Farmland Recently Sold in Iowa- Price Per County

Jun 29, 2022 | Farmland For Sale, Farmland Prices, Iowa Auctioneers, Iowa Farmland Prices, Iowa Farmland Values, Iowa Land Auctions

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 Smith

Jason Smith

Auctioneer, Land Broker, Founder

Jason is an Auctioneer and Land Broker in Iowa and the surrounding states.  The DreamDirt team of auctioneers, land brokers, and realtors specialize in farmland sales primarily serving the heirs to family farms all across Iowa and some surrounding states.  Today's report details the current land market in Iowa for land being sold at auctions.

Email: Jason@dreamdirt.com | 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?”

farmland price appreciation in iowa in 2022
Auctioneer in Iowa Jason Smith

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
Rachel Tiffany

Rachel Tiffany

Farmland Auctioneer and Agent

Rachel is a licensed real estate salesperson specializing in the sale of farm, land, and rural residential real estate. She is a graduate of Iowa State University with a major in Animal Science and a minor in Agricultural Business. Rachel has a strong interest in valuations and appraisal of rural properties and studied Rural Property Appraisal at Iowa State. She also works for DreamDirt as the Online Auction Coordinator building and facilitating their online land and equipment auctions.

Email: rachel@dreamdirt.comPhone: (515) 954-8063

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

70.7 acres sold for $7,650/acre in Adair County, MO near La Plata and Kirksville on June 24th. This farm has 67.8 acres of cropland of which 58.6 are enrolled in CRP at $111.10/acre through Sept. 30, 2023.

Request a Free Valuation for Your Farm or Land Property

Whether you’re ready to start the selling process, or even remotely curious, we will gladly provide you with a FREE Market Analysis! If you are in a position to sell land in the Midwest, we want to help you achieve the top of the market on your sale.

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.

Farmland For Sale Adair County, Iowa

Farmland For Sale Adair County, Iowa

Farmland For Sale Adair County, IowaSellers: Gary Meyer, Judith Meyer, and Diane Darling  Auctioneers: Jason Smith 515-537-6633 and Rachel Tiffany 515-954-8063  Location: Bridgewater, Iowa Land Auction Details in Adair CountyThis farm is located on Highway 92 and has...

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