Land prices: it finally happened

[Lanse couche couche]

About two years ago, my father predicted that land prices in southern Illinois would hit 5K an acre in the near future. I thought that he was full of it. Well, in the space of two years, the asking price for land jumped up to 3K an acre. This past weekend, i was in Illinois and saw a 300 acre piece of land advertised for 5 to 5500 an acre depending on the particular tracts involved. I don't think i will be buying any more land soon unless i win the lottery.

[Mason Nolan]

Absolutely crazy. We hunt in So. Illinois every year and I saw some crap ground going for 3500 an acre the other day, but 5000 is freakin nuts...

[Lanse couche couche]

Well, between the deer hunting craze and rising demand for corn for ethanol, we are seeing the rural land boom. But, the silver lining is that such land is much less likely to be wasted on strip malls and subdivisions.

[il coyote]

Isn't it great?

Better cozy up with a farmers daughter real soon, and even that wont be a sure bet.

That's the way it's going, old farmers die, and his kids sell it off to the highest bidder before the old man's funeral is over.

In Morgan Co, the tillable prices are still higher than the untillable prices, but it's getting closer by the day.

[j_beste]

It only sells for what people are willing to pay for it. Until the parcels stop selling the prices will keep climbing. It makes sense to me. Every year there is less rural land available and every year there are more people. I dont think it will ever go down, at least not for long.

[Lanse couche couche]

I kick myself every day for not buying a bunch of land when it was down around 1000 an acre. I was fortunate to buy 19 acres of woods when you could still get it for 1300 an acre. Between that and having a lot of good neighbors and farming cousins, I have plenty of space to hunt. But, I really feel for a lot of other folks

[j_beste]

I bought an 80 five years ago cause I saw what was happening. Got it just over 1k an acre. If I hadnt got it then, there is no way I could get it today at these prices.

[Feistman]

Here in the northern part of Michigan's lower penninsula, high & dry 10 acre wooded parcels are going for as much as $80,000. People are snapping them up and building 5,000 sq. ft. homes on them.

[whitetaildave24]

Here in Brown county Indiana the average price for an acre of land is about $7,500 and can go a lot higher. Lots on the lakes here, about 1/4 of an acre, can go for well over $30,000. It is getting way out of control. But like was said before, if people continue to pay for it, then the prices have no where to go but up.

[Lanse couche couche]

Well, the crazy thing is that my neck of the woods is nothing special and is way off the beaten path. No big lakes or scenery, so-so farmland, so-so local economy. The deer hunting is great, but it is great everywhere in southern Illinois. Just makes me wonder what the prices are getting up to on the edge of greater St. Louis or chicago.