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Iowa Farmland prices by county

Iowa Farmland Prices August 2016

This report on Iowa Farmland Prices from DreamDirt, a regular series of farmland values analysis in Iowa issued on a monthly basis is designed to help farmland owners, heirs, executors and other professionals understand the current climate and see the actual sales prices of farms in Iowa.  The report is the best available information collected from many auctioneers and real estate brokers from across the state.  You are encouraged to verify any information you intend to rely on for decision making purposes or employ the assistance of a professional to help you interpret the information if necessary.

Farmland Prices in Iowa Fall 2016

Author Jason Smith, CAI – Broker| Auctioneer  (641)670-7112

The month of August is a typically slow month in terms of sales volume in the farmland business.  August gives way to September which gives us more “knowns” in terms of tenancy arrangements between landlords and tenants.  I don’t have any numbers to support it but in my experience I believe a record number of farm leases were terminated by tenants across the state in an effort to renegotiate leases this year and I believe many tenants are ready to walk away from leases they can no longer afford.  With pressure from the bankers to bring balance sheets in check and the looming threat of 2017 operating loans being a much more difficult than in the last decade we are likely to see a reduction in farmland rents over the next year.  Leases being negotiated right now will be effective March 1, 2017.  Some of the leases I have renegotiated recently between landlord and tenant have fallen between $35 and $55 per acre.  With an estimated reduction in input costs of around $50 these farmers should be able to reduce operating costs by about $100 per acre.  At a current cash prices for corn and soybeans this is a welcome relief for many operators we have worked with.

Farmland prices in Iowa through August have continued their slow and steady decline on average however high quality farms or those with valuable attributes have continued to bring bids not far off of the record high farmland prices.  With interest rates still low and a fair amount of 1031 buyers in the market and very low volume of sales occurring this year competition for farms remains strong on good quality dirt.

Get the full August Report: Iowa Farmland Auction