Iowa Appraisal and Research Corp

Iowa Land Auction Prices, January 13-19, 2017

Posted on 01/23/2017 at 11:00 AM by Jim Rothermich

Greetings!  Land auctions in Iowa have picked up compared to last week’s results.  There were a total of 1,699 acres offered at auction, of those acres, there were 1,384 tillable.  Here are the highlights:

  • 134 acres sold in Monona County- $6,000/acre- 133 tillable acres- CSR2-73.0 (Missouri River Bottom)
  • 40 acres sold in Calhoun County- $10,500/acre- 38 tillable acres- CSR2-85.0
  • 40 acres sold in Osceola County- $11,200/acre- 39 tillable acres- CSR2- 90.0
  • 519 acres sold in Louisa County in nine tracts:
    • Tracts 1 & 2 sold together- 161 acres- $6,000/acre- 161 tillable acres- CSR2- 48.0
    • Tract 3- 43 acres- $7,100/acre- 39 tillable acres- CSR2- 48.0
    • Tracts 4 & 5 sold together- 120 acres- $5,400/acre- 118 tillable acres- CSR2- 45.0
    • Tract 6- lump sum- $109,000
    • Tract 7-131 acres- $900/acre- Wet Land Reserve
    • Tract 8- 51 acres-$675/acre- Wet Land Reserve
    • Tract 9- lump sum- $42,500.
  • 244 acres sold in Mills County in three tracts:
    • Tract 1- 56 acres- $7,800/acre- 53 tillable acres- CSR2- 87.0
    • Tract 2- 80 acres- $6,800/acre- 78 tillable acres- CSR2- 79.0
    • Tract 3- 108 acres- $4,700/acre- 65 tillable acres- CSR2- 88.0 (Indian Creek Bottom)
  • 98 acres sold in Lyon County- $12,400/acre- 94 tillable acres- CSR2- 69.0
  • 212 acres sold in Clay County- $7,300/acre- 212 tillable acres- CSR2-80.0
  • 186 acres sold in Kossuth County in two tracts:
    • Tract 1- 180 acres- $7,600/acre- 172 tillable acres- CSR2- 85
    • Tract 2- 5.3 acres- lump sum $300,000
  • 301 acres sold in Pottawattamie County- $5,700/acre- 264 tillable acres- CSR2- 66.0
  • 242 acres sold in Ringgold County in two tracts:
    • Tract 1- 156 acres- $3,875/acre- 132 tillable acres- CSR2- 55.0 (partial Grand River Bottom)
    • Tract 2- 86 acres- $2,100/acre- pasture/wooded tract, recreational buyer

As I called realtors around the state of Iowa getting their auction results, the consensus is the land market is stable and most realtors said the prices exceeded their expectations.  All the realtors commented on how low the inventory of farms for sale were.  I continue to hear how investor buyers were either the winning or runner up bidders.  One investor I spoke with said his interest rate to borrow money had increased 1% since the election; and is starting to influence his buying decisions.  Interest rates will be a concern going into 2017.

“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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