Broad Farm Market Prices
Posted by Hill Parker onFarm Prices- The Wall Street Journal recently reported that home prices rose an average of 10.4% over the last year. Sometimes numbers can be misleading. For our broad farm market including anything 5 acres or more, the average price has increased from $438,144 to $513,900 over the last year. On paper, this looks like a 14.7% increase in purchase price. In realty, farm values are rising but a much slower basis than the average makes it appear. The total sales volume for the farm market has increased from $108,659,796 to $142,350,269. The total volume is skewing the average higher but the reality is that average sales price for farms under $500,000 has gone from $186,821 to $193,266, the average sales prices for farms between…
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2019 turned out to be a good year for horse farm sales in Lexington, Kentucky and the surrounding counties. The average selling price increased about 2% from $1,150,160 in 2018 to $1,172,627 in 2019. The median selling price increased from $675,000 in 2018 to $725,000 in 2019. Horse farm sales continue to be slow compared to residential sales in the area with the average days on the market increasing from 111 days in 2018 to 146 days in 2019. The total volume of horse farm sales decreased from $67,859,453 in 2018 to $62,149,250 in 2019. The strength in the market in 2019 was in the horse farm sales at or under $800,0000 with the average selling price increasing from $439,132 in 2018 to $448,172 in 2019. The more expensive the horse farm, the more…