Iowa’s March Farmland Sales Summary

Apr 10, 2019 | Farmland Prices

Jason Smith

Jason Smith

CAI Auctioneer, Land Broker

Founder, Auctioneer, Broker, and Agent at DreamDirt, Jason Smith is a lead farm real estate professional in the Midwest. He has achieved the pinnacle of auction education earning the CAI designation and is one of only 11 CAI auctioneers in Iowa. Jason graduated from the World Wide College of Auctioneering, and has achieved the PRI designation from the Professional Ringmen Institute. Jason and his wife founded DreamDirt in 2005, and the company continues to be a leader in the farm auction space and prides itself in offering extensive land seller and buyer information.

Email: jason@dreamdirt.com | Phone: (515) 537-6633

Iowa Farmland Sales Volume For 80% Tillable Farms

Farmland Prices In Iowa For March, 2019

January and February were very similar, but March brought about some completely new land price and availability data. Floods in western Iowa and eastern Nebraska stand to be somewhat of a gamechanger in 2019. Typically we see a fairly decent volume of land going on the auction market in late winter and early spring. This year was no different. However, now with the flooding and devastation it caused, some farmers will be forced to leave agriculture due to financial failure and retirements.  This will ad an unanticipated supply of land into the marketplace.

This kind of natural disaster and destruction hurts locally. But it hurts the broader market as well. Any event that causes land to become available will also eat up local available money in different ways – regional and national investors only have so much to spend annually on farmland purchases and additional supply will spread that money over more acres. Farmland prices are likely to see a bit of a downturn as a result.

Up until this point, we have seen interest rates creeping higher and putting pressure on the cost of money. However, the Federal Reserve announced that there would be no more interest rate hikes this year, and have actually backed off the federal lending rate. The friction this caused on farmland prices has been reduced, but trade and low commodity prices continue to put pressure on land prices.

Overall, we may see this downward land trend for a few more weeks due to the pressure caused primarily by the flooding.

Average Price Per CSR2 Point For Iowa Farmland

The average price per CSR2 point in March 2019 was $99.29, across all 80% tillable farms sold at auction in Iowa. This is down from both January and February 2019. The CSR2 point rating is a measure of the soil’s productivity out of a scale of 100. It is important to remember that monthly variations depend on the quality of farms sold that month. The best representation of price per CSR2 point is over a longer period of time such as six months to a year.

 

Average Price Per Acre Of Tillable Farmland In Iowa

We saw an average price of $7,453.26 per tillable acre of farmland in March 2019. The monthly average has been slowly decreasing since

 

Selling Farmland In Iowa

Selling a farm doesn’t have to be a scary or stressful experience. If you are considering selling farmland in Iowa, DreamDirt can help you learn what your farm is worth for free. Not only that, but we have the data and expertise to offer you professional guidance in the marketing and sale of your land. You can call us at 515-537-6633 or click the link below to learn more.

March 2019 Average Price Per Acre Of Farmland

Iowa Farmland Prices – 12 Month Rolling Summary

 

