Iowa Farmland Prices October 2017 Farmland Results
October was an extremely busy month at DreamDirt with land sales and land auction across Iowa and Nebraska as well as setting up a very large auction in Minnesota. Our team worked thought the entire month without much of a break and results for October were again strong and in some cases surprisingly strong.
Northwest Iowa again showed great results in O’Brien and Plymouth Counties with multiple sales over $10,000 and reaching up into the 13,000 and 15,000 range. Howard County Iowa produce a result over $10,000 this month as well. Central Iowa saw a multi-tract farmland auction that produced results between $9,100 and $11,400 per acref
It was a strong month for farmland prices but as we’ve noted before there still exists the possibility that the market finds additional supply through distressed farms in the future which will have a direct effect on supply of farmland. Right now its likely the number 1 thing propping up farm land prices is the lack of supply. Nobody has a crystal ball and nobody can say what will happy in the future but its a safe bet that we’ll see more and more farms for sale with lease back stipulations or just partial liquidation of land holdings.
If you are considering selling a farm you know where you stand right now, but you don’t know where you stand in 3-4-5 months so its probably best to get the farm to market sooner than later. Auctions have been producing excellent results, they cut hold times and uncertainty and give you a date guaranteed date of sale. You want to be able to control every variable possible and the only way to do that is with an auction.
Volume of farmland sold was again low in October, even lower than the previous month of September which continues to contribute to higher farmland prices. At this point its fairly easy to see auction calendars out to at least mid to late December and volume will increase but will continue to be much lower than the average of the previous 5 years. Sellers can expect some uncertainty in the market and probably a continuing patter similar to what we have been seeing with sales not always following the pattern. I know thats confusing but farmland prices can be somewhat difficult to predict at this point. There are multiple examples of multiple auctions in one area producing different results high and low. Each auction and auctioneer are different so there are certainly variables that can lead to those variations outside of market factors. We will be back with a November farmland prices report next month and we hope you’ll watch for that to see where the market is headed. We always enjoy the opportunity to report these results to you and look forward to hearing from you when you are ready to sell.
Selling Farms in Iowa
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If you are considering selling a farm in Iowa or surrounding states you really should start with a free market analysis to understand what your farm might sell for by auction or listing. Start with that and let us show you the best ways to expose your farm to the largest audience across the nation. We make selling farmland easy for you and you’ll be glad you did. We offer unique resources that are not available anywhere else and our techniques and methods have worked for many farm families as they divest from farmland ownership to transition. You can reach us online or by phone anytime. We are always available to discuss the sale of your farm.
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Check out current farmland prices from auctioneers and brokers all across Iowa as they happen at www.DollarsAndDirt.com
Iowa Farmland Prices
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* Contributing to this report Iowa Farmland Appraiser Jim Rothermich
DreamDirt is a licensed real estate brokerage and auction company in Iowa specializing in the sale of farmland, hunting land and land auctions. You can find our results at www.DreamDirt.com or contact Broker Auctioneer Jason Smith at 712-592-8965. To view our team of auctioneers and land brokers click STAFF above.
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