Iowa Appraisal

Iowa Land Auction Prices, February 17-23, 2017

Posted on February 27, 2017 at 3:00 PM by Jim Rothermich

Greetings!  More acres of land were offered at auction this week compared to last week’s results.  1,839 acres were auctioned, of which 1,129 were tillable.  All farms were sold and there were no “no sales.”  I would describe the land market as very good. There were a couple of pasture tracts that sold and were considered “good.” Here are the highlights:

  • 229 acres sold in Marshall County- $9,082/acre- 227 tillable acres- CSR2- 74.0
  • 172 acres sold in Keokuk County- offered in two tracts:
    • 77 acres- $7,50/acre- 74 tillable acres- CSR2- 64.0
    • 95 acres- $3,500/acre- 54 tillable acres- CSR2- 51.0
  • 240 acres sold in Decatur County- offered in two tracts:
    • 120 acres- $2,700/acre- pasture
    • 120 acres- $2,500/acre- wooded pasture
  • 491 acres sold in Howard County- offered in four tracts:
    • 160 acres- $6,925/acre- 152 tillable acres- CSR2- 79.0
    • 60 acres- $5,125/acre- 34 tillable acres- CSR2- 80.0 (tract was improved)
    • 196 acres- $4,525/acre- 105 tillable acres- CSR2- 77.0 (tract was improved)
    • 75 acres- $6,300/acre-75 tillable acres- CSR2- 69.0 (tract had no legal access)
  • 159 acres sold in Lyon County- $9,400/acre- CSR2- 76.0
  • 105 acres sold in Pottawattamie County- $6,900/acre- CSR2- 74.0
  • 78 acres sold in Muscatine County- $6,500/acre- CSR2- 97.0

Optimism is still high in rural Iowa.  Weather has been warm and tractors have started field work in southern Iowa.  The USDA has forecasted corn planting intentions to be down 4 million acres from last year.   Farmers love to plant corn and with an early spring, more acres of corn could be expected than what the USDA is predicting. 

Does a farm have to have legal access?  One of the sales last week was of a farm that did not have legal access.  While the winning bidder was an adjoining landowner, the runner up bidder was not and would have had to pay additional legal fees and expenses to get legal access.

“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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