Farms.com Home   Ag Industry News

Farm real estate sales consistent in 2020

Farm real estate sales consistent in 2020

Low interest rates were one factor that kept business moving this year

 
Staff Writer
Farms.com

While many things changed in the farm real estate industry in how business was conducted this year due to COVID-19 restrictions, prices and property sold continued to move forward in normal fashion.

“It was a very positive year actually for buyers and sellers,” said Sheldon Froese. He is a realtor with Royal LePage Riverbend Realty Farm Division based in Steinbach, Man.

Froese is a relator in Saskatchewan and Manitoba and saw some increase in demand for dairy farms in Manitoba and an increase in prices for in demand land.

“There were still some pieces that sold what we would consider fairly high and that's from pressure from two or three different buyers,” driving up the price, he told Farms.com.

Low interest rates were another factor in keeping business moving, said Froese.

“Interest rates are very low and continue to be that way. So, that definitely triggered some people to buy maybe smaller pieces because (they) see a good opportunity to buy it at a pretty cheap rate,” he said.

Staff at Royal LePage Riverbend Realty Farm Division also kept sales moving by adapting to communication challenges and will continue to do so into 2021.

“Some clients were very comfortable with us being in person, social distancing and (wearing) masks, but a lot of clients just prefer to do Zoom calls. It was a different world… But in the end, there's always a way to make things work,” said Froese.

Allexxandar/iStock/Getty Images Plus photo


Trending Video

MY26 Pro 1200 Configuration Diagnostics for Early Riser 2000 Series Planters

Video: MY26 Pro 1200 Configuration Diagnostics for Early Riser 2000 Series Planters

Discover the Configuration Diagnostics screen on the Model Year 2026 (MY26) Pro 1200 planter software. This tool is designed to help operators verify proper software configuration and easily troubleshoot issues during both initial setup and in-field operation of their Case IH Early Riser 2000 series planter.