Farmland values leveling off after recent dip

Farmland values are stabilizing, and Clark Jackman of Frontier Farm Credit anticipates the market will be relatively stable all year.
Jackman says the best farmland in Kansas, including eastern Kansas, has held its value fairly well since the market last peaked at the end of 2014 and start of 2015. Land of lesser quality came down as much as 25 percent since that peak.
Frontier Farm Credit says average sale prices rose slightly in eastern Kansas, as well as Iowa, Nebraska and South Dakota. However, real estate values dipped in Kansas, Nebraska and South Dakota.
Frontier Farm Credit tracks market trends by using seven different benchmark types of properties and then formally appraising those every six months. There was a 3.2 percent drop in overall value for last year, due largely to irrigated cropland represented with those benchmark farms.