Iowa Appraisal

Iowa Land Auction Prices, May 17-23, 2019

Posted on May 28, 2019 at 10:22 AM by Jim Rothermich

There were no land auctions this week, but auction activity will resume in June. Below are results of a recent cash rent auction. This was an online-only auction that closed on May 3, 2019. The farm consisted of 1,009 acres in Monroe County near the city of Lovilia. The farm was offered in 6 tracts: one-year term lease agreement; hunting rights reserved; each tract was charged with a buyer premium of 10% with a $1,000 max per tract; and fertility was said to be good as the land was adjacent to a large dairy. Per the realtor, there were 47 bidders from five states with two winning bidders - one local, one 85 miles away – and the results far exceeded the owner and realtor’s expectations. Prices include buyer premium. The totals at the bottom of the table are weighted averages.

“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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