Missouri landowners, lenders and appraisers invited to participate in farmland value survey – Muddy River News

COLUMBIA, Missouri – Landowners, agricultural lenders, agricultural appraisers and others with firsthand knowledge of Missouri land transactions are invited to participate in the annual Missouri Farmland Value Survey.

This University of Missouri Extension survey collects information on land transactions that occurred during the calendar year, including cropland, pastureland, forestland, and recreational and hunting land. Juo-Han Tsay, MU Extension assistant professor and survey organizer, said the survey is a helpful complement to data from the USDA’s National Agricultural Statistics Service (NASS).

“Stakeholders rely on our farmland value data to supplement NASS’s annual statewide estimates and gain a more accurate view of how land prices are trending in their region,” Tsay said in a news release. “MU Extension collects this information as a service to Missourians. For the survey to be successful, we need responses from across the state, including our urban areas.”

The 2023 survey included more than 300 responses and found a significant increase in farmland values, with the highest increase (14%) in hunting and recreational lands. Good non-irrigated farmland averaged $8,631 per acre statewide, while irrigated farmland averaged $9,678 per acre statewide.

“Respondents to our 2023 survey said they expected land prices to increase in 2024, particularly in the western region of Missouri,” Tsay said. “We look forward to gathering responses and determining whether last year’s predictions held true.”

Tsay said individuals with knowledge of a land transaction, whether they are a seller, buyer, lender, appraiser or real estate agent, are eligible to submit information. Individuals can also submit multiple responses to record multiple land transactions.

The results of the 2024 survey will be broken down into regional estimates by category and made publicly available on the MU Extension website along with previous years’ survey results.

Participants can complete the anonymous survey in 5–10 minutes at http://muext.us/landvaluesurvey24.

Tsay is urging Missouri residents to submit their responses before the August 15 deadline.