Unlocking the Value of Iowa Farmland: A Comprehensive Guide to Current Land Prices and Expert Insights - December 2024 Report

Welcome to Our Monthly Iowa Farmland Value Report

In this monthly report, we dive into Iowa farmland values, helping you understand the factors that determine what your farm is potentially worth. Our goal as auctioneers and farmland real estate agents is to provide you with up-to-date information, recent sales data, expert insights, and tips for maximizing the potential value of your farmland sale. Let us answer the questions you have about selling farmland in Iowa. Contact us today for a free consultation.

what is farmland in Iowa selling for? December 2024 sales report

Understanding Iowa Farmland Values:

Rural Mainstreet Index (RMI) – December 2024 Update

Iowa Farmland Prices: December 2024 Snapshot

The latest Creighton University Rural Mainstreet Index (RMI) survey sheds light on the challenges facing Iowa’s agricultural economy. For the seventh time in the past eight months, farmland prices in Iowa and neighboring states have declined. In December, Iowa’s farmland price index registered a modest increase to 41.5, up slightly from 41.1 in November, but still well below the growth-neutral threshold of 50.0. This dip reflects a broader regional trend influenced by elevated interest rates, rising input costs, and persistently low commodity prices. 

Despite the headwinds, the survey also noted some resilience in agricultural exports. According to trade data from the International Trade Association (ITA), regional agricultural exports rose by 2.8% year-over-year, reaching $9.98 billion for 2024 year-to-date. However, Iowa’s agricultural exports saw a slight decline, dropping to $1.27 billion from $1.28 billion in 2023, marking a 1.3% decrease. This mixed picture highlights the uneven impact of economic pressures across the region.

Broader Economic Trends Impacting Farmland Values

The December RMI revealed a steep decline in the overall rural economic outlook, with the index plummeting to 39.6 from 50.2 in November. Bankers reported that many farmers continue to grapple with high borrowing costs, weak grain prices, and reduced cash flows, creating a pessimistic outlook for the months ahead. Approximately 21.7% of surveyed banks reported raising credit standards in the past year, reflecting tighter financial conditions.

Farm equipment sales also reached their lowest level since 2016, contributing to the broader economic strain on rural communities. Meanwhile, confidence among rural bankers about future economic growth dropped sharply, with December’s confidence index falling to 37.5 from November’s 46.4.

For more detailed information, visit the Creighton University Rural Mainstreet Economy page.

Recent Farmland Sales Data

Let’s dive into the latest sales data, including county location, land size by acre amount, soil productivity ratings, and sale prices per acre and total price in the table below. By analyzing this data, you can get a clearer picture of how your property may be valued in the current market.

 

Current Average Price Per Acre of Farmland in Iowa

  • In the month of December, a total of 7,007 acres of 80% of more tillable farmland was sold in Iowa by auction
  • The current average per acre price for land in Iowa according to Decmeber Auction sales is $11,688 per acre
  • The highest selling farm in Iowa in the month of December sold on the 12th in Sioux County for $3,523,316.
    • This farm was sold by the auction method for $21,800 per acre and was 161.62 acres of farmland which has a soil score rating of 94.7 CSR2 calculating to be $230/CSR point.
  • The highest dollars per acre farm in Iowa that sold in the month of December went to a 76.56 acre tillable farm in Sioux County which sold for $26,750 per acre on December 23rd, 2024 by auction. This farm has a 95 CSR2 which totals to be $282/CSR2.
  • See full results from all tracts of farmland that sold in table at end of the page.
  • See how these averages compared to last month and a year ago below in next section below to see trend line history.
Jason J Smith

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.

Read Jason's Full Bio Here

Phone: 515-537-6633     Email: [email protected]

Current Farmland Prices in Iowa: A 12-Month Overview

Explore the accompanying graph to gain insights into the average farmland prices in Iowa over the past year. In December, the average price per tillable acre decreased slightly from $12,714/acre to $11,668/acre for 80% or more tillable farms. A year ago, the average price per tillable acre was $11,898.70/acre. 12-month rolling total for average price per acre of farmland in Iowa is $11,683.59.

