You know about home prices and rents soaring across the Puget Sound region and Washington — but you might be surprised at the latest type of property to get swept up in the state’s real-estate wave: farms. The average sale price of high-quality Washington farmland has increased 25 percent in the last year, and is up 47 percent in the last four years, according to new data from Farmers National Company. The current average price of $12,500 per acre is the highest among 18 states tracked in the report, mostly in a central swath from Minnesota to Texas, up from fourth-highest a year ago. Washington was the only state surveyed to see prices rise in the past year. City folk might not think much about farmland, but it’s a big deal across Washington. The state has 14.7 million acres of farms — the size of about 270 Seattles. And costs for farmers can factor into how much you pay for that Honeycrisp apple at the grocery store, the summer squash at the farmers market or a local cabernet at the tasting room.
from Jason Fleming - Washington Homes http://ift.tt/2a6IAOA