Iowa Farmland Sales Report For March 2019 – 80% Tillable Farms

County Total Acres Tillable Acres Price Per Tillable Acre CSR2 $ per Tillable CSR2 Price % Tillable
Jasper 35 36.54 $8,400.00 84.4 $99.53 $306,936.00 104.40
Clarke 61.78 55.27 $6,700.00 71.5 $93.71 $370,309.00 89.46
Dickinson 60 59.3 $4,000.00 62.4 $64.10 $237,200.00 98.83
Emmet 126.55 118.23 $5,800.00 74.7 $77.64 $685,734.00 93.43
Fremont 399.7 342.85 $4,625.00 73.2 $63.18 $1,585,681.25 85.78
Iowa 44 39.8 $4,200.00 56 $75.00 $167,160.00 90.45
Pottawattamie 526 475.59 $6,475.00 73.7 $87.86 $3,079,445.25 90.42
Floyd 78 77.1 $4,500.00 72.1 $62.41 $346,950.00 98.85
Jefferson 40.19 39 $8,300.00 75.3 $110.23 $323,700.00 97.04
Jasper 80 77.4 $5,400.00 59.8 $90.30 $417,960.00 96.75
Jasper 80 71.04 $5,900.00 64.3 $91.76 $419,136.00 88.80
Marshall 53 50.99 $11,300.00 91.2 $123.90 $576,187.00 96.21
Greene 40 38.24 $8,600.00 84.8 $101.42 $328,864.00 95.60
Greene 160 154.75 $8,950.00 87.9 $101.82 $1,385,012.50 96.72
Lyon 104.9 99.12 $11,000.00 67.9 $162.00 $1,090,320.00 94.49
Howard 75 71.7 $7,300.00 86 $84.88 $523,410.00 95.60
Howard 20 17.1 $5,900.00 56 $105.36 $100,890.00 85.50
Howard 20 19.5 $7,100.00 76.7 $92.57 $138,450.00 97.50
Des Moines 79.93 75.81 $9,500.00 87.4 $108.70 $720,195.00 94.85
Union 116.61 108.5 $6,100.00 68.3 $89.31 $661,850.00 93.05
Madison 80 78 $5,000.00 58.9 $84.89 $390,000.00 97.50
Benton 215 213.55 $11,000.00 89.1 $123.46 $2,349,050.00 99.33
Benton 100 90.4 $9,400.00 87.8 $107.06 $849,760.00 90.40
Clarke 44 43.68 $6,600.00 72.4 $91.16 $288,288.00 99.27
Sioux 71.6 67.44 $10,300.00 77.1 $133.59 $694,632.00 94.19
Pocahontas 160 147.25 $5,000.00 73.7 $67.84 $736,250.00 92.03
Buena Vista 55.61 53 $5,500.00 63.5 $86.61 $291,500.00 95.31
Buchanan 109.2 102.12 $9,000.00 87.5 $102.86 $919,080.00 93.52
Winnebago 115.6 106 $4,800.00 59.1 $81.22 $508,800.00 91.70
Winnebago 138.32 115 $5,400.00 73.9 $73.07 $621,000.00 83.14
Dallas 140 132.64 $11,300.00 88 $128.41 $1,498,832.00 94.74
O’Brien 67.8 67.71 $10,000.00 97.6 $102.46 $677,100.00 99.87
Lyon 79.95 78.59 $11,400.00 69.1 $164.98 $895,926.00 98.30
Lyon 79.96 76.63 $9,900.00 67.7 $146.23 $758,637.00 95.84
Lyon 79.86 77.29 $10,800.00 67.1 $160.95 $834,732.00 96.78
Ida 19 16 $7,600.00 86.3 $88.06 $121,600.00 84.21
Marion 94.6 88.79 $8,450.00 80.3 $105.23 $750,275.50 93.86
Kossuth 160 152.59 $8,300.00 81.6 $101.72 $1,266,497.00 95.37
Clay 160 155.94 $10,600.00 95 $111.58 $1,652,964.00 97.46
Clay 40 37.69 $8,300.00 80.2 $103.49 $312,827.00 94.23
Boone 57.45 56.03 $8,050.00 83.2 $96.75 $451,041.50 97.53
Adams 77 67.44 $4,100.00 57.1 $71.80 $276,504.00 87.58
Adams 77 63.19 $2,300.00 35.2 $65.34 $145,337.00 82.06
Harrison 249.54 80 $4,900.00 54.7 $89.58 $392,000.00 32.06
Harrison 173.06 157.43 $6,900.00 70 $98.57 $1,086,267.00 90.97
Clay 58.19 56.7 $7,900.00 83.3 $94.84 $447,930.00 97.44
Statewide Totals 4903.4 4408.93 $7,453.26 74.20 $99.29 $32,682,220.00 89.92

Featured Farmland Auction In Iowa

This 103 acre farmland, pasture, and hunting ground next to the Clanton Creek Recreational Area in Madison County, IA is open for bidding online and will close on April 18 at 2:00 PM! Of the 103 acres, 41.3 acres are pasture and hay ground with wooded draws, 2 ponds, and fair to good fences. The farm currently has 32.7 acres enrolled in CRP paying $5,939 annually. There are 59.54 cropland acres. This a great opportunity to buy a recreational farm that is income producing! Click here for more information about this outstanding property!

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.

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