Land Trends & Values - Iowa Chapter of REALTORS® Land Institute - March 1, 2017
Posted on March 23, 2017 at 2:30 PM by Jim Rothermich
Iowa Farmland Values Stop Descent.
The three-year downward slide in Iowa farmland values appears to have stopped, at least temporarily, according to the recently released Iowa Chapter of REALTORS® Land Institute land value survey on March 22, 2017.
The twice-yearly survey of farm real estate professionals finds Iowa farmland values edged slightly higher in the six-month period ending March 1. The survey, conducted by the Iowa Chapter of REALTORS® Land Institute (RLI), found on average, tillable crop rose 0.9% from September 2016 to March 2017. Combining this increase with the 3.7% decrease reported in September 2016 indicates a statewide average decrease of 2.8% for the year from March 1, 2016 to March 1, 2017
The nine Iowa crop reporting districts showed a mix of increases and decreases in value. The districts varied from a 3.2% increase in the northwest district to a 3.0% decrease in the southwest district since September 2016.
Factors contributing to current farmland values include: good yields in 2016, limited amount of land on the market, strong demand for corn & soybeans, lack of alternative investment, cash on hand, and low interest rates.
To read more, click the following links:
“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”
Monthly Iowa land auction results email: Click here to subscribe.