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Twin Falls, Idaho ( KMVT-TV / KTWT-TV ) The price of farm land and farm real estate began increasing in 2011 but it increased even more in 2012.
"Back in 2011 when the market was down, things started picking up a little bit and was has happened since now is commodity prices have actually increased which actually increases the farm prices," said Mark Jones with Robert Jones Realty.
The cost for farm real estate has risen twenty to twenty five percent over the past two years. But what does the future hold?
"The only thing that I can do is predict what happened in the history. In 2007 the market was on another top of the bubble we would say and that time the commodity prices dropped out and in 2008 we hit, we started going down from farm prices from that point. At this point with our commodity prices still looking fairly good in 2013, we see the prices staying fairly strong for the good quality farm ground," said Mark Jones.
But if commodity prices drop, then the potential is there for farm ground prices to decrease. If you are looking to buy farm real estate, you should contact an agent and get on their list.
"The ground that we have. We are low on inventory and they get sold very quickly if they are priced correctly,” said Mark Jones.
Jones also told us that now is a great time to sell farm ground.