Virginia Farmland Values

by Staff on September 15, 2014

Virginia Farmland ValuesAccording to the National Agriculture Statistics Service, statewide Virginia’s agricultural farmland increased slightly in price over the past year.  They report that there has been a 0..2% increase in cropland values per acre from 2013 to 2014.   That translates to $10 per acre to now  $4460/acre.  That is slightly higher than the value of pastureland which remains at $3930/acre.   Since 2010 Virginia farm real estate per acre has increased slightly also at 0.2%/acre.  The largest part of the increase has been 2012-2013 where there was a 1.2% increase in the price of farmland and buildings.

Rents for irrigated cropland in VA now average $100/acre and rents for non-irrigated cropland are now $54/acre as a statewide average.

Nationally there have been greater farmland price increases.  The U.S. increase of all U.S. farmland values is up 8.1% overall just since 2013.

As with all averages, the truth is always clearer on a smaller scale.  In our area counties of Albemarle, Buckingham, Fluvanna, Greene, Louisa, Madison, Nelson and Orange …. in the past 12 months, of approximately 15 sales of farmland-type property with at least 25+ acres,  those averaged approximately $8000/acre.   Those numbers reflect just land/acreage and do not take into account properties with homes that affect the values.   Feel free to give us a call to ask about recent sales in the various counties of our specific Central VA area.

Prime example of the value of averages:  What is our average weather in the U.S.?

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