Unlocking the Value of Iowa Farmland: A Comprehensive Guide to Current Land Prices and Expert Insights - November 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.

Iowa November 2024 Farmland Auction Sales Report

Understanding Iowa Farmland Values:

Rural Mainstreet Index (RMI) – November 2024 Update

Creighton University’s Rural Mainstreet Index (RMI) rose above growth neutral for the first time since July 2023, reaching 50.2 in November (up from 35.2 in October). This modest improvement reflects healthy crop yields and lower fuel costs, though weak commodity prices remain a significant concern. Over 80% of surveyed bankers cite low ag commodity prices as the greatest threat to farmers.

Iowa Highlights:

  • RMI: Iowa’s RMI rose to 49.6 in November (up from 37.1 in October).
  • Farmland Prices: The state’s farmland price index climbed slightly to 41.1 (from 38.6 in October).
  • Hiring: Iowa’s new hiring index dipped to 49.3 (down from 52.4).
  • Exports: Year-to-date agricultural and livestock exports fell 2.3% to $1.1 billion (down from $1.2 billion in 2023).

Farmland Prices:
Farmland prices across the region continued to decline, with the overall farmland price index improving slightly to 44.4 (up from October’s 38.5). Bankers anticipate a 2.7% decline in farmland prices over the next 12 months due to high input costs, elevated interest rates, and grain prices below breakeven levels.

Economic Challenges:

  • Farm Equipment Sales: The index hit 14.6, its lowest since 2016, reflecting high borrowing costs and weak farm incomes.
  • Banking Trends: Loan volumes and deposits decreased, influenced by higher interest rates.
  • Confidence & Retail: The confidence index improved to 46.4 but remains below growth neutral. High debt levels and weaker farm incomes are affecting both retail and home sales.

This monthly survey of 10 agriculturally dependent states offers a real-time snapshot of the rural economy, highlighting ongoing challenges faced by farmers, particularly in Iowa.

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 November, a total of 14,592.15 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 November Auction sales is $12,714 per acre
  • The highest selling farm in Iowa in the month of November sold on the 8th in Mills County for $3,292,800.
    • This farm was sold by the auction method for $11,200 per acre and was 294 acres of farmland which has a soil score rating of 72.5 CSR2 calculating to be $154/CSR point.
  • The highest dollars per acre farm in Iowa that sold in the month of November went to a 51.27 acre tillable farm in Lyon County which sold for $24,250 per acre on November 13th, 2024 by auction.This farm has a 73.3 CSR2 which totals to be $331/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 November, the average price per tillable acre INCREASED from $11,326/acre to $12,714/acre for 80% or more tillable farms. A year ago, the average price per tillable acre was $12,282.01/acre. If you’re contemplating selling your farm, feel free to reach out to us for an expert opinion on its current market value.

Iowa Farmland Prices Average Price Per acre November 2024 Values

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

The volume of acres sold in November showed an increase from last month. In October, 8,051 acres were sold at auction and in November 14,592.15 acres were sold compared to 20,774.87 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!

Number of farmland acres sold by auction in Iowa November 2024

Monthly Iowa Auction Results: Average Price Per CSR2 Point

The average price per CSR2 point of $166 increased from October to November. Comparatively, the price per CSR2 point was $164.83 a year ago. 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.

