During the past three years, New York woodland owners have seen the following general price trends for timber:
- Prices for most species dipped in 2019, then rose rapidly from early 2021 through mid-2022.
- Approaching late 2022, prices for most species began to soften. And, that trend continues.
- While white oak demand and pricing had been “lower-middle of the pack” relative to other species for much of the past six years, white oak is now one of the highest valued species, although its abundance varies widely across the region.
- Demand and pricing for cherry has continued to weaken – especially when compared to its historic peaks.
The following three charts illustrate historical price trends for western New York timber stumpage, using data sourced from the New York Department of Environmental Conservation (DEC) semiannual Stumpage Price Report. We encourage you to keep the following in mind as you enjoy the information in the charts below: The DEC timber pricing information is from less than 20 buyers and sellers who voluntarily submit their information. Thus, it reflects the price received by a small sample of market participants. The pricing information is published semiannually, generally 45 days after period-end, is thus rearward-looking. Lastly, the per-species stumpage prices all stem from multi-county averages for their respective region of the state. For all these reasons, the value of your timber may differ widely from these multi-county averages. Pricing for your specific property’s timber is subject to ever-changing, highly-localized markets. For local, customized expertise regarding your unique property, we encourage you to work with one of our seasoned foresters. We can help.
Timber Markets Update- Western New York July 2023 -Select Hardwood Species
Timber Markets Update- Western New York July 2023 -Ash and Yellow Poplar
Timber Markets Update- Western New York July 2023 – Softwood Species