If you’re contemplating selling your farm, feel free to reach out to us for an expert opinion on its current market value.

current average dollars per acre Iowa Dec 2024

Monthly Number of Acres Sold At Auction 80% or more Tillable Farms

The volume of acres sold in December showed an decreasefrom last month. In November, 14,592.15 acres were sold at auction and in December 7,007.08  acres were sold compared to 9,268.09 acres a year ago. If you’re contemplating selling, now is an opportune time to connect with us and discuss into the details of the process. Initiate the process today by completing this form, and one of our experienced auctioneers or land brokers will reach out to you promptly!

acres sold in Iowa in December 2024

Monthly Iowa Auction Results: Average Price Per CSR2 Point

The average price per CSR2 point of $164 decreased $2 from November to December. Comparatively, the price per CSR2 point was $160.22 a year ago. The 12-month rolling total for Iowa is $168.61/CSR2 point. This metric of soil productivity calculation plays a crucial role in determining the overall value of your farm. If you’re unsure about your farm’s CSR2 soil rating, don’t hesitate to contact us for a soil map and evaluation, especially if you’re considering selling land in Iowa.

Dec IA 2024 price per CSR2 point

Recently Sold Land in Iowa Price Results

Date County Acres $/Acre Tillable Acres % Tillable Tillable CSR2 $/CSR2 Total
12/02/2024 Carroll 52.55 $17,900 51.78 98.53 87.6 $204.00 $940,645
12/02/2024 Cass 119 $9,700 115.63 97.17 70.8 $137.00 $1,154,300
12/02/2024 Carroll 78.69 $17,400 77.5 98.49 86 $202.00 $1,369,206
12/03/2024 Union 62.45 $9,900 58.35 93.43 65 $152.00 $618,255
12/03/2024 Union 117 $7,000 104.69 89.48 58 $121.00 $819,000
12/03/2024 Story 80 $15,200 79 98.75 82.7 $184.00 $1,216,000
12/03/2024 Story 115.09 $15,000 111.79 97.13 84.4 $178.00 $1,726,350
12/03/2024 Hardin 244.45 $10,000 218.79 89.50 81.9 $122.00 $2,444,500
12/04/2024 Clayton 42.77 $9,400 39.91 93.31 29.3 $321.00 $402,038
12/04/2024 Louisa 79.39 $5,450 64.89 81.74 56.6 $96.00 $432,676
12/04/2024 Woodbury 72.07 $6,500 70 97.13 51.9 $125.00 $468,455
12/04/2024 Clayton 76.18 $9,600 66.72 87.58 20.5 $468.00 $731,328
12/04/2024 Louisa 131.68 $5,950 121.68 92.41 54.7 $109.00 $783,496
12/04/2024 Shelby 71.22 $11,036 68.01 95.49 51.2 $216.00 $785,984
12/04/2024 Louisa 122.67 $7,600 116.77 95.19 68.1 $112.00 $932,292
12/04/2024 Sioux 75.68 $15,550 75.68 100.00 84.5 $184.00 $1,176,824
12/04/2024 Sac 157.82 $14,100 157.45 99.77 88.6 $159.00 $2,225,262
12/05/2024 Kossuth 41.3 $15,600 40 96.85 87.9 $177.00 $644,280
12/05/2024 Kossuth 67.84 $15,300 66.67 98.28 84.2 $182.00 $1,037,952
12/05/2024 Wayne 170.66 $6,700 158.25 92.73 51.9 $129.00 $1,143,422
12/05/2024 Wayne 152.84 $7,950 145.7 95.33 55.8 $142.00 $1,215,078
12/06/2024 Woodbury 80.11 $8,300 80.11 100.00 67.4 $123.00 $664,913
12/06/2024 Mills 162.77 $8,700 145.43 89.35 76.5 $114.00 $1,416,099
12/06/2024 Guthrie 157 $12,400 147.6 94.01 84.6 $147.00 $1,946,800
12/09/2024 Woodbury 80 $7,500 75.74 94.68 70.3 $107.00 $600,000
12/09/2024 Woodbury 146 $8,900 124.33 85.16 55.6 $160.00 $1,299,400
12/10/2024 Fayette 129.15 $10,500 125.04 96.82 77.3 $136.00 $1,356,075
12/11/2024 Wayne 152.24 $7,100 123.51 81.13 58.5 $121.00 $1,080,904
12/11/2024 Decatur 216.55 $10,600 207.26 95.71 63.1 $168.00 $2,295,430
12/12/2024 Floyd 34.82 $12,731 32.5 93.34 88 $145.00 $443,293
12/12/2024 Page 39 $11,700 37.12 95.18 81.7 $143.00 $456,300
12/12/2024 Page 62.04 $7,700 57.58 92.81 77.2 $100.00 $477,708
12/12/2024 Page 54.97 $9,250 46.43 84.46 77.2 $120.00 $508,473