Average price per CSR2 of farmland in Iowa November 2024 sales results

Recently Sold Land in Iowa Price Results

Date County Type Acres $/Acre Tillable % Tillable CSR2 $/CSR2 Total
11/1/2024 Chickasaw Tillable 155.22 $15,000 149.59 96.37 87.3 $172 $2,328,300
11/1/2024 Sioux Tillable 75 $23,400 72.5 96.67 97.5 $240 $1,755,000
11/1/2024 Calhoun Tillable 154.1 $13,600 149.31 96.89 83.5 $163 $2,095,760
11/1/2024 Wright Tillable 155 $12,900 152.11 98.14 83.7 $154 $1,999,500
11/1/2024 Grundy Tillable 81.91 $16,250 81.49 99.49 93.3 $174 $1,331,038
11/4/2024 Polk Development-Tillable 33.77 $12,000 28.12 83.27 66 $182 $405,240
11/4/2024 Jasper Tillable 90.27 $11,299 89.12 98.73 71.1 $159 $1,019,961
11/6/2024 Webster Tillable-CRP 97.22 $9,500 83.91 86.31 87.2 $109 $923,590
11/6/2024 Clay Tillable 80 $14,200 69.69 87.11 96.5 $147 $1,136,000
11/6/2024 Butler Tillable 109.13 $9,350 100.34 91.95 67.3 $139 $1,020,366
11/6/2024 Clay Tillable 159.25 $16,100 151.04 94.84 95.7 $168 $2,563,925
11/6/2024 Fremont Tillable 100.6 $9,975 95.6 95.03 93.6 $107 $1,003,485
11/6/2024 Lee Tillable 80 $14,500 76.04 95.05 61.7 $235 $1,160,000
11/6/2024 Chickasaw Tillable-Site 11.53 $14,000 11.05 95.84 76.3 $183 $161,420
11/6/2024 Chickasaw Tillable 129.55 $11,600 126.43 97.59 78.6 $148 $1,502,780
11/6/2024 Humboldt Tillable 75 $14,300 73.56 98.08 86 $166 $1,072,500
11/6/2024 Clay Tillable 74 $11,600 73.63 99.50 92 $126 $858,400
11/6/2024 Cerro Gordo Tillable-CRP 64.85 $10,991 64.85 100.00 81.9 $134 $712,766
11/7/2024 Iowa Tillable 61.5 $10,500 49.55 80.57 58.9 $178 $645,750
11/7/2024 Clinton Site-Tillable 11 $16,750 8.95 81.36 91.7 $183 $184,250
11/7/2024 Clinton Tillable 105 $11,300 96.96 92.34 83.9 $135 $1,186,500
11/7/2024 Lyon Tillable 88.32 $21,000 83.86 94.95 69.7 $301 $1,854,720
11/7/2024 Humboldt Tillable 73 $11,800 71.3 97.67 83.8 $141 $861,400
11/7/2024 Clinton Tillable 76.3 $10,300 75.3 98.69 75.6 $136 $785,890
11/7/2024 Kossuth Tillable 80 $6,400 79.79 99.74 53.8 $119 $512,000
11/8/2024 Mills Tillable 294 $11,200 259.87 88.39 72.5 $154 $3,292,800
11/8/2024 Hancock Tillable 75 $14,000 66.74 88.99 82.3 $170 $1,050,000
11/8/2024 Hancock Tillable-Hay 80 $13,200 71.66 89.58 84.7 $156 $1,056,000
11/8/2024 Wright Tillable 148 $8,500 134.73 91.03 81.4 $104 $1,258,000
11/8/2024 Hancock Tillable 78 $13,600 71.47 91.63 85.2 $160 $1,060,800
11/8/2024 Hamilton Tillable 85 $12,300 78.89 92.81 81 $152 $1,045,500
11/8/2024 Sioux Tillable 103.05 $13,700 97.79 94.90 75.2 $182 $1,411,785
11/8/2024 Wright Tillable 76 $10,600 72.26 95.08 78.7 $135 $805,600
11/8/2024 Hancock Tillable 80 $14,500 76.54 95.68 85.9 $169 $1,160,000
