Markets, water availability prove key in land values
Despite market unknowns created by the pandemic and lower commodity prices, California agricultural land values remained largely stable, an indication buyers have confidence in the long-term land market in the state: This was a key takeaway from a virtual business conference held by the California Chapter of the American Society of Farm Managers and Rural Appraisers. The conference also discussed impacts of the Sustainable Groundwater Management Act on California land values. Even though record supplies of the state’s highest-value crops led to lower prices for farmers last year, appraisers said the softer prices also helped move those products.