Iowa Land Auction Results: Q3 2018

I would describe the current land market as stable with some local volatility. The following data suggests as much.

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Iowa Land Auction Results: Q2 2018

Based on the data, more land has come to market, so far, in 2018 than in 2017 and the trendlines in many of the following tables indicate some softening has occurred in land prices.

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Iowa Land Auction Results: Q1 2018

It is hard to distill true market trends with only 200 auctions over a quarter, however if we believe in the numbers, they revealed several interesting trends:

  • The average price for both all farms ($7,430/acre) and 85% tillable farms ($8,416/acre) are still higher than that a year ago.
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Iowa Farmland Auction Results: Q4 2017

Land auctions exceeded 200 sales in the last quarter of 2017 compared to merely 120 in quarter 3, with especially more land that is not necessarily higher-quality tillable farmland. This bump in farmland supply has resulted in a minor dip in the land prices over the past few months especially for lower quality land, however, the prices for higher quality tillable grounds are fairly stable and represent a modest increase over average sale price of $8,625 in 2016 quarter 4.

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Iowa Farmland Auction Results: Q3 2017

Land Auctions picked up the last month of quarter 3 with a good amount of land coming up for auction. September tested with market with more land being auctioned than any month in 2017. The quarter 3 data indicates a very stable market. The data suggests that quarter 3 is down slightly from quarter 2 by -0.4% on 85% tillable farms. The data suggests the market has gotten stronger throughout the year and even with more land being auctioned, the market appears to be very strong.

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Iowa Farmland Auction Results: Q2 2017

I have one word to describe the current land market in Iowa - STRONG. This contradicts everything you hear from the news media. No, the news media is not reporting “fake news”. The news media is reporting: lower commodity prices, lower farm net income & lower cash rents than in 2016. All true. What is not being reported is the ultra-low supply of farmland for sale and the amount of pent up demand to buy farmland by farmers and investors. Demand to buy farmland is still very strong in 2017.

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Iowa Farmland Auction Results: Q1 2017

The results are in… Iowa’s average land auction price for Q1 2017 is $6,885 per acre, with highly tillable land selling at $7,925 per acre.

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Iowa Farmland Auction Results: Q4 2016

Iowa’s average land auction price for Q4 2016 is $7,614 per acre, with highly tillable land selling at $8,625 per acre.

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2016 Iowa Land Values

The results are in... Iowa’s average land value for 2016 is $7,041 per acre. When you break this down by land quality, here are the results:

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