11/8/2024 Hardin Tillable 118 $10,000 115.84 98.17 76.7 $130 $1,180,000
11/9/2024 Marion Tillable 61 $17,700 55.45 90.90 85.2 $208 $1,079,700
11/9/2024 Marion Tillable 90 $18,100 86.88 96.53 90.8 $199 $1,629,000
11/11/2024 Lyon Tillable 59.95 $18,600 58.5 97.58 68.2 $273 $1,115,070
11/11/2024 Lyon Tillable 99.48 $17,700 97.65 98.16 72.5 $244 $1,760,796
11/12/2024 Adair Tillable-CRP 102.91 $6,700 88.58 86.08 62.8 $107 $689,497
11/12/2024 Plymouth Tillable 80 $10,000 73 91.25 54.3 $184 $800,000
11/12/2024 Osceola Tillable 80 $17,800 74.94 93.68 90.5 $197 $1,424,000
11/12/2024 Fremont Tillable 57.73 $8,755 54.74 94.82 66.5 $132 $505,426
11/12/2024 Humboldt Tillable 184 $10,500 177 96.20 83.1 $126 $1,932,000
11/12/2024 Palo Alto Tillable 80 $11,000 78.09 97.61 84.4 $130 $880,000
11/12/2024 Calhoun Tillable 144.01 $14,300 143.16 99.41 84.7 $169 $2,059,343
11/12/2024 Clinton Tillable 151.35 $12,444 151.35 100.00 76 $164 $1,883,399
11/12/2024 Washington Tillable 74.1 $13,700 74.1 100.00 77.4 $177 $1,015,170
11/12/2024 Fremont Tillable 80 $7,725 80.58 100.73 74.5 $104 $618,000
11/13/2024 Adams Tillable 237.47 $6,300 189.75 79.90 66.3 $95 $1,496,061
11/13/2024 Adams Tillable 159.25 $6,750 130.25 81.79 69.8 $97 $1,074,938
11/13/2024 O'Brien Tillable-CRP 153 $10,500 134.75 88.07 92.7 $113 $1,606,500
11/13/2024 Union Tillable 335.09 $8,400 300.24 89.60 78.5 $107 $2,814,756
11/13/2024 Adams Tillable 200 $6,600 183 91.50 56.9 $116 $1,320,000
11/13/2024 Lyon Tillable 45.41 $23,500 43.23 95.20 70.3 $334 $1,067,135
11/13/2024 Adams Tillable 238.9 $10,000 227.58 95.26 73.7 $136 $2,389,000
11/13/2024 Lyon Tillable 96.35 $22,700 92 95.49 75 $303 $2,187,145
11/13/2024 Taylor Tillable 156 $8,500 151.45 97.08 69.6 $122 $1,326,000
11/13/2024 Lyon Tillable 51.27 $24,250 50.35 98.21 73.3 $331 $1,243,298
11/13/2024 Floyd Tillable 159.26 $7,061 157.69 99.01 76 $93 $1,124,535
11/13/2024 Taylor Tillable 195.8 $12,200 194.77 99.47 75.1 $162 $2,388,760
11/13/2024 Floyd Tillable 159.28 $9,109 159.28 100.00 80.5 $113 $1,450,882
11/14/2024 Jackson Tillable 29.68 $8,800 26.69 89.93 32.8 $268 $261,184
11/14/2024 Jackson Tillable 40 $15,000 36.74 91.85 54.3 $276 $600,000
11/14/2024 Worth Tillable 82.59 $12,700 76.22 92.29 79.8 $159 $1,048,893
11/14/2024 Jackson Tillable 37.98 $11,500 35.79 94.23 37.5 $307 $436,770
11/14/2024 O'Brien Tillable 40 $7,200 38.06 95.15 81.3 $89 $288,000
11/14/2024 Buena Vista Tillable 71.57 $14,000 68.3 95.43 91.7 $153 $1,001,980
11/14/2024 Dickinson Tillable 162.08 $12,900 157.09 96.92 84.5 $153 $2,090,832
11/14/2024 Clay Tillable 60.215 $15,250 58.5 97.15 94.8 $161 $918,279
11/14/2024 Chickasaw Tillable 145.74 $9,600 145.74 100.00 73.2 $131 $1,399,104
