Embed Size (px)
Citation preview
Oklahoma Land Value Update
Roger Sahs, Extension Specialist, Ag Econ.
ww
w.a
geco
n.ok
stat
e.ed
u/ok
land
valu
es
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 453800 332
590 601
2202
491
359378
425
382469
550
292
388
349472628
469378
229
240
392455
646561
372
339
214414
813 371 340489
386
274255
309
307
272239
265
391
556
710
488508
655
464
473
491
314266 376
370423
434304
380
393
380273
308 313
1973-1975 Average ValueTracts >= 40 Acres and <= $3000/Acre
292
383330344
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($)
% Change
Love 356 2,134 499
Coal 273 1,450 431
Pittsburg 272 1,443 431
Marshall 339 1,763 420
Delaware 382 1,982 419
Johnston 308 1,591 416
Okmulgee 307 1,569 411
Okfuskee 214 1,089 409
Pushmataha 292 1,472 404
LeFlore 274 1,373 401
OK Counties with Largest Increases in Land Values
Source: www.agecon.okstate.edu/oklandvalues
County 1973-75 Average($)
2008-10 Average($)
% Change
Alfalfa 800 1,273 59
Texas 334 559 67
Kingfisher 646 1,089 69
Grant 590 995 69
Kay 601 1,087 81
Garfield 628 1,171 87
Cimarron 210 414 97
Major 469 927 98
Caddo 464 925 99
Tillman 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
