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The Impacts of Non-local Buyers on Farmland Market in Alabama

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  • Lin, Yingyun
  • Taylor, Mykel
  • Won, Sunjae

Abstract

Previous studies show that non-local buyers typically pay a price premium for farmland but most adopt a simple dummy variable to measure buyers’ non-locality, which neglects the heterogeneity among non-local buyers. Utilizing a parcel-level farmland transaction dataset, we construct a distance-based variable to measure buyers’ non-locality, using multiple regression to investigate their impacts on farmland market. Our results indicate that an additional 1% buyer-toparcel distance can lead to farmland price increase by 4.3%, suggesting that buyers located farther away typically pay more for land. It is probably because they face greater asymmetric information and possess more limited local market knowledge.

Suggested Citation

  • Lin, Yingyun & Taylor, Mykel & Won, Sunjae, 2026. "The Impacts of Non-local Buyers on Farmland Market in Alabama," Journal of the ASFMRA, American Society of Farm Managers and Rural Appraisers, vol. 2026, June.
    • Handle: RePEc:ags:jasfmr:410271
    DOI: 10.22004/ag.econ.410271
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