11/14/2024 O'Brien Tillable 79.5 $16,200 79.5 100.00 95.6 $169 $1,287,900
11/14/2024 Sioux Tillable 40.61 $18,500 40.61 100.00 91.7 $202 $751,285
11/15/2024 Page Tillable 69.97 $8,700 57.64 82.38 69.1 $126 $608,739
11/15/2024 Keokuk Tillable 80 $12,200 71 88.75 73.2 $167 $976,000
11/15/2024 Sioux Tillable 75.18 $18,700 69.5 92.44 91.3 $205 $1,405,866
11/15/2024 Keokuk Tillable 157 $14,500 147 93.63 71.2 $204 $2,276,500
11/15/2024 Story Tillable 186.42 $14,200 182.7 98.00 87.3 $163 $2,647,164
11/15/2024 Sioux Tillable 80.84 $21,750 79.83 98.75 95.3 $228 $1,758,270
11/15/2024 Story Tillable-Wind Turbine 171.15 $13,700 169.4 98.98 87.7 $156 $2,344,755
11/15/2024 Allamakee Tillable-Organic 47.25 $10,000 47.25 100.00 60.2 $166 $472,500
11/15/2024 Keokuk Tillable 77 $18,800 77 100.00 85.4 $220 $1,447,600
11/16/2024 Cass Tillable-Wind Turbine 150 $9,200 121.1 80.73 62.3 $148 $1,380,000
11/16/2024 Cass Tillable 76 $8,700 62.4 82.11 66.7 $130 $661,200
11/16/2024 Cass Tillable 152 $6,500 130.2 85.66 56.7 $115 $988,000
11/18/2024 Sioux Tillable 48.24 $16,000 45.73 94.80 86 $186 $771,840
11/19/2024 Plymouth Tillable 75.09 $10,600 66.19 88.15 63.2 $168 $795,954
11/19/2024 Plymouth Tillable 99.61 $9,200 91.59 91.95 55.3 $166 $916,412
11/19/2024 Hancock Tillable 114 $13,056 106.92 93.79 83.8 $156 $1,488,384
11/19/2024 Plymouth Tillable 56.72 $12,000 54.04 95.28 54 $222 $680,640
11/19/2024 Story Tillable 76 $12,600 73.47 96.67 79.7 $158 $957,600
11/19/2024 Plymouth Tillable 76.73 $9,750 74.5 97.09 58.3 $167 $748,118
11/19/2024 Calhoun Tillable 80 $17,500 77.76 97.20 86 $203 $1,400,000
11/19/2024 Union Tillable 39.75 $7,100 39.14 98.47 66.8 $106 $282,225
11/19/2024 Winneshiek Tillable 156 $14,000 155.67 99.79 83.1 $168 $2,184,000
11/20/2024 Pottawattamie Tillable 80 $11,900 68.02 85.03 70.2 $170 $952,000
11/20/2024 Pottawattamie Tillable 182 $12,600 159.54 87.66 62.9 $200 $2,293,200
11/20/2024 Pottawattamie Tillable 125 $16,300 118.46 94.77 73.9 $221 $2,037,500
11/20/2024 Pottawattamie Tillable 160 $12,700 152.47 95.29 54.8 $232 $2,032,000
11/20/2024 Grundy Tillable 151.39 $12,600 145.54 96.14 89.8 $140 $1,907,514
11/20/2024 Worth CRP 115 $8,900 111.2 96.70 80 $111 $1,023,500
11/21/2024 Monroe Tillable 31 $8,100 27.61 89.06 51.1 $159 $251,100
11/21/2024 Cerro Gordo Tillable 80 $7,550 75.48 94.35 64.9 $116 $604,000
11/21/2024 Chickasaw Tillable-CRP 57.13 $9,000 54 94.52 78.7 $114 $514,170
11/21/2024 Chickasaw CRP 35 $5,775 33.4 95.43 52.3 $110 $202,125
11/21/2024 O'Brien Tillable 80 $16,200 77.46 96.83 92.9 $174 $1,296,000
11/21/2024 Kossuth Tillable 156.36 $10,500 152.37 97.45 73.8 $142 $1,641,780
