Farmland Recently Sold in Iowa- Price Per County
Iowa Farmland Prices June 17th – 24th
27 Tillable Farmland Auctions happened from June 17th – 24th in Iowa. Out of the 2,868.19 acres sold, Plymouth County was the highest-selling farm with 160 acres at $21,700/acre. Coming in second is 79 acres in Jones County selling at $20,200/acre, or $350/CSR2 point! The average dollars per acre in Iowa currently is $13,203.04 or $169.31/CSR2.
View the full results of each auction below in the table or watch Rachel’s video. If you’re considering selling farmland now is a good time to do so. Contact us today to get started with a free market evaluation of your farm.
Jason J Smith
Auctioneer & Land Broker
Jason is an experienced farmland broker and auctioneer with extensive experience in farmland sales across this Midwest. Jason has worked with hundreds of clients to create advantageous outcomes. If you are selling land schedule a consultation with Jason by calling or using the calendar.
Phone: 515-537-6633
Iowa Farmland Report
by Jason Smith, Auctioneer | Land Broker
USDA Acreage Report
The USDA Acreage Report is due out on Thursday of this week and we’ll bring you more on that next week, but it’s always a significant report. Until now, traders are guessing about the number of acres planted for each crop, and this report, while it will be modified in the future, helps them fine-tune their buying and selling strategies. Many of those traders are farmers too!
In Iowa this week, we’ve seen hot dry weather. I suppose not too shocking for late June. The new Drought Monitor will be out on Thursday as well. The drought designation in northwest Iowa has grown back to its start of year levels. I expect this week should show that intensifying further. As I write this article from Monona County the irrigation pivots are already making their endless circles in the Missouri River Valley. It’s not completely unheard of to have them running this early but I am positive it’s every farmer’s delight to wait until we’re making corn to run them if at all. I’m sure we’d all opt for natural rain to do the job. Despite the drought conditions, the crop looks very good right now, and hey, that whole knee-high by the 4th of July is out the window! The corn is shoulder height in most places in Iowa. We grow some good corn here!
Crops in the Midwest
Speaking of crop conditions I just returned from a trip to northern Minnesota. I saw corn, soybeans, alfalfa, oats, barley, wild rice, sugar beets, potatoes, green beans, dry beans, canola, and sweet corn! 10 hours up and 10 hours back, I had 20 hours of observing crops across the upper Midwest and there is a good crop out there. I didn’t observe any prevent plant acres along my route or standing water as you might expect to see in places this time of year. The northern reaches of my journey were wetter. Far northern Minnesota has a better crop than an average year there and more acres planted than usual by my observations.
While I expected North Dakota to be wetter from what I’ve seen in the news it wasn’t and the crops looked great. It was easy to see that South Dakota has experienced a significant wind storm which I know occurred on May 12th as the 2022 Derecho moved through. We experienced this same storm in Iowa but the effects are much more noticeable up north with Interstate signs and billboards mangled from the winds. Despite the physical damage there, the crop was just emerging and looks great now in late June. I had a client at the office yesterday that is from north of Sioux Falls that went through the storm and he said most of their crop had not come out of the ground by that time yet.
Will Farmland Values Continue to Rise?
As we move into July by my next writing here we will have hit mid-year. As we came out of 2021 we know the average price of an acre of farmland in Iowa was $9,751 according to the Iowa State University study. We have continued to see farmland prices appreciate over the first half of the year and using some of our data on farmland sales it appears that today’s average price of farmland is just over $10,000 an acre. Will that price appreciation and farmland values continue to rise over the last half of 2022? Honestly, nobody knows and all we can do is look at the conditions.
Does Interest Rates Affect Farmland Values?
The Fed fighting inflation and recession looming create elements that pull back on farmland prices. Farmland is a recession-proof asset, but it’s not an “interest-proof” asset. Increases in interest rates are a threat to land prices. Large crops have had mixed results in their effect. Import and export markets play a role but I fully expect demand to remain strong. Farms are profitable and they will spend it to buy land. When everybody is profitable at the same time and as farm sizes grow, we’re bound to keep this element and new normal. I have every expectation farmland prices will remain strong, but I can’t guarantee the same rate of appreciation is going to remain. That said, don’t you wish you’d bought 160 acres when it was $4,000 an acre and everybody was saying, “wow, how is anybody going to afford to farm with land prices that high?”
