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Oklahoma Land Value Update. Roger Sahs, Extension Specialist, Ag Econ. West-Northwest Tracts 142 Size 275 $/Acre $1226 % Chg +25.5. North Central Tracts 124 Size 140 $/Acre $1403 % Chg +14.3. Northeast Tracts 241 - PowerPoint PPT Presentation
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Oklahoma Land Value Update
Roger Sahs, Extension Specialist, Ag Econ.
OK Land Values by Region, 2011
PanhandleTracts 26Size 522$/Acre $662% Chg +15.8
West-NorthwestTracts 142Size 275$/Acre $1226% Chg +25.5
North CentralTracts 124Size 140$/Acre $1403% Chg +14.3
NortheastTracts 241Size 191$/Acre $1578% Chg +2.8
East-NortheastTracts 55Size 123$/Acre $1816% Chg +4.2
South CentralTracts 88Size 167$/Acre $1588% Chg +11.9
SoutheastTracts 184Size 212 $/Acre $1468% Chg +5.3
State AveragesTracts 1052Size 207$/Acre $1383% Chg +7.3
SouthwestTracts 192Size 215$/Acre $1040% Chg +5.1
District2011 One Year
Change3 Year Change 5 Year Change
$/ac Percent Change
Panhandle 662 15.8 28.2 114.1
West-NW 1226 25.5 21.6 63.8
Southwest 1040 5.1 11.3 55.4
North Central 1403 14.3 13.5 25.3
South Central 1588 11.9 -2.7 17.9
Northeast 1578 2.8 6.6 24.2
East-NE 1816 4.2 -2.1 4.6
Southeast 1468 5.3 2.7 26.5
Cropland 1390 17.4 20.2 53.1
Pasture 1449 4.0 3.5 18.3
State 1383 7.3 8.2 26.1
Recent Trends in Oklahoma Land Values
Source: www.agecon.okstate.edu/oklandvalues
Oklahoma Cropland vs Pastureland Prices
Source: www.agecon.okstate.edu/oklandvalues
Survey of Tenth District Ag Credit Conditions
Source: KC Federal Reserve Bank, First Quarter, 2012
1973-1975 Average ValueTracts >= 40 Acres and <= $3000/Acre
Source: www.agecon.okstate.edu/oklandvalues
2009-2011 Average ValueTracts >= 40 Acres and <= $3000/Acre
Source: www.agecon.okstate.edu/oklandvalues
County 1973-75 Average($)
2009-11 Average($)
% Change
Love 356 1,957 450Marshall 339 1,819 437Johnston 308 1,612 423Okfuskee 214 1,105 416Pittsburg 272 1,380 407LeFlore 274 1,389 407Coal 273 1,372 402Pushmataha 292 1,459 400Adair 340 1,685 396Delaware 382 1,878 392
OK Counties with Largest Percentage Increase in Land
Values
Source: www.agecon.okstate.edu/oklandvalues
County 1973-75 Average($)
2009-11 Average($)
% Change
Alfalfa 800 1,193 49Grant 590 1,004 70Kingfisher 646 1,122 74Texas 334 633 89Garfield 628 1,193 90Cimarron 210 402 92Kay 601 1,193 99Major 469 1,030 120Noble 472 1,077 128Cotton 384 887 131
Source: www.agecon.okstate.edu/oklandvalues
OK Counties with Smallest Percentage Increase in Land
Values
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
Source: KC Federal Reserve Bank, Second Quarter, 2012
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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
