Impact of Rainfall, Sales Method, and Time on Land Prices

Land prices in Western Kansas are analyzed using regression to estimate the influence of rainfall, sales method, and time of sale. The estimates from regression indicate that land prices decreased about $27 for each range that was farther west which can be converted to about $75 per inch of average rainfall. In addition, the influence of method of sale (private sale or auction) is estimated along with the impact of time of sale. Auction sales prices are approximately $100 higher per acre than private sales, and prices have been increasing by about $10 per month. Regression is shown to be a very useful tool to support adjustments in appraisals for several different factors that influence land prices.


Issue Date:
Jun 11 2013
Publication Type:
Journal Article
DOI and Other Identifiers:
Record Identifier:
https://ageconsearch.umn.edu/record/161487
PURL Identifier:
http://purl.umn.edu/161487
Published in:
Journal of the ASFMRA (American Society of Farm Managers and Rural Appraisers), 2013
Page range:
54-60
Total Pages:
7




 Record created 2017-04-01, last modified 2020-10-28

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