Iowa Land Auction Prices, December 2-8, 2016

Greetings!   There were a total of 2,669 acres offered at auction, of those acres, there were 2,510 tillable acres.  I would describe the auction results as “good.”  There was one “no sale” last week.   A few of the highlights from last week:

• 80 acres sold in Kossuth County- $8,000/acre- 79 tillable acres- CSR2- 75.0

• 150 acres sold in Kossuth County- $8,400/acre- 145 tillable acres- CSR2- 83.0

• 166 acres sold in Kossuth County- $8,150/acre- 166 tillable acres- CSR2- 80.0

• 193 acres “no sale” Montgomery County

• 191 acres sold in Guthrie County in two tracts.

  • Tract 1- 38 acres- $11,900/acre- 38 tillable acres- CSR2- 90.0

  • Tract 2- 153 acres- $11,600/acre-149 tillable acres- CSR2- 90.0

• 155 acres sold in Howard County in two tracts.

  • Tract 1- 76 acres- $9,767/acre- 75 tillable acres- CSR2- 80.0 (includes 2% buyer’s premium).

  • Tract 2- 80 acres- $9,767/acre- 80 tillable acres- CSR2- 77.0 (includes 2% buyer’s premium).

• 861 acres sold in Sioux County in two tracts.

  • Tract 1- 640 acres- $12,200/acre- 602 tillable acres- CSR2 90.0

  • Tract 2- 222 acres- $10,600/acre- 189 tillable acres- CSR2- 92.1

• 160 acres sold in Jasper County- $11,050/acre- 156 tillable acres- CSR2- 93.0

• 138 acres sold in Dickinson County- $8,450/acre- 130 tillable acres- CSR2- 88.0

• 80 acres sold in Jasper County- $10,200/acre- 75 tillable acres- CSR2 85.0

• 249 acres sold in Cerro Gordo County in two tracts.

  • Tract 1- 154 acres- $6,950/acre- 145 tillable acres- CSR2- 71.0

  • Tract 2- 95 acres- $5,800/acre- 93 tillable acres- CSR2- 56.0

• 140 acres sold in Howard County- $7,000/acre- 137 tillable acres- CSR2- 81.0 (this tract has a wind lease option that pays $211 quarterly).

• 104 acres sold in Keokuk County- $5,500/acre- 95 tillable acres- CSR2- 66.0 (this tract was rented for the 2017 crop year @ $174/acre.  77 acres will go into CRP wetland program in October 2017 @ $300/acre).

Just a couple of observations from the sales last week.  The farm with a wind lease option was discounted 10-15+/-%.  The farm going in the CRP wetland program was enhanced 10%+/-. 

The realtors I visit with continue to say auction prices are holding up very well and exceeding expectations.   

“That’s my story and I’m sticking to it!”  Please check back next week to see what the Iowa land market is doing.

Jim “the Land Talker”

@TheLandTalker
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