National farmland values increased 1.9 percent year-over-year. Comparatively, the Pacific Region, which includes California, Oregon, and Washington experienced a 3.4 percent increase in value from 2017.
Each year the USDA NASS releases cash rent amounts by land use for various states and regions across the country. In Idaho cash rents for all land types, irrigated cropland, non-irrigated cropland, and pasture, posted declines from 2016 to 2017. In Oregon and Washington, cropland rents increased year-over-year, but 2017 pasture rents decreased from the previous year.
According to the latest release from Northwest Farm Credit Services, agricultural real estate values in Washington, Oregon, Idaho, and Montana, are stable and increasing through the first half of 2017. Despite weaker commodity prices and less than favorable weather patterns in parts of the northwest, the constrained supply of properties for sale has continued to stabilize land values.
Northwest Farm Credit Services releases a Market Snapshot of land values quarterly. Their latest issue details market trends through 2016. The decrease in number of sales in 2013 - 2015 reflects constraints in supply rather than weak demand.
Across the region, demand remains strong for working ranches and good-quality agricultural properties due to a strong demand for grass and a limited inventory of good-quality properties. As is typical in the market, properties with premier recreational features or locales with limited private ownership are in highest demand.
Across the entire United States, during the reference period (2015-2016), the dollar volume of land sales increased the most for timber land at 5% and residential land at 4%. Agricultural irrigated land sales fell by 1%, and non-irrigated land sales by dollar volume decreased by 2%, likely due to slump in commodity prices, according to the Land Market Survey released annually by the REALTORS® Land Institute and the National Association of REALTORS®.
Focused on the Great Basin, one of 22 Landscape Conservation Cooperatives in North America, the Great Basin Landscape Conservation Cooperative (Great Basin LCC) represents a partnership among public and private groups. The Great Basin LCC supports landscape-scale conservation, promotes science, and enables management based on traditional knowledge and science so human and ecological communities can respond and adapt to climate and land use change.
Data from rangeland studies in both Oregon and New Mexico supports grazing as a strategy to promote ecological resiliency. Grazing can be used to manage and promote perennial grasses. In a study focusing on The Great Basin area, researchers found that the fuel moisture of un-grazed rangeland was 21% whereas the same fuel moisture of properly grazed rangeland was over double that at 46%.
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