The Jamestown (N.D.) Sun, Published September 08 2012
Land prices in Stutsman County reach record highJAMESTOWN, N.D. - The price of investing in Stutsman County farmland hit a record high this week with the sale of two parcels Thursday. The price for the half section land approached $1 million.
“We had one quarter (section) sell for $3,450 per acre and another for $2,650 per acre,” said John O’Meara, auctioneer and land manager for Pifer’s Auction Service. “That is the highest for Stutsman County land at this point.”
Noel Johnson, certified real estate appraiser in Jamestown, said land prices have been climbing but agreed that $3,450 per acre was probably a Stutsman County record. He noted some parcels in LaMoure County had recently sold for more than $3,500 per acre.
“You take a look at commodity prices and low interest rates and ownership makes sense,” he said. “You talk to any farmer right now and they’ll say they are doing good.”