Iowa Land Auction Prices, January 6-12, 2017
Posted on 01/16/2017 at 08:00 AM by Jim Rothermich
Greetings! This past week was pretty slow for land auctions in Iowa. There was one auction this week with a total of 232 acres offered at auction. Of those acres, 176 acres were tillable. There was not enough land sold to really test the market. Here are the highlights:
- 232 acres in Webster County: 176 tillable acres- CSR2- 73- none sold during the auction, but was successfully negotiated afterwards. The last bid during the auction was $4,850/acre. The realtor estimated the 2017 cash rent was between $240-$250/acre.
Auction activity picks up a little more next week with seven auctions throughout the state. There are limited farms for sale currently in Iowa. I continue to hear from realtors that they have buyers ready to buy land, but have little to pick from due to low supply for sale. I recently visited with one realtor who listed two farms for sale and sold within 48 hours. Both farms sold higher than the listing price. Low supply of farms for sale is definitely working in the seller’s favor. I do believe we are in a seller’s market.
“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”
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