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Analysis of Factors Related to Per Acre Prices of Bare Land: North Carolina 1975-1976

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  • Vollink, William J.

Abstract

Per acre land prices are observed to vary from one sale to the next. Reynolds and Timmons found that differences in land prices could be partially explained by net farm income, government farm programs, technological advance, farm enlargement, pressure from an increasing population, and capital gains. Other studies identified tobacco and peanut allotments and spatial shifts of industrial and urban development as major factors affecting differences in land prices. An additional factor which has not been addressed fully in the literature is the relationship between the lending agency which finances the land sale and the per acre sale price of the land. Identification of the magnitude of the relationship between the foregoing and other factors and bare land prices may provide useful information to policymakers and land appraisers. For example, policymakers could determine the impact on per acre land prices of altering the size of per acre flue-cured tobacco allotments. Appraisers could adjust the price of a recently observed land sale to reflect an expected market value for characteristics of the property being appraised.

Suggested Citation

  • Vollink, William J., 1978. "Analysis of Factors Related to Per Acre Prices of Bare Land: North Carolina 1975-1976," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 10(2), pages 143-150, December.
    • Handle: RePEc:cup:jagaec:v:10:y:1978:i:02:p:143-150_01
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    Cited by:

    1. Pavel Ciaian & Edoardo Baldoni & d'Artis Kancs & DuĊĦan Drabik, 2021. "The Capitalization of Agricultural Subsidies into Land Prices," Annual Review of Resource Economics, Annual Reviews, vol. 13(1), pages 17-38, October.
    2. Feichtinger, Paul & Salhofer, Klaus, 2013. "What Do We Know about the Influence of Agricultural Support on Agricultural Land Prices?," German Journal of Agricultural Economics, Humboldt-Universitaet zu Berlin, Department for Agricultural Economics, vol. 62(02), pages 1-15, May.
    3. Janssen, Larry L. & Haque, Mohammed Z., 1987. "Determining factors in South Dakota Farmland Market Prices 1976-1984," Bulletin 232119, South Dakota State University, Agricultural Experiment Station.
    4. Sandrey, Ronald A. & Arthur, Louise M. & Oliveira, Ronald A. & Wilson, W. Robert, 1982. "Determinants Of Oregon Farmland Values: A Pooled Cross-Sectional, Time Series Analysis," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 7(2), pages 1-10, December.
    5. Henning, Steven A. & Vandeveer, Lonnie R. & Kennedy, Gary A. & Green, Shane, 1996. "Louisiana Rural Land Values And Tenure Arrangements," AEA Information Series 31676, Louisiana State University, Department of Agricultural Economics and Agribusiness.
    6. Feichtinger, Paul & Salhofer, Klaus, 2013. "What Do We Know about the Influence of Agricultural Support on Agricultural Land Prices?," Journal of International Agricultural Trade and Development, Journal of International Agricultural Trade and Development, vol. 62(2).
    7. Kennedy, Gary A. & Henning, Steven A. & Vandeveer, Lonnie R., 1995. "Rural Land Values And Tenure Arrangements In Louisiana," DAE Research Reports 31662, Louisiana State University, Department of Agricultural Economics and Agribusiness.

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