Iowa farmland Prices Auction Results Jan. 26 – Feb. 1
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
Farmland Auction season is in full swing and we’ve had a busy month this month at DreamDirt. If anything could characterize this week it would be “new farms” and I know the market will be happy to hear that, unfortunately things don’t move fast in our world and sometimes it can take a month or two, up to a year for something we look at to his the market.
We are now in the first week of February and maybe its an anomaly but we looked at more new listings this week than we had in the past 30 days. Sales volume and activity is as low as its been in a long time and the number of farmland auctions across Iowa is just at a crawl right now. Low commodity prices and uncertainty on sellers minds is playing a big role in the lower volume despite the fact the appetite for farmland is very high.
As you can see in this report this week on Iowa farmland prices the $100 plus per CSR2 point on tillable acres is still alive and well. 2 sales this week broke the $125 point barrier and 6 parcels breaking $100 per point. The week ended with an average price per CSR2 point at $83.74 pressured by 2 lower sales in far southern Iowa’s Wayne County. Absent the lowest sale the average is $91.23.
In total 15030.02 acres traded hands at auction in Iowa this week with 1225.9 (80.1%) of those acres being productive tillable land farmland. The unadjusted average CSR2 of the tracts sold at auction was 71.40 CSR2 this week and the average unadjusted price per acre $6146.43 giving an average of $86.07 per CSR2 point. The average price per CSR2 point fluctuates on a weekly basis and with so little sales volume we continue to see that fluctuate between $85 and $115 per point each week. This was a really normal week right there in the mid to high 80’s again but on the lower end of averages but inside the norms. It largely depends on the quality of farms offered each week and any tilt either way can mean a $10-$15 swing in averages. Month over month we continue to see that trend staying right under or above the $100 a CSR2 point.
The big question is always what does the future hold for farmland prices. Nobody can say for sure is the truthful answer. Commodity prices, trade deals, low interest rates, lower farm incomes are all playing into the picture right now and fighting with very low farmland sales volume. A chance in any of those things is going to change the trajectory of this market but today it remains a sellers market. For how long? Nobody knows until it happens but we know where we are today and thats a pretty comfortable spot to be in. If you own and plant to sell good quality farmland I would encourage you to get it to market now while we do know where we are at.
Next week we’ll be back with another report. Stay tuned to the DreamDirt blog for constant updates on Iowa Farmland Prices or visit our website DollarsAndDirt.com to keep current on whats happening across Iowa. If you are thinking about selling a farm or doing the research to learn what your farm is worth in Iowa I’m always available to help you understand not only the value of your farm but also your options to sell the farm. I’ve helped hundreds of families by crafting marketing campaigns that expose their farm to a local and national audience that will competed for their farm real estate. DreamDirt has an amazing following of loyal buyers that is always there and always ready to buy farms so please do contact me and let me give you more information and answer your questions for any Midwestern farm. If I can’t help you I can help you get to the right person that can help you. Call me at 712-592-8965
Iowa Farmland Auction Results from January 26 to February 1, 2018
| County | Total Acres | Tillable Acres | Price Per Tillable | CSR2 | $ per Tillable CSR2 | Total Price |
|---|---|---|---|---|---|---|
| Iowa County | 60 | 56.17 | $10,200.00 | 79.9 | $127.66 | $572934.00 |
| Keokuk County | 104 | 103 | $9200.00 | 72.6 | $126.72 | $947600.00 |
| Keokuk County | 50 | 35 | $4750.00 | 71.2 | $66.71 | $166250.00 |
| Crawford County | 283.74 | 244.3 | $5075.00 | 56 | $90.63 | $1239822.50 |
| Crawford County | 119.46 | 18.94 | $3375.00 | 61.8 | $54.61 | $63922.50 |
| Montgomery County | 156.25 | 125.57 | $5100.00 | 70 | $72.86 | $640407.00 |
| Montgomery County | 156.5 | 129.41 | $4550.00 | 71.3 | $63.81 | $588815.50 |
| Henry County | 40 | 35.5 | $9975.00 | 84.1 | $118.61 | $354112.50 |
| Wayne County | 136 | 112 | $2125.00 | 52.4 | $40.55 | $238000.00 |
| Wayne County | 144 | 107.46 | $2200.00 | 59.3 | $37.10 | $236412.00 |
| Van Buren County | 89.82 | 80.91 | $7000.00 | 59.3 | $118.04 | $566370.00 |
| Van Buren County | 9.93 | 7.66 | $3300.00 | 83.8 | $39.38 | $25278.00 |
| O’Brien County | 80.32 | 72.45 | $10,200.00 | 94.2 | $108.28 | $738990.00 |
| Greene County | 100 | 97.53 | $9000.00 | 83.8 | $107.40 | $877770.00 |
| STATEWIDE AVERAGE | $6146.43 | 71.40 | $83.74 | |||
| TOTALS | 1530.02 | 1225.9 | $7,256,684 |
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