SW MN farmland values increased 14.7 percent in 2023; Redwood County had highest increase in crop equivalency rate

The University of Minnesota Extension Service has finished its annual survey of farmland sales in 14 southwestern Minnesota counties. The highest average Crop Equivalency Rating (CER) for the 14 counties was Redwood County, at $103.06 and the lowest in  Lincoln County at $68.65 per CER.

This  year the increase across the 14 counties averaged 14.7 percent after a 27.9 percent increase in  2022.  Farmland prices decreased in  one county, Lac qui Parle, but increased in thirteen counties from 2022 to 2023. The largest increase was in Murray County with an  increase of 37.1 percent. 

The summary report for this survey is available at the county  extension offices in Chippewa, Cottonwood, Jackson, Lac qui Parle, Lincoln, Lyon, Martin,  Murray, Nobles, Pipestone, Redwood, Rock, Watonwan, and Yellow Medicine counties.