A piece of Missouri farmland has broken the national record after selling for $34,800 per acre.
According to AgWeb Farm Journal, the sale happened last Thursday in Saline County, Mo. Two farmers got into a bidding war over a 115-acre parcel, ending in a final price tag of $4,002,000.
That new record sale occurred in Missouri, the state with the lowest average land values throughout the corn belt. According to the National Agricultural Statistics Service report on U.S. farm real estate values, the average per-acre price of land in Missouri was $4,500 in 2023.
In Indiana, the average price per-acre was more than double that at $9,100. Indiana has seen a nearly 14 percent increase in farm real estate values since last year.
The previous record holder happened last year in Iowa, when a 73-acre plot of farmland sold for $30,000 an acre.
Experts said that while land markets have seen a slowdown, the record sale illustrated that with high-quality ground and cash in hand, anything is possible.
Read more: Indiana's average farm real estate value up 13.8% since 2022