11/21/2024 O'Brien Tillable 80 $16,100 78.45 98.06 92.5 $174 $1,288,000
11/21/2024 Buena Vista Tillable 154 $14,000 151.3 98.25 85.7 $163 $2,156,000
11/21/2024 Chickasaw Tillable 77.55 $10,325 76.9 99.16 84.9 $122 $800,704
11/21/2024 Muscatine Tillable 148.91 $16,800 148.91 100.00 90 $187 $2,501,688
11/21/2024 Chickasaw Tillable 31.77 $9,325 32.2 101.35 68.7 $136 $296,255
11/22/2024 Polk Tillable 116 $14,700 98.5 84.91 83.6 $176 $1,705,200
11/22/2024 Ida Tillable 120 $13,100 108.13 90.11 74 $177 $1,572,000
11/22/2024 Hardin Tillable 160 $10,600 146.13 91.33 85.7 $124 $1,696,000
11/22/2024 Sioux Tillable 50.44 $16,800 47.82 94.81 86.2 $195 $847,392
11/22/2024 Hancock Tillable 87.46 $16,000 84.28 96.36 86.3 $185 $1,399,360
11/22/2024 Ida Tillable 160 $16,750 154.38 96.49 83.1 $202 $2,680,000
11/22/2024 Ida Tillable 154 $12,600 149.67 97.19 76.9 $164 $1,940,400
11/22/2024 Black Hawk Tillable 74.06 $15,200 72 97.22 80.3 $189 $1,125,712
11/22/2024 Ida Tillable 80 $15,250 78.76 98.45 78.4 $195 $1,220,000
11/25/2024 Plymouth Pasture 64.79 $10,000 56.85 87.75 59.9 $167 $647,900
11/25/2024 Plymouth Tillable 90.1 $14,000 80.56 89.41 75.6 $185 $1,261,400
11/25/2024 Clinton Tillable 160 $9,800 144.13 90.08 58 $169 $1,568,000
11/25/2024 Plymouth Tillable 119.16 $11,750 114 95.67 65.1 $180 $1,400,130
11/25/2024 Plymouth Tillable 110.76 $13,250 106.59 96.24 73.4 $181 $1,467,570
11/26/2024 Hardin Tillable-Farmstead 80 $11,000 72.87 91.09 85 $129 $880,000
11/26/2024 Hardin Tillable 20 $10,500 18.64 93.20 86.6 $121 $210,000
11/26/2024 Howard Tillable 160 $15,600 151.8 94.88 89.4 $174 $2,496,000
11/26/2024 Kossuth Tillable 80 $10,800 75.91 94.89 88.1 $123 $864,000
11/26/2024 Dallas Tillable 167.04 $13,939 159 95.19 81.2 $172 $2,328,371
11/26/2024 Hardin Tillable 40 $12,600 38.32 95.80 78.1 $161 $504,000
11/26/2024 Kossuth Tillable-CRP 140 $18,000 136.02 97.16 77.2 $233 $2,520,000
11/26/2024 Lyon Tillable 40 $18,700 38.9 97.25 90.8 $206 $748,000
11/26/2024 Pocahontas Tillable 117 $9,250 114.8 98.12 83 $111 $1,082,250
11/26/2024 Fremont Tillable 77.58 $11,800 76.95 99.19 87.4 $135 $915,444
11/26/2024 Fremont Tillable 154.34 $10,000 154.22 99.92 75.6 $132 $1,543,400
11/26/2024 Fremont Tillable-Irrigation 154.3 $10,900 154.3 100.00 81.4 $134 $1,681,870
11/27/2024 Lyon Tillable 58.91 $19,900 58.3 98.96 88.2 $226 $1,172,309
11/29/2024 Jefferson Tillable 44.5 $9,100 40.12 90.16 64.3 $142 $404,950
11/29/2024 Jefferson Tillable 141.5 $10,650 136.59 96.53 68.1 $156 $1,506,975
Totals/Averages 14592.145 $12,714 13763.36 94.41 76.92624113 $166 $179,743,597

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.