Iowa Appraisal and Research Corp

Iowa Land Auction Prices, February 10-16, 2017

Posted on 02/20/2017 at 09:45 AM by Jim Rothermich

Greetings!  Fewer acres of land were offered at auction this week compared to last week’s results.  1,019 acres were auctioned, of which 917 were tillable.  All farms were sold and there were no “no sales.”  I would describe the land market as very good.  Here are the highlights:

  • 111 acres sold in Pottawattamie County- $7,800/acre- 103 tillable acres- CSR2- 76.0
  • 112 acres sold in Clay County- $4,700/acre- 66 tillable acres- CSR2- 79.0
  • 155 acres sold in Buchanan County- offered in two tracts:
    • 76 acres- $11,600/acre- 77 tillable acres- CSR2- 85.0
    • 79 acres- $9,600/acre- 78 tillable acres- CSR2- 87.0
  • 145 acres sold in Madison County- offered in two tracts:
    • 107 acres- $8,950/acre- 99 tillable acres- CSR2- 72.0
    • 38 acres- $8,900/acre- 35 tillable acres- CSR2- 80.0
  • 139 acres sold in Cerro Gordo County- offered in two tracts:
    • 59 acres- $7,300/acre- 57 tillable acres- CSR2- 83.0
    • 80 acres- $7,025/acre- 78 tillable acres- CSR2- 75.0
  • 205 acres sold in Howard County- offered in two tracts:
    • 125 acres- $6,700/acre- 119 tillable acres- CSR2- 79.8
    • 80 acres- $7,300/acre- 79 tillable acres- CSR2- 68.9
  • 152 acres sold in Fremont County- $6,000/acre- 126 tillable acres- CSR2- 82.0 (Nishnabotna River Bottom)

As I called around getting auction results this week, this message was consistent: “Optimism is very high for 2017.”  If you have been reading press releases lately, there are legitimate concerns about Mexico buying corn from other countries and China not buying U.S. soybeans.  No doubt, losing these two customers will have a negative impact on land prices.  I get it.  But the fact of the matter is, this concern is currently not showing up in the land market.  Demand is still very strong and there is a very low supply of land for sale.  Low supply and high optimism for 2017 is equating to a very good land 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”

@TheLandTalker
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