1966•AgEcon Search (University of Minnesota, USA)Open access
THE MINNESOTA RURAL REAL ESTATE MARKET IN 1965... INCLUDING A SPECIAL STUDY OF THE SMALL TOWN RESIDENTIAL PROPERTY MARKET
John English, Philip M. Raup, English, John C., Raup, Philip M.
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Abstract
Farm Real Estate MarketFarm land values are rising slowly after being stable between 1959-1962.Increases have been centered near the Twin Cities.Land turnover remains at a low level.Farm expansion buyers in 1965 purchased more than a half of all farms reported sold.This is the first time expansion buyers have accounted for over half of the farm land market.Expansion buying has narrowed the differential in value between land with and without buildings.Unimproved land sold for 89 percent of the price received for land with buildings in 1965.Credit financing remains at a high rate with the land contract being used in almost half of all sales.Town Residential Sales (Towns of under 5000 puoulation only)The value of houses (including lots) in small towns in highest in the Twin City area and Southeastern Minnesota.Houses constructed since 1946 have almost fifty percent higher values than those of pre-World War II construction.The residential real estate market was again weakest in Southwestern Minnesota.
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