Date of this Version
Farm real estate represents about three-fourths of the total value of farm production assets in Nebraska. Consequently, changes in value, ownership patterns, and other characteristics of the farm real estate market exert significant impact on the economic and social well-being of agricultural producers, rural communities, and the State as a whole. The dynamics of the farm real estate market, particularly in recent years, suggests that accurate and complete information concerning this market is of great importance. From the standpoint of the public interest as well as that of individual participants, all land market decisions should be based upon a sound understanding of the current market situation. The purpose of this report is to provide information about the current farm real estate market and recent developments in Nebraska. A historical perspective of Nebraska farmland values is first presented. Findings from the 1978 Nebraska Farm Real Estate Market Survey conducted by the Department of Agricultural Economics are then analyzed. Specific characteristics of actual sales occurring during 1977 also provide insight into the farm real estate market.