RECENT FARMLAND MARKET NEWS
In Iowa, there are currently 754 active farmland listings with and average listing price of farmland is $7,546/acre. This week there are two farmland auctions both in Southeast, Iowa. Here are the results from the auctions:
Wednesday April 21st, 2021: 194 acres in Van Buren County, Iowa
- City: Birmingham, IA
- Live and Online Public Auction Held at American Legion in Stockport, IA
- Tract 1 – 102 acres of Farmland
- Sold for $12,600/acre
- 98.3% tillable
- 81.2 CSR2
- $155.17/CSR2
- Tract 2 – 92 acres Mixed Used Land
- Sold for $5,600/acre
- 60.6% tillable
- 63.3 CSR2
- $88.47/CSR2
Wednesday April 21st, 2021: 59.88 acres in Wapello County, Iowa
- City: Ottumwa, IA
- On-site Auction
- Sold for $8,950/acre
- 91.9% tillable
- 73.3 CSR2
- $91.39/CSR2
Farmland Market Survey
The Realtors Land Institute and National Association of REALTORS Research Group released results of their Land Market Survey recently. The survey is done by land realtors from 2020 showing price and sales changes in land.
Results from the survey showed strongest sales and price increases in residential and recreational land:
- Residential land sales price rose average of 6.8%
- Recreational land sales price rose average of 3.6%
- Ranch land sales price rose average of 3.1%
Overall, 3% increase in land sales and land prices rose an average of 2%.
Read more of their article here
Thoughts from Iowa Land Auctioneer, Rachel
With planting season upon us in Iowa, farmers are staying busy in the fields. Good quality farmland is still in high demand and prices are holding strong. Typically, there are fewer auctions as summer months approach and crop is in the ground, but I’m curious what Summer of 2021 will show for the land market.
Can I sell my farmland during the crop season?
Yes, you can still sell farmland during the crop season. I can help you set terms and conditions for your land auction to accommodate selling during the crop season especially if you have a tenant on the farm. I’m already noticing a few land auctions pop up for June and July and we are adding some at DreamDirt! Now is a great time to sell if you’ve inherited land or have thought about selling for the last few years! Get a free quote on what your farm is worth by filling out my form and I will get back to you!