Iowa Appraisal

Iowa Land Auction Prices, June 9-15, 2017

Posted on June 19, 2017 at 9:00 AM by Jim Rothermich

Greetings! More acres of land were offered at auction this week compared to last week’s results. 1,124 acres were auctioned, of which 1,025 acres were tillable. All farms sold. The market is very strong. Here are the highlights:

  • 156 acres sold in Carroll County- offered in two tracts:
    • 112 acres- $9,650/acre- all tillable- CSR2- 82.0
    • 44 acres- $11,200/acre- all tillable- CSR2- 85.0
  • 162 acres sold in Lee County- offered in two tracts:
    • 81 acres- $11,800/acre- 74 tillable acres- CSR2- 71.0
    • 81 acres- $11,200/acre- 73 tillable acres- CSR2- 71.0
  • 16 acres sold in Des Moines County- $11,630/acre- all tillable- CSR2- 90.0
  • 194 acres sold in Cherokee County- $11,000/acre- all tillable- CSR2- 92.0
  • 160 acres sold in Hancock County- $7,200/acre- 155 tillable acres- CSR2- 71.0 (includes wind turbine)
  • 40 acres sold in Sioux County- $13,000/acre- all tillable- CSR2- 88.0
  • 123 acres sold in Louisa County- offered in three tracts- purchased as a unit- $7,600/acre- 106 tillable acres- CSR2- 77.0 (Long Creek bottom)
  • 80 acres sold in O’Brien County- $9,150/acre- 73 tillable acres- CSR2- 93.0
  • 193 acres sold in Taylor County- offered in two tracts:
    • 117 acres- $6,025/acre- 114 tillable acres- CSR2- 66.0
    • 76 acres- $4,200/acre- 24 tillable acres- CSR2- 54.0 (mostly pasture)

Basic law of supply and demand. This past week auction results were very telling about the strong demand to buy farmland from farmers and investors, and having little supply available to purchase. Over half the farms sold over $9,000/acre this week, some over $11,000/acre. This land market is gaining strength due to such a lack of supply to sell. If you are thinking of selling in the short term, let the market work for you, and get your farm on the market with a good farm realtor who has the capability to auction land. This is a sellers’ 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”

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