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Oklahoma Land Value Update

Oklahoma Land Value Update. Roger Sahs, Extension Specialist, Ag Econ. www.agecon.okstate.edu/oklandvalues. West-Northwest Tracts 121 Size 290 $/Acre $977 % Chg -2.5. North Central Tracts 198 Size 145 $/Acre $1240 % Chg -0.6. Northeast

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Oklahoma Land Value Update

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  1. Oklahoma Land Value Update Roger Sahs, Extension Specialist, Ag Econ.

  2. www.agecon.okstate.edu/oklandvalues

  3. West-Northwest Tracts 121 Size 290 $/Acre $977 • % Chg-2.5 North Central Tracts 198 Size 145 $/Acre $1240 • % Chg -0.6 Northeast Tracts 280 Size 148 $/Acre $1535 • % Chg+1.8 East-Northeast Tracts 48 Size 201 $/Acre $1743 • % Chg-1.4 Panhandle Tracts 25 Size 449 $/Acre $572 % Chg +15.3 Southeast Tracts 242 Size 174 $/Acre $1394 • % Chg +3.2 State Averages Tracts 1176 Size 190 $/Acre $1291 % Chg +2.9 Southwest Tracts 193 Size 202 $/Acre $990 • % Chg +6.3 South Central Tracts 69 Size 238 $/Acre $1419 • % Chg -3.3 OK Land Values by Region, 2010

  4. Recent Trends in Oklahoma Land Values Source: www.agecon.okstate.edu/oklandvalues

  5. Survey of Tenth District Ag Credit Conditions Source: KC Federal Reserve Bank, First Quarter, 2011

  6. Oklahoma Cropland vs Pastureland Prices Source: www.agecon.okstate.edu/oklandvalues

  7. Cropland Values in nominal & real (2000) $ Pasture Values in nominal & real (2000) $ Source: www.agecon.okstate.edu/oklandvalues

  8. North-Central – Annual Average Source: www.agecon.okstate.edu/oklandvalues

  9. Payne County 3-Year Weighted Average, 2008-2010 Source: www.agecon.okstate.edu/oklandvalues

  10. 491 425 210 334 254 453 601 359 378 183 590 800 332 378 550 628 382 472 469 469 349 229 2202 392 646 372 813 371 455 < 500 > 500 to 700 > 700 to 1100 > 1100 388 340 561 240 339 473 489 307 655 556 214 386 491 414 265 464 710 292 309 508 266 391 239 376 272 488 255 274 314 380 380 434 370 273 304 393 423 292 384 313 308 350 272 383 330 344 1973-1975 Average Value Tracts >= 40 Acres and <= $3000/Acre 356 339 Source: www.agecon.okstate.edu/oklandvalues

  11. 2008-2010 Average Value Tracts >= 40 Acres and <= $3000/Acre Source: www.agecon.okstate.edu/oklandvalues

  12. OK Counties with Largest Increases in Land Values Source: www.agecon.okstate.edu/oklandvalues

  13. OK Counties with Smallest Increases in Land Values Source: www.agecon.okstate.edu/oklandvalues

  14. Land prices going ahead… • Changes in the environment • Farm Bill • Domestic economy • Global economy • Elections/policy • Interest rates • Recreational uses • Wildlife habitat, wildlife population • Development uses • Population growth • Per capita income • Agriculture • Input prices • Cattle, wheat/feedgrain prices • Yields • Efficiency, productivity • Continued drought

  15. Resources • Agecon.okstate.edu/oklandvalues • Kansas City Federal Reserve Bank • http://www.kc.frb.org/ • Choose RESEARCH & DATA, then Economic Review or Agricultural Credit Survey • USDA Ag Land Value Data and Reports • http://www.nass.usda.gov/Charts_and_Maps/Land_Values_and_Cash_Rents/index.asp • http://usda.mannlib.cornell.edu/usda/current/AgriLandVa/AgriLandVa-08-04-2010.pdf

  16. Questions?? Roger Sahs 520 Ag Hall 405/744-9836 roger.sahs@okstate.edu

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