There are a variety of reasons that people sell their land for cash. Some have bought a property with the intention of developing it, but their plans changed or the land was too far away from where they live to enjoy. Others inherit a property and would rather not have the responsibility of paying for taxes, insurance or maintenance. Whatever the reason, selling for cash offers a fast and easy way to get rid of your land.
The average sales price per acre was $10,200 in 2022, up 14% from 2020. The highest sales prices paid in the state were in Carver County ($10,200), Scott County ($9,300) and Anoka County ($8,800).
Farmland values are influenced by commodity markets, yields and long-term interest rates. Commodity prices were higher throughout 2021, and yields are expected to remain high through at least 2023. However, a disruption in the grain or livestock market could impact values significantly.
Minnesota DNR’s 5.6 million acres of public land are managed for conservation, recreation and economic opportunities. Strategically managing the state’s land asset portfolio is one of the ways the DNR fulfills its statutory responsibilities and contributes to the state’s exceptional quality of life. Public auction sales are a part of this work.
Auction sales are conducted on an online system called MinnBid. Anyone interested in bidding is encouraged to visit the DNR’s Minnesota land sales for cash webpage opens in new tab to view a list of properties, property data sheets and details on how to register for an account and participate in the sale through MinnBid.
Generally, parcels of tax forfeited lands are offered for sale in the spring. Occasionally, some parcels are sold earlier or later in the year. The DNR reviews the statutory and program requirements before offering properties for sale. The DNR also evaluates the state’s land asset portfolio to ensure it is meeting its responsibilities and contributing to the state’s exceptional quality of life.