Oklahoma Land Value Update
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Oklahoma Land Value Update Roger Sahs, Extension Specialist, Ag Econ.
description
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 $1240 % Chg -0.6. Northeast - PowerPoint PPT Presentation
Transcript of Oklahoma Land Value Update
Oklahoma Land Value Update
Roger Sahs, Extension Specialist, Ag Econ.
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OK Land Values by Region, 2010
PanhandleTracts 25Size 449$/Acre $572% Chg +15.3
West-NorthwestTracts 121Size 290$/Acre $977% Chg -2.5
North CentralTracts 198Size 145$/Acre $1240% Chg -0.6
NortheastTracts 280Size 148$/Acre $1535% Chg +1.8
East-NortheastTracts 48Size 201$/Acre $1743% Chg -1.4
South CentralTracts 69Size 238$/Acre $1419% Chg -3.3
SoutheastTracts 242Size 174 $/Acre $1394% Chg +3.2
State AveragesTracts 1176Size 190$/Acre $1291% Chg +2.9
SouthwestTracts 193Size 202$/Acre $990% Chg +6.3
District2010 All
LandOne Year Change
3 Year Change
5 Year Change
$/ac Percent Change
Panhandle 572 15.3 40.2 106.2
West-NW 977 -2.5 3.6 42.1
Southwest 990 6.3 17.7 52.6
North Central 1240 -0.6 10.0 19.4
South Central 1419 -3.3 0.2 10.1
Northeast 1535 1.8 4.3 31.9
East-NE 1743 -1.4 -4.9 24.3
Southeast 1394 3.2 -1.6 47.5
State 1291 2.9 5.2 33.5
Recent Trends in Oklahoma Land Values
Source: www.agecon.okstate.edu/oklandvalues
Survey of Tenth District Ag Credit Conditions
Source: KC Federal Reserve Bank, First Quarter, 2011
Oklahoma Cropland vs Pastureland Prices
Source: www.agecon.okstate.edu/oklandvalues
Cropland Valuesin nominal & real (2000) $
Pasture Valuesin nominal & real (2000) $
Source: www.agecon.okstate.edu/oklandvalues
North-Central – Annual Average
Source: www.agecon.okstate.edu/oklandvalues
Payne County3-Year Weighted Average, 2008-2010
Source: www.agecon.okstate.edu/oklandvalues
210 334 254 183 453 800 332590 601
2202
491
359378
425
382469550
292
388
349472628
469378
229
240392 455 646
561372339
214 414
813 371 340489
386
274255309
307
272239265
391
556
710488508
655
464
473491
314266 376
370423
434304
380393
380273
308 313
1973-1975 Average ValueTracts >= 40 Acres and <= $3000/Acre
292383330344
339356
350272384
< 500> 500 to 700> 700 to 1100> 1100
Source: www.agecon.okstate.edu/oklandvalues
2008-2010 Average ValueTracts >= 40 Acres and <= $3000/Acre
Source: www.agecon.okstate.edu/oklandvalues
County 1973-75 Average($)
2008-10 Average($)
% Change
Love 356 2,134 499Coal 273 1,450 431Pittsburg 272 1,443 431Marshall 339 1,763 420Delaware 382 1,982 419Johnston 308 1,591 416Okmulgee 307 1,569 411Okfuskee 214 1,089 409Pushmataha 292 1,472 404LeFlore 274 1,373 401
OK Counties with Largest Increases in Land Values
Source: www.agecon.okstate.edu/oklandvalues
County 1973-75 Average($)
2008-10 Average($)
% Change
Alfalfa 800 1,273 59Texas 334 559 67Kingfisher 646 1,089 69Grant 590 995 69Kay 601 1,087 81Garfield 628 1,171 87Cimarron 210 414 97Major 469 927 98Caddo 464 925 99Tillman 423 862 104
OK Counties with Smallest Increases in Land Values
Source: www.agecon.okstate.edu/oklandvalues
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
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