Iowa Land Auction Results June 19 – 25, 2022
| Date | County of Land Sale | Total Acres | Price Per Acre | CSR2 | Price Per CSR2 | Price | % Tillable |
|---|---|---|---|---|---|---|---|
| 6/20/22 | Franklin County Land Auction | 232.33 | $19,200.00 | 87.8 | $218.68 | $4,460,736.00 | 97.21 |
| 6/21/22 | Hancock County Land Auction | 78.76 | $17,700.00 | 88.5 | $200.00 | $1,394,052.00 | 100.00 |
| 6/21/22 | Buchanan County Land Auction | 117 | $17,500.00 | 89.4 | $195.75 | $2,047,500.00 | 98.73 |
| 6/21/22 | Black Hawk County Land Auction | 136.60 | $5,700.00 | 49 | $116.33 | $778,620.00 | 95.39 |
| 6/21/22 | Buchanan County Land Auction | 74 | $12,500.00 | 69.5 | $179.86 | $925,000.00 | 97.18 |
| 6/22/22 | Linn County Land Auction | 41.09 | $19,700.00 | 86.1 | $228.80 | $809,473.00 | 94.11 |
| 6/22/22 | Bremer County Land Auction | 73.93 | $14,650.00 | 84.1 | $174.20 | $1,083,074.50 | 99.46 |
| 6/22/22 | Bremer County Land Auction | 56.18 | $10,400.00 | 81.4 | $127.76 | $584,272.00 | 84.51 |
| 6/22/22 | Bremer County Land Auction | 69.99 | $13,800.00 | 77.2 | $178.76 | $965,862.00 | 95.86 |
| 6/22/22 | Page County Land Auction | 155.60 | $6,600.00 | 61.2 | $107.84 | $1,026,960.00 | 80.66 |
| 6/22/22 | Madison County Land Auction | 117.40 | $9,800.00 | 65.1 | $150.54 | $1,150,520.00 | 82.03 |
| 6/22/22 | Des Moines County Land Auction | 75.8 | $8,453.00 | 61.9 | $136.56 | $640,737.40 | 85.95 |
| 6/22/22 | Henry County Land Auction | 100.62 | $15,800.00 | 86.6 | $182.45 | $1,589,796.00 | 98.26 |
| 6/22/22 | Henry County Land Auction | 174.26 | $16,000.00 | 84.5 | $189.35 | $2,788,160.00 | 97.35 |
| 6/22/22 | Henry County Land Auction | 40.21 | $16,100.00 | 90.6 | $177.70 | $647,381.00 | 99.63 |
| 6/22/22 | Henry County Land Auction | 40 | $9,600.00 | 83.3 | $115.25 | $384,000.00 | 92.80 |
| 6/23/22 | Plymouth County Land Auction | 160 | $21,700.00 | 92.1 | $235.61 | $3,472,000.00 | 95.35 |
| 6/23/22 | Jones County Land Auction | 79 | $20,200.00 | 57.7 | $350.09 | $1,595,800.00 | 96.11 |
| 6/23/22 | Emmet County Land Auction | 102 | $7,900.00 | 72.3 | $109.27 | $805,800.00 | 98.04 |
| 6/23/22 | Emmet County Land Auction | 102 | $6,100.00 | 52.8 | $115.53 | $622,200.00 | 98.04 |
| 6/23/22 | Chickasaw County Land Auction | 146.04 | $13,100.00 | 82.5 | $158.79 | $1,913,124.00 | 94.49 |
| 6/23/22 | Chickasaw County Land Auction | 110.08 | $9,100.00 | 81.5 | $111.66 | $1,001,728.00 | 97.20 |
| 6/23/22 | Floyd County Land Auction | 156.49 | $11,850.00 | 83.5 | $141.92 | $1,854,406.50 | 83.81 |
| 6/23/22 | Floyd County Land Auction | 122.75 | $11,600.00 | 85.2 | $136.15 | $1,423,900.00 | 88.61 |
| 6/24/22 | Adair County Land Auction | 80 | $8,250.00 | 51.4 | $160.51 | $660,000.00 | 91.25 |
| 6/24/22 | Grundy County Land Auction | 80.5 | $20,150.00 | 89.9 | $224.14 | $1,622,075.00 | 100.00 |
| 6/24/22 | Grundy County Land Auction | 145.56 | $13,029.00 | 88.1 | $147.89 | $1,896,501.24 | 94.61 |
| STATEWIDE TOTALS | 2868.19 | $13,203.04 | 77.16 | $169.31 | $38,143,678.64 | 97.50 |
Jason Smith, Broker | Auctioneer
Founder, Farmland Auctioneer & Land Broker
Jason is an experienced farmland broker and auctioneer with extensive experience in farmland sales across this Midwest. Jason has worked with hundreds of clients to create advantageous outcomes. If you are selling land schedule a consultation with Jason by calling or using the calendar.
Email: [email protected] | Phone: 515-537-6633
Minnesota Recent Farmland Auctions
On June 27th in Sibley County, MN near Arlington and Green Isle, 149.87 acres of tillable farm sold for $8,274/acre and has a 92 CPI.
152.78 acres in Clay County, MN near Comstock sold for $5,531/acre on June 23rd.
Missouri Recent Farmland Auctions
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Iowa Land Prices at A Glance
Our Iowa Farmland Price Heat Maps have been a huge help for people that want to visualize and research farmland prices in Iowa. Here you can research your farm’s proximity or the statewide market and see individual sale results, average prices per acre, the average price per CSR2 point, as well as volumes of sales, and the number of acres sold. Use this market price research tool right here at DreamDirt. Click the Iowa map to get started.
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