Do you own land in Iowa but not sure how much it’s worth?
Are you interested in selling farmland in Iowa, but would like to know what land in your county typically brings?
Are you wondering if land prices are increasing or decreasing Iowa?
Check out the results from the 2020 Iowa Farmland Value Survey for Iowa State University!
In conclusion, this survey shows the 2020 state average for land in Iowa is estimated at $7,559/acre as of November 1, 2020. Professionals in the land real estate industry who submitted responses to the survey commented that low interest rates, high commodity prices, limited land supply and high demand to buy were all driving forces of the 1.7% increase in farmland prices from November 1, 2019 to November 1, 2020. This results in a $127 per acre increase as well.
Who is selling land in Iowa?
The majority of farmland I help sell comes from estate sellers which follows the results from the survey. 51% of farmland sales came from estate sales. Followed by 23% sold by retired farmers, 16% sold from active farmers and investors accounted for 9%.
Who is buying land in Iowa?
The majority of farmland buyers I see are existing farmers which follows the survey results too. This survey shows 72% of farmland sales were to existing farmers. Investors bought 22% of land sales in Iowa with new farmers representing 4% of farmland sales. The remanding 2% sold to other purchasers.
What county in Iowa has the highest farmland value?
According to the survey, Scott County, IA takes the lead for having the highest estimated farmland value of $10,659/acre. Followed by O’Brien County, IA at $10,656/acre and third, Sioux County, IA at $10,549/acre.
Are Iowa Farmland Prices Increasing in 2021?
Currently, we are 4 months in to 2021. While I cannot predict the future, from what we have seen in the real estate industry so far, I expect when this survey comes out in November this year it will show an increase in prices again.
If interest rates continue to stay low and commodity prices remain high, more farmers will be interested in purchasing farmland. If you’ve inherited land or looking to retire, now is a great time to sell farmland in Iowa! Click here to get started!
Therefore, don’t wait till harvest is over! You can still sell land with crop in the ground. Reach out for a free market analysis consultation today!