Recent Midwest Farmland Prices – IA, MN, MO, SD
Iowa Farmland Prices June 6th – 10th
As you can see from the table below, last week was busy for farmland auctions and sales in Iowa! There was a total of 3,139.72 acres that were sold by the auction method across Iowa and the average price per acre is $12,946.88. This is considerably higher than the average price of Iowa farmland of $9,751/acre from last year’s Iowa State University 2021 Land Survey. The highest selling farmland in Iowa last week was located in Grundy County, Iowa six miles southwest of Parkersburg, Iowa. 121.79 acres sold for $21,300/acre and Tract 2 77.83 acres sold for $21,200/acre on June 7th. We also saw 655.02 acres being sold choice of quarter sections in Pocahontas County sell for $19,500/acre or $12.7+ million. Average dollars per CSR2 is holding strong at $172.45 which seems to be the average range lately.
Auctioneer, Land Broker, Founder
Jason holds Auctioneer or Land Broker licenses in Iowa, Missouri, Minnesota, Nebraska, and South Dakota. His DreamDirt team is comprised of auctioneers, land brokers, and realtors. They specialize in farmland sales primarily serving the heirs to family farms all across Iowa and surrounding states. We offer risk-free selling experiences and work hard to maximize the value of our client's assets using highly effective auction methods, technology, and powerful advertising.
Email: Jason@dreamdirt.com | Phone: (515) 537-6633
Choosing Who to Call First When Deciding to Sell Farmland
I can remember sitting in class somewhere when I was new to auctioneering and the instructor asked, “who is the first person to know when a couple is going to get married?” There were many guesses that came from the students. Many guessed the brides father. Some guessed the grooms friends but the answer was “the Jeweler” which all of a sudden seemed obvious. The Jeweler had to sell a ring before an engagement could happen and would obviously know.
I went to pick up my mail the other day and it had rained the night before. If you have spent much time in the Midwest, its pretty common to have a rain guage on your mailbox. It had rained the night before so I was anxious to get to the mailbox to see how much rain we had gotten. As I approached my mailbox the thought hit me that often people get their weather information from a Meteorologist, yet the mailman might have better data! In fact, I once lived next door to man that delivered our mail and he used to give me the rainfall totals from his route since he had read all the gauges as he delivered the mail.
It happened just after I’d taken a phone call from a person selling a farm in northern Iowa. She didn’t want us to sell the farm for her, she was engaging a lawyer to sell the farm which is always a frustrating situation for us. She just wanted me to give her some information I’d talked about online. We know we have the best resources, (obviously, she was calling asking for some of it) we know we have the best data and we know we certainly offer a much wider exposure and marketing platform but an attorney has a law degree, friends in high places and lots of wealthy clients so some assume they are a better choice to sell farmland for them. While that line of thinking is extremely flawed it happens often enough. Much like my rain gauge the Meteorologist served his purpose and predicted the storm, but the mailman was the right person to ask for the results.
Rise in Interest Rates and How it will Affect Farmland Prices
The Fed met this week and we saw interest rates move up 3/4 of a percent! It was the biggest jump since 1994 and signaled additional larger increasing coming. This creates an interesting situation for those of us selling farmland and guiding clients to successful outcomes. I’ve heard all kinds of mentions of the 1980’s this week. We are a LONG ways from that. But if more increases are coming and you are on the verge of selling farmland, what are you waiting for. Honestly, if you are selling now really is the time to contact us. The more a borrower has to pay interest the less that will go to the farmland seller.
Best Time to Sell Farmland
Additionally, the May Economic report showed staggering inflation this week with an 8.6 increase and housing at a 12 month high. With mortgage rates for real estate going up and the Feds trying to cool the economy I think there are some unknowns ahead of us but far enough ahead there is some sanctuary in the near future. I always say “we know where we are at now, if its good enough for you let’s do it now” versus waiting into a time period where we do not know where we are at.
Call me anytime to discuss your situation and potential farmland sale at 515-537-6633
|Date||County||Total Acres||Tillable Acres||Price Per Acre||CSR2||$ per CSR2||Price||% Tillable|
Farmland Auctioneer | Land Broker
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: email@example.com | Phone: (515) 954-8063
Midwest Farmland Prices June 6th – 10th
Since we are licensed in multiple Midwest states surrounding Iowa, we have decided to include some recent farmland sales results from Minnesota, South Dakota, Nebraska, Kansas, and Missouri. Data for farmland prices in these states are harder to find than Iowa farmland prices. If you are wanting to know what your farm is worth contact us today for an appraisal.
Minnesota Farmland Prices
I found two auctions in Minnesota last week. In Redwood County, MN 157.29 acres of tillable farmland sold for $11,101/acre. This farm has a 93.3 soil productivity rating and is 99.14% tillable. Dollars per soil productivity came out to be $118.98 for this farm. 147 acres in Yellow Medicine, MN sold for $10,700/acre or $115.45/Soil Productivity. This tillable farm has a 92.7 soil rating and is 94.1% tillable.
Missouri Farmland Prices
There were three farmland auctions in Missouri we found results for during the first part of June. In Lewis County, MO 244.5 acres of tillable, pasture, and timberland sold for an average of $5,017/acres. 77.7 acres of pasture in Schuyler County, MO sold for $5,150/acre. 402 acres of tillable and pasture farm sold for $6,951/acre on average in Clark County, MO.
South Dakota Farmland Prices
In South Dakota, 160 acres in McCook County sold for $11,200/acre or $146/Soil productivity for tillable farmland. There was a second tract of 160 acres that sold for $9,700/acre as well. In Turner, SD 80 acres sold for $13,650/acre or $158.72/soil productivity on a 92.95% tillable farm.
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, avethe rage 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.
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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180.83 Acre Farmland in Adair County, IA
Land For Sale in Adair County, Iowa Sellers: Edward Steward Auctioneers: Tom Bradley | (515) 202-7687 Location: Richland Township, Iowa Land Auction Details in Adair County, Iowa On a paved road, these 2 tracts of no-till farms are located south of Fontanelle, IA...