Farmland prices near $12,000 as Ohio auction draws strong bids

CELINA, Ohio, Feb. 1, 2018 /PRNewswire/ -- Bidders turned out in force Monday, Jan. 29, to compete for approximately 604 acres of farmland in Ohio's Mercer County, resulting in some land selling for up to $11,883 per acre. Schrader Real Estate and Auction Company conducted the auction.

In all, the land sold for a total of $6,341,000. The auction attracted a capacity crowd including more than 70 registered bidders, according to Jerry Ehle, who managed the auction.

"We literally had people shoulder to shoulder and spilling out into the hallway.  Most of the bidders were farmers, and 10 different bidders bought land," said Ehle.  

Most of the tracts sold for more than $10,000 per acre, with three tracts -- totaling approximately 151 acres -- selling for $11,000.

"There haven't been many recent auctions of comparable acreage in the area, so this provided an early opportunity to see where the market is. Eleven out of the 14 tracts sold for more than $10,000 per acre. This has to be encouraging for those with farmland to sell," said R.D. Schrader, president of the auction company.  

Individuals seeking information about selling land, or about upcoming offerings, may visit www.schraderauction.com or call 800-451-2709.

Schrader Real Estate and Auction Company, based in Columbia City, Indiana, is a leading auctioneer of farmland, real estate and equipment throughout the United States and is a five-time USA Today/National Auctioneers Association Auction of the Year winner.

For more information:
Carl Carter, 205-823-3273

SOURCE Schrader Real Estate and Auction Company

Related Links

http://www.schraderauction.com