The Leitrim farmland market had a good run over the past two years, with the average price breaking through €5,000/ac. However, both supply and price dropped in 2020.
The number of farms that came on the market was 22, down from 52 in 2019.
The total area of land put up for sale was just 634ac, down from 1,541ac the year before.
Of the 22 farms put up for sale in 2020, 19 were under 40ac in size, the other two between 40ac and 99ac. Only two were residential.
Leitrim landowners did not go for public auction: only two of the 22 for sale went for auction.
One sold under the hammer, the other didn’t sell on the day. In all, 15 of the 22 properties offered on the market sold by year-end.
Average price last year was €4,391/ac, down from €5,479/ac. The range of prices for the 15 farms sold was from €3,402/ac to €8,065/ac.
The value of all land sold in the county in 2020 was €1.93m. Fewer parcels of quality land were put on sale in 2020 in the county and this is probably the reason why average price fell on levels of recent years.
Non-farmers including investors, companies and farmers with other businesses have been the most active buyers in Leitrim in recent years. That was again the case in 2020 with this category buying 44% of all holdings.
The one holding that sold at auction was at Gorteendarragh, Kinlough.
The 9.3ac sold for €75,000 or €8,064/ac. This was actually the top price made in the county in 2020. All of the other holdings which sold by private treaty made less per acre.
*Based on 15 transactions