. The Crop Productivity Index on the land was 88.30.

Around 40 people were at the auction, which lasted about half an hour, and four different people bid on the land, all of whom were area farmers, according to Buntjer.

As the sale has not yet been recorded with the county assessor, the office could not verify that it was the highest, but noted that in the previous 22 months, the highest recorded sale price was $15,750 per acre for a piece of bare land in Ransom Township sold in December 2021.

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Buntjer said he had also recorded high sales prices in Rock County, at $19,700 per acre for land sold in August, which he believes is the current high for the state of Minnesota, and in Murray County, for a piece of land that came in at $14,700 per acre.

The buyers in all three cases were local.

Buntjer said that whether bidders will continue to pay so much will depend on the interest rates, among other factors.

“The farmers got a couple good years here with good commodity prices, and interest rates have been favorable to them,” he said. “We’ve had good crop prices and good yields here the last couple years. That’s driving these prices up.”

Related Topics: NOBLES COUNTYAGRICULTUREFARMING
A 1999 graduate of Jackson County Central and a 2003 graduate of Augsburg College, Kari Lucin started writing for newspapers in Minnesota and North Dakota in 2006. During her time as a reporter, she covered beats including education, watershed, county and agriculture, and frequently wrote about health and science. She has also served as an online content coordinator and an engagement specialist at various Forum Communications properties. She was a marketing assistant at Iowa Lakes Community College in Estherville for two years, where she did design work in addition to writing and social media management.

Lucin is currently a community editor with the Globe of Worthington.

Email: klucin@dglobe.com
Phone: (507) 376-7319
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