12/12/2024 Page 68.77 $10,200 68.12 99.05 80 $128.00 $701,454
12/12/2024 Shelby 88.65 $11,400 83.65 94.36 66.5 $171.00 $1,010,610
12/12/2024 Boone 75.85 $13,500 75.85 100.00 84.9 $159.00 $1,023,975
12/12/2024 Page 155.58 $7,000 133.1 85.55 68.9 $102.00 $1,089,060
12/12/2024 Page 220.7 $7,900 192.63 87.28 69.2 $114.00 $1,743,530
12/12/2024 Black Hawk 182.8 $15,481 182.8 100.00 85.9 $180.00 $2,829,927
12/12/2024 Sioux 161.62 $21,800 156.94 97.10 94.7 $230.00 $3,523,316
12/13/2024 Monona 69.2 $13,500 69.2 100.00 53.8 $251.00 $934,200
12/13/2024 Bremer 74.64 $13,000 69.44 93.03 87.3 $149.00 $970,320
12/13/2024 Black Hawk 127.83 $10,000 121.13 94.76 79.2 $126.00 $1,278,300
12/14/2024 Cass 160 $8,300 141 88.13 57.2 $145.00 $1,328,000
12/14/2024 Crawford 268.03 $9,200 265.13 98.92 61.9 $149.00 $2,465,876
12/16/2024 Buena Vista 75.35 $9,100 74.57 98.96 78.4 $116.00 $685,685
12/16/2024 Buena Vista 79.86 $8,900 78.86 98.75 83.4 $107.00 $710,754
12/16/2024 Buena Vista 79.98 $9,500 78.98 98.75 80.7 $118.00 $759,810
12/16/2024 Buena Vista 79.33 $10,400 76.36 96.26 83 $125.00 $825,032
12/16/2024 Buena Vista 76.79 $12,300 75.4 98.19 86.1 $143.00 $944,517
12/16/2024 Buena Vista 80.18 $13,400 76.4 95.29 88.3 $152.00 $1,074,412
12/16/2024 Lyon 63.67 $23,900 62.14 97.60 67.7 $353.00 $1,521,713
12/16/2024 Lyon 75.8 $20,500 72.72 95.94 68.4 $300.00 $1,553,900
12/16/2024 Woodbury 148 $10,800 128.77 87.01 58.3 $185.00 $1,598,400
12/17/2024 Des Moines 40 $11,500 39.73 99.33 83.7 $137.00 $460,000
12/17/2024 Des Moines 74 $12,100 72.33 97.74 86 $141.00 $895,400
12/17/2024 Marshall 70 $13,500 70 100.00 81.5 $166.00 $945,000
12/17/2024 Marshall 110 $13,400 109 99.09 85.1 $157.00 $1,474,000
12/17/2024 Jackson 156.2 $13,900 141.61 90.66 69 $201.00 $2,171,180
12/17/2024 Jasper 160 $13,600 150.43 94.02 79 $172.00 $2,176,000
12/20/2024 Johnson 77 $8,800 61.76 80.21 81.3 $108.00 $677,600
12/23/2024 Sioux 76.56 $26,750 75.6 98.75 95 $282.00 $2,047,980
12/28/2024 Dallas 142 $10,900 131.5 92.61 79.1 $138.00 $1,547,800
12/31/2024 Cerro Gordo 18 $10,605 16.7 92.78 63.2 $168.00 $190,890
12/31/2024 Washington 36.4 $15,000 35.75 98.21 78.2 $192.00 $546,000
12/31/2024 Cerro Gordo 76.81 $8,689 72.84 94.83 62.6 $139.00 $667,402
12/31/2024 Washington 111.48 $16,025 107.89 96.78 80.9 $198.00 $1,786,467
Totals/Averages 7007.08 $11,688 6580.24 94.49 72.95 $164.00 $78,971,247

Navigating the Selling Process:

Tips for Selling Your Farm in Iowa

Explore a set of practical tips for successfully selling your farmland by downloading our free eBooks here. Schedule a non obligatory consultation with us today and we will cover everything from when is the best time to sell, a customized marketing plan, sales methods, how we can help you find the right buyer, and answer your questions.

 

Farm Real Estate Experts in Iowa

Meet our team of Iowa farm real estate and auction experts who can provide you with valuable guidance and personalized assistance throughout the selling process. If you’re looking to uncover the true value of your Iowa farm or are considering selling, don’t hesitate to reach out to our experienced team. We’re here to provide you with a customized plan to meet your goals. Contact us today to get started.

Assessing Your Farm’s Worth:

Iowa Land Market Analysis Appraisal Technique

Curious what your farm could sell for? We prepare market analysis for each of our farmland sellers to help you discover and learn what your farm is worth from our market based research and expertise. Fill out our form here to request a market analysis of your Iowa farmland.