Iowa Appraisal and Research Corp

Iowa Land Auction Prices, September 8-14, 2017

Posted on 09/18/2017 at 02:04 PM by Jim Rothermich

Greetings!  More acres of land were auctioned this week as compared to last. 3,036 acres of land were offered, of which 2,359 acres were tillable.  There was one realtor that felt their sale was a little “light.”  The farm was in a drought area.  All farms sold last week.  Other than one, all auctions either met expectations or exceeded expectations.  So far, low commodity prices or drought has had very little effect on the land market.  Here are the highlights:

  • 417 acres sold in Jefferson County- offered in 6 tracts- purchased as 5 units:
    • 139 acres- $5,400/acre- 124 tillable acres- CSR2- 71
    • 120 acres- $6,200/acre- 109 tillable acres- CSR2- 74
    • 59 acres- $4,600/acre- 47 tillable acres- CSR2- 65
    • 20 acres- $3,350/acre- 15 tillable acres- CSR2- 63
    • 79 acres- $4,150/acre- 64 tillable acres- CSR2- 58
  • 119 acres “no sale” in Story County- 117 tillable acres- CSR2- 84
  • 106 acres sold in Marion County- $7,600/acre- 92 tillable acres- CSR2- 82 (Des Moines River Bottom)
  • 135 acres sold in Sioux County- offered in two tracts:
    • 70 acres- $13,200/acre- all tillable- CSR2- 94
    • 65 acres- $13,150/acre- 60 tillable acres- CSR2- 94
  • 173 acres sold in Winneshiek County- $7,168/acre- 148 tillable acres- CSR2- 72
  • 172 acres sold in Pottawattamie County- offered in two tracts:
    • 129 acres- $5,200/acre- 121 tillable acres- CSR2- 70
    • 43 acres- $6,100/acre- 24 tillable acres- CSR2- 61
  • 80 acres sold in Floyd County- $9,400/acre- 78 tillable acres- CSR2- 92
  • 159 acres sold in Clay County- $4,100/acre- 69 tillable acres- CSR2- 78 (mostly pasture)
  • 217 acres sold in Sac County- offered in two tracts:
    • 70 acres- $8,300/acre- all tillable- CSR2- 87
    • 147 acres- $6,250/acre- 132 tillable acres- CSR2- 87
  • 237 acres sold in O’Brien County- offered in three tracts:     
    • 80 acres- $11,100/acre- all tillable- CSR2- 97
    • 78 acres- $11,100/acre- all tillable- CSR2- 97
    • 79 acres- $12,000/acre- all tillable- CSR2- 97
  • 160 acres sold in Butler County- $8,750/acre- 153 tillable acres- CSR2- 84
  • 31 acres sold in Jefferson County- $3,600/acre- 28 tillable acres- CSR2- 61
  • 132 acres sold in Lee County- offered in two tracts:
    • 80 acres- $9,700/acre- 71 tillable acres- CSR2- 61
    • 52 acres- $7,700/acre- all tillable- CSR2- 60
  • 149 acres sold in Webster/Calhoun County- offered in three tracts:
    • 88 acres- $8,700/acre- all tillable- CSR2- 84
    • 26 acres- $8,500/acre- all tillable- CSR2- 82
    • 35 acres- $6,300/acre- 33 tillable acres- CSR2- 77
  • 115 acres sold in Madison County- offered in two tracts:
    • 35 acres- $4,100/acre- 20 tillable acres- CSR2- 79
    • 80 acres- $3,400/acre- 53 tillable acres- CSR2- 47
  • 267 acres sold in Greene County- offered in four tracts:
    • 147 acres- $10,000/acre- 143 tillable acres- CSR2- 87
    • 40 acres- $10,750/acre- 39 tillable acres- CSR2- 87
    • 40 acres- $10,600/acre- 38 tillable acres- CSR2- 85
    • 40 acres- $12,100/acre- 38 tillable acres- CSR2- 88
  • 207 acres sold in Cedar County- offered in two tracts- purchased as a unit- $7,400/acre- 151 tillable acres- CSR2- 73
  • 160 acres sold in Poweshiek County- $4,450/acre - 144 tillable acres- CSR2- 70

Harvest is beginning in certain areas of Iowa.  Yield data will start coming in.  I am expecting yields to be variable.  The way to describe rainfall in Iowa this growing season is “the haves” and “the have nots.”

“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”

@theLandTalker
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