Panhandle farmland values continue to increase
Tue, 02 Oct 2012 22:16:54 GMT —
Many crops are in high demand right now, and that demand has brought higher value to farmlands throughout the Texas Panhandle.
Both dryland farms and irrigated farms are gaining value, attracting farmers from other parts of the United States.
"With the price of our land, say, in the Midwest hitting $12,000 to $14,000 an acre, they find that even with our cost of irrigation here they can afford to pay well up into the $3,000 to $4,000 range on good, irrigated farms," Clift Land Brokers Agent Jerry Schniederjan said.
More land auctions are being held across the area, Schniederjan said, proving land is a good place for people to put their money. The values are higher than they were ten years ago and Schniederjan said he thinks those values will continue to go up.
"There seems to be some resistance at the level that we're at right now. But that's been through the summer where everybody has been farming. We expect this winter to be a very active winter as far as land sales."
Not only are farmland values increasing in the Panhandle; they are also higher than those in other parts of Texas.
"The quality of our land here, the consistency although last year was terrible," Schniederjan added. "Overall, we have pretty consistent yields up here and it just seems that people have discovered the Panhandle, too."
As long as commodities continue to be in demand, Schniederjan pointed out, farmers should have no worries about the value of their land decreasing.