Factors affecting Utah ranch prices.

Abstract

A total of 341 Utah rural land sales occurring between 1980 and 1987 were analyzed to identify and quantify the determinants of Utah rangeland and ranch prices. Two factors statistically influenced average sale price ($/hectare and/or $/AUM): number of hectares sold and whether buildings were included in the sale. Regression analysis incorporated statistically significant (P < 0.05) explanatory variables into a predictive equation that expressed total ranch sale price as a function of number of deeded AUMs, building value, year and month of sale, number of leased AUMs, distance to nearest town, recreation influence, and size of parcel sold. The regression model produced an adjusted R(2) = 0.91. Value of buildings and number of deeded AUMs explained most of the variability in total ranch sale price.