1972 North Dakota Farmland Prices

The article is a discussion of those factors affecting the 1972 valuation of farm land prices in North Dakota. Average farmland values in 1972 rose an estimated nine per cent to a new high of $104 per acre by December 1, 1972. Major factors felt to influence the dramatic rise include substantial increases in farm commodity prices (reflected in both higher gross and net farm incomes), more loanable funds available, continued strong demand for farm expansion purposes, and not too many farms being offered for sale. The 1972 report was based on 133 general estimates of the 1972 farmland market and on detailed for 208 farm sales. In addition, technological developments have increased the productivity of the land and resulted in the expectations of increased income through more technological advances.