Huge Auction Tests North Dakota Market
Mar 05, 2009
The March 3 sale of more than 16,000 acres in northwest Stutsman County, in south-central North Dakota, proved a huge test for the area's land market. And it appears the market passed the test. The sale of 16,626 acres amassed by Walter Holzworth drew more than 500 people to the Jamestown Civic Center, reports James MacPherson of the Associated Press. The land, sold in 39 parcels, brought more than $10 million, he reports. That's somewhere north of $600 an acre. The land was sold to settle Holzworth's estate, who died in November 2007.
Ken Dalsted, an attorney for the estate, told the Associated Press Holzworth died without a will, despite prompting from familiy, attorneys, bankers and accountants to write a will. Dalsted said the land was sold to about 15 different buyers. "It exceeded our appraised value, so it shows that the economy is alive and well in North Dakota, or at least here in Stutsman County," Dalsted told MacPherson.
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