Based on data shared through the Lands of America Comparable Sales Program, there were 153 properties listed as sold by REALTORS© Land Institute Members in October 2018. This represents approximately $84 million and 23,000 acres of land and rural real estate sold across 114 U.S. counties and 21 states. October 2018 sales activity by REALTORS© Land Institute Members participating in the program decreased by 5 percent over the previous month and 19 percent compared to sales volume from the same period in 2017.
Listed as sold on October 1, Dave Banzhaf, broker/owner of Englewood, Colorado-based Beacon Mountain Farm & Ranch, registered the month’s biggest land deal with his sale of 7,000-acre Reyher Farm. The farm, straddling portions of Bent and Prowess counties in southeast Colorado’s agricultural belt, is set up for cattle grazing, alfalfa pellet production and farming of crops including corn. The well-irrigated acreage includes a cattle-feeding facility with a 22,000-head capacity plus alfalfa pellet mill capable of producing six tons of pellets per hour.
The month’s biggest sale by value was that of Hidden Lakes Farm in northwestern Illinois. Offered through the Land Guys’ Scott Whittington, the sprawling tract features a mix of hardwood timber, thick regrowth, and brushy cover, and beautiful, grassy upland habitat. It also includes some 150 acres of lakes and ponds stocked with a variety of popular fish species.
The Lands of America Comparable Sales Program includes almost 260,000 individual sales records dating back to March 2000. The program was put together to offer one centralized, nationwide location to assist in valuating properties. Sales information is shared on a voluntary basis by individual program participants. Please click here to learn more about participating in the Lands of America Comparable Sales Program.