Posted on July 3, 2019 | By Andrew Wilson
- Our team at Wilson has been involved in the sale of more than 5,200 acres in the past 2 years alone in Indiana, Kentucky and Illinois, 2,098 of which were sold in Gibson County, Indiana. We believe that because of our involvement and recent transactions in this area, we have a keen perspective of the land market.
Here’s a look at some of our recent transactions in Gibson County to give you a better idea of what you can look for in the farmland market as we progress through 2019.
- Stanley T. Berry Farm // 430 Acres in Wabash Township fronting the Wabash River – sold at $5,047/acre
- Maier Farms // 338 Acres in Wabash Township fronting Wabash River – sold at $1,568/ acre with no oil production included
- John Johnson Farm // 137 Acres in Union Township with high quality soils – sold at $15,825/ acre with portions selling for $16,200/ acre
- Wayne Sharp Farm // 37 Acre sand farm in Montgomery Township – sold at $4,900/ acre
- Hobbs-Altheide Farm // 143 Acres in Patoka Township with good soils – sold at $10,757/ acre
- Gary Harper Farm
- Tracts 1 and 2 comprising 62 total acres sold at $262,500 or $4233 per acre which is $5,052 per tillable acre – soil types entirely sand
- Tracts 3,4,6, and 7 comprising 226 total acres sold at $2,289,000 or $10,100 per acre which is $10,400 per tillable acre – soil types include mix of Vincennes, Rensselaer, and even Ragsdale loams (soil type)
- Tract 5 comprising 236 contiguous acres sold at $1,086,750 or $4,604 per acre which is $4,985 per tillable acre soil types include Zipp silty clay loam over 65% and a mix of Vincennes and Rensselaer
- Dewig Bros Farms, Inc // 292 Acre farm joining Haubstadt and Ft. Branch with quality soils and path-of-progress potential – sold at $13,492/acre average
Trends that we are noticing:
- Average age of farmland owner continues to edge up
- Existing producers are the primary buying base for the top value prime farmland; Investors are starting to re-emerge on moderate tracts and path-of progress tracts
- Buyers have increasing reasons to invest, given the emergence of wind and solar farm leasing opportunities
Our team at Wilson also recently participated in the 2019 Purdue Agricultural Economics Research (PAER) Study, which we do annually. According to the 2018 PAER Study, the value of top quality farmland in SW Indiana is stable, with a small decline in lower performing land.
In Andrew Wilson’s word, “Buyers are continuing to recognize the opportunity in investing in Gibson County Farmland, especially given the highly-productive soils, high-producing growing practices by the growers, easy access for transport to grain terminals, and potential leasing opportunity through emerging sustainable energy.”