Jason Smith

Jason Smith

Auctioneer, Land Broker, Appraiser

Jason is an Auctioneer and Land Broker in northwest Iowa at Storm Lake and Mason City.  Jason and his Iowa farmland team specialize in farmland sales primarily serving the heirs to family farms.  Today's report details the current land market in Iowa for land being sold at auctions.

Email: jason@dreamdirt.com | Phone: (712)213-6400

This week I’m including 2 weeks of sales in one report.  The last 14 days have been as busy as we’ve ever been!  We have done more private transactions connecting buyer and seller.  Its an obvious sellers market today and sellers are getting more than they wanted in many cases.  Our clients over the past 3 months have been overwhelmed at the results of their land auctions and many private sellers that desire to sell direct rather than have an an auction are seeing the same success. I said it a few weeks ago, in most years you have to go to auction to get the top of the market results but in the case of 2021 demand is so strong we are seeing comparable sales in the private sales market and for many the convenience of avoiding the auction process has been appealing.  If you want to sell privately you still have time to close before the end of 2021.  If you want to sell by auction you are looking at closing in 2022 at this point.

Last week we were selling in Pottawattamie County for 4K’s LT which was a family inheritance on the north side of Carson Iowa.  I had written about this farm in the past and had good reason to believe it would sell very well.  A few months ago we had sold a farm just 9 miles east of this farm with 90+ CSR for $13,550 and this farm being close to town but mid 70-80’s CSR’s was likely to do well because of proximity to market plus some potential development opportunities being on the edge of town.  At the end of the day the farm beat our original estimates by thousands of dollars per acre because we’d done our original estimates before the run up in land prices in 2021.  In fact, we’d first visited with this family 5 years before the sale and as often is the case the process can be slow.  

To say the family was happy with the results is an understatement. After the auction we received this note:

Jason,
Thank you so much for everything! You and your team at DreamDirt were simply incredible!
We are very grateful to you for walking us through the auction process, and reassuring us along the way – knowing exactly how it would go down – and then some! It was so intense at the end…talk about an adrenaline rush!  And, a special shout out to Stephanie for us, she has been extremely helpful and responsive.

Win Lewis
4K’s LTD

 

heat map of Iowa Farmland sales

Iowa Land Prices at A Glance

Our Iowa Farmland Price Heatmaps have been a huge help for people that want to visiuliaze 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, 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.

Iowa Farmland Sales News This Week

There has NEVER been a set of charts that look like those you are about to read!  The prevalence of $200 plus per CSR2 point and sales in the $19,000 and $20,000 range are increasing.  Is the market going up or down?  Judging based on these 2 weeks worth of data we are still moving ahead with land prices in Iowa.  Each week can paint a different picture based on the mix of farms sold in a particular week but these two weeks just blow me away.  The Iowa land market is very strong. 

Iowa Farmland Sales Week Ending November 12, 2021

County Acres $/acre CSR2 $/CSR2
Lyon County 134.63 $14,800 68.9 $214.80
Lyon County 98.81 $13,500 65.1 $207.37
Crawford County 79 $18,500 83.9 $220.50
Crawford County 77 $15,100 85.8 $175.99
Sioux County 77 $21,200 90.3 $234.77
Marshall County 118.50 $15,000 92.0 $163.04
Osceola County 81.5 $17,000 95.8 $177.45
Osceola County 32.6 $17,000 98.7 $172.24
Osceola County 40.05 $9,950 90.8 $109.58
Sioux County 40.16 $19,100 99.8 $191.38
Sioux County 40.16 $18,900
99.9 $189.19
Sioux County 32.86 $19,000 97.6 $194.67
Sioux County 105.22 $15,500 82.5 $187.88
Sioux County 128.35 $14,500 77.5 $187.10
Emmet County 62.27 $13,000 80.5 $161.49
Emmet County 79.85 $15,100 85.2 $177.23
Emmet County 80.01 $15,100 82.4 $183.25
Emmet County 80.18 $13,000 80.8 $160.89
Montgomery County 73.28 $9,000 74.8 $120.32
Mitchell County 233 $15,600 94 $165.96
Mahaska County 160 $8,175 64.5 $126.74
O'Brien County 75.31 $19,100 94.6 $201.90
Dicinson County 68.77 $16,500 94.7 $174.23
Dickinson County 80.15 $13,500 91.7 $147.22
Dickinson County 39.23 $13,500 94.9 $142.26
Dickinson County 80.21 $16,000 89.8 $178.17
Dickinson County 80.13 $15,000 94.6 $158.56
Dickinson County 158.74 $9,700 77.9 $124.52
Palo Alto County 85 $10,950 78.1 $140.20
Sioux County 80 $20,100 99 $203.03
Sioux County 73.70 $17,800 95.9 $185.61
Shelby County 58.58 $11,100 72.4 $153.31
Hardin County 152 $9,200 79.7 $115.43
Mitchell County 72 $13,688 86.7 $157.88
Dallas County 834.35 $15,600 83.42 $187

Iowa Farmland Sales Week Ending November 5, 2021

County Acres $/acre CSR2 $/CSR2
Harrison County 78.15 $8.350 63.8 $130.88
Harrison County 280 $7,050 53.7 $131.28
Grundy County 170 $15,000 88.92 $168.69
Benton County 112.25 $14,100 88.20 $159.86
Benton County 79 $13,900 86.40 $160.88
Guthrie County 76 $8,500 56.05 $151.65
Sioux County 80.84 $16,400 88.4 $185.52
Washington County 81.48 $16,700 91.8 $181.92
Kossuth County 160 $11,500 79.3 $145.02
Kossuth County 155.19 $11,800 86.1 $137.05
Sioux County 112.20 $18,300 91.1 $200.88
Pottawattamie County 118.5 $13,200 72.4 $182.32
Pottawattamie County 80.4 $12,025 82.4 $145.93
Greene County 76.59 $13,500 86 $156.98
Grundy County 95.62 $16,000 87.4 $183.07
Sioux County 89.14 $16,400 88.5 $185.31
O'Brien County 78.9 $17,700 97 $182.47
O'Brien County 152.3 $14,900 93.2 $159.87
Greene County 90 $11,400 83.9 $135.88
Greene County 160 $11,400 78.8 $144.67
Greene County 41.21 $6,600 82.6 $79.9
Greene County 105.17 $10,450 79.2 $131.94
Greene County 40 $10,600 77.5 $136.77
Guthrie County 45.13 $12,350 87.4 $141.30
Pocahontas County 78.49 $14,500 87.1 $165.90
Pocahontas County 75.18 $14,500 85 $170.59
Clay County 80 $17,500 94.4 $185.38
Sioux County 127.62 $18,500 93.2 $198.50
Benton County 147.58 $15,800 90.3 $174.97
Carroll County 113.24 $16,900 84.7 $199.53
Clay County 80 $17,500 78.5 $222.93
Sioux County 154.14 $17,950 94.3 $190.35
Dickinson County 80.21 $13,100 85.2 $153.76
Dickinson County 79.93 $14,200 86.8 $163.59
Webster County 54.95 $12,500 81.7 $1523
Webster County 105.34 $7,850 82.7 $94.92
Lyon County 59.39 $14,100 62.4 $225.96

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