SW Minnesota Farmland Update – March
Sean Haberman
Minnesota Land Specialist
Cottonwood-Jackson-Murry-Nobles-Pipestone-Rock: SW Minnesota farmland update for March.
The demand for high-quality farmland remains strong, while lesser-quality farmland has seen a noticeable decline in recent months. We anticipate the demand for “A” quality farmland to remain strong throughout 2025.
Recent Land Transactions (January 2025 – February 2025)
Consider Selling a Farm to Buy a Different Farm
Recently, I have had the opportunity to assist several landowners in selling a piece of land to purchase another that better suits their needs. In many cases, this involves selling land that is farther from their home operation and acquiring a more conveniently located property.
One effective strategy to facilitate this transition is utilizing an IRS Tax-Deferred 1031 Exchange. This allows landowners to sell a piece of land and reinvest the proceeds into another property without triggering a taxable event. However, the 1031 Exchange process has specific rules and requirements that must be followed, so consulting with a CPA and a Qualified Intermediary before proceeding is crucial.
If you find the right piece of land but want to avoid additional leverage, a 1031 Exchange might be the ideal solution to consider!
Do you want to learn more?
If you’re considering buying or selling land, reach out to a local High Point Land Company agent. For more questions regarding land real estate, visit our YouTube Knowledge Center!
Sean, who grew up in Southwest Minnesota, has a solid foundation in agriculture. He obtained a degree in Ag Systems Technology from SDSU and spent 8 years working in the ag equipment industry as an equipment sales consultant and precision ag specialist. Sean is also actively involved in farming corn and soybeans on his family farm, which has given him a deep appreciation for fertile and productive land. Get in contact with Sean by reaching out to 507-360-6575 or emailing Sean@highpointlandcompany.com.