One of the most undervalued Missouri commodities may be its timberland. At least the perception of value by lenders, appraisers and extension workers would indicate it may be. Each June, Ron Plain, ag economist at the University of Missouri takes the pulse of the farmland values around the state by asking 1,000 real estate professionals what they think is happening to land prices. In 1996, the average timberland estimated value for the state was $370 per acre. By June of 1977, that figure had jumped to $419 per acre. That's a 13 percent increase.
Prime cropland in 1996 was averaging $1,113 an acre. This class of land jumped to $1,240 in 1997 for an 11 percent increase.
As would be expected, highest timberland values are in those counties surrounding St. Louis ($608 per acre) and lowest prices are in the southeastern Ozarks ($265 per acre).
It must be remembered that these figures are estimates and averages. It is rare that a tract of land is sold for the timber value and is marketed as such with timber appraisals included. When that type of sale is made, however, the per- acre price often is in the thousands of dollars, not hundreds.
