If you’ve got farmland to sell, chances are you’ll get a good price this year, says land management company Farmers National.
Increased demand for top quality land is driving up sales prices in Tennessee and the rest of the Mid South region, the company said in a recent report on land values.
“We have seen prices increase up to 30 percent on top land in some areas with no sign of a slow-down,” Keith Morris, an area sales manager for Farmers National Co., said in a news release.
“Product is getting harder to find, driving some buyers to look at poorer quality farms, with plans of upgrading them,” said Morris, who covers Tennessee, Mississippi, Arkansas, Alabama, western Kentucky, Louisiana, and southern Missouri.
Top Tennessee farmland is selling for an average of $3,500 per acre,Farmers National says.