Iowa Appraisal

Iowa Land Auction Prices, March 31-April 6, 2017

Posted on April 10, 2017 at 12:30 PM by Jim Rothermich

Greetings!  Fewer acres of land were offered at auction this week compared to last week’s results.  1,168 acres were auctioned, of which 995 were tillable.  All farms sold.  I would describe the land market as very stable.  Here are the highlights:

  • 192 acres sold in Scott/Muscatine County- offered in 3 tracts:
    • 78 acres- $9,600/acre- 73 tillable acres- CSR2- 80.0
    • 13 acres- $8,800/acre- 12 tillable acres- CSR2- 80.0
    • 101 acres- $4,800/acre- 77 tillable acres- CSR2- 46.0
  • 224 acres sold in Keokuk County- offered in two tracts:
    • 100 acres- $4,900/acre- 92 tillable acres- CSR2- 59.0 (all CRP)
    • 124 acres- $3,900/acre- 109 tillable acres- CSR2- 59.0 (all CRP)
  • 77 acres sold in Monona County- $5,175/acre- all tillable- CSR2- 57.0 (Missouri River Bottom)
  • 232 acres sold in Guthrie County- offered in two tracts:
    • 77 acres- $6,700/acre- 58 tillable acres- CSR2- 69.0
    • 155 acres-  $5,100/acre- 102 tillable acres- CSR2- 52.0
  • 110 acres sold in Floyd County- $3,700/acre- 66 tillable acres- CSR2- 68.0 (Shell Rock River Bottom)
  • 98 acres sold in Marshall County- $8,500/acre- all tillable- CSR2- 89.0
  • 155 acres sold in Linn County- $6,800/acre- 152 tillable acres- CSR2- 61.0
  • 80 acres sold in Lyon County- $7,600/acre- 79 tillable acres- CSR2- 53.0

As I call around getting auction results, land agents & brokers have said the amount of land for sale is low.  Now I am hearing that the current supply of land for sale is at its lowest in their career.  I am also hearing about how much investor interest there is in farmland.  The type of investors range from local investors who have historical ties to farmland and understand the ins and outs of land ownership, to nonlocal investors who are looking for their first purchase.  Most are buying because they want to own land.  The decrease in return from lower rents doesn’t seem to bother them - they just want to own land!

“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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