Iowa Appraisal

Iowa Land Auction Prices, March 3-9, 2017

Posted on March 14, 2017 at 8:30 AM by Jim Rothermich

Greetings!  Fewer acres of land were offered at auction this week compared to last week’s results.  1,326 acres were auctioned, of which 1,158 were tillable.  All farms were sold and there were no “no sales.”  I would describe the land market as very stable.  Here are the highlights:

  • 185 acres sold in Hardin County- $6,946/acre- 127 tillable acres- CSR2- 77.0 (Includes improvements)
  • 96 acres sold in Winneshiek County- $10,469/acre- 88 tillable acres- CSR2- 74.0 (Includes improvements)
  • 70 acres sold in Fayette County- $12,100/acre- all tillable- CSR2- 89.0
  • 104 acres sold in Webster County- $9,950/acre- 102 tillable acres- CSR2- 86.0
  • 188 acres sold in Carroll County- $8,950/acre- 186 tillable acres- CSR2- 66.0 (Includes wind turbine)
  • 115 acres sold in Fayette County- $4,478/acre- 70 tillable acres- CSR2- 57.0
  • 56 acres sold in Adams County- $7,500/acre- 53 tillable acres- CSR2-86.0
  • 144 acres sold in Marion County- offered in two tracts:
    • 43 acres- $7,900/acre- 37 tillable acres- CSR2- 66.0
    • 101 acres- $6,600/acre- 85 tillable acres- CSR2- 78.0
  • 61 acres sold in Jefferson County- $9,950/acre- all tillable- CSR2- 83.0
  • 70 acres sold in Wapello County- $2,500/acre- 50 tillable acres- CSR2- 30.0 (CRP)
  • 172 acres sold in Sioux County- offered in two tracts:
    • 76 acres- $13,750/acre- 70 tillable acres- CSR2- 90.0 (Includes cell tower)
    • 96 acres- $13,800/acre- 95 tillable acres- CSR2- 90.0
  • 65 acres sold in Butler County- $8,325/acre- CSR2- 77.0

As you can see, the land market is very stable, if not, getting some strength.  There is a lot of negative press that gives a doom and gloom scenery for agriculture in 2017.  I report the facts and visit with a lot of realtors across Iowa.  Currently, there is a lot of optimism in the land market.  Just as the stock market is up, I would say the land market has also gone up for good quality farmland.  It has been a long time since we have had a true “no sale” in Iowa.  Land auctions are bringing top dollar in this environment since there is a low supply for sale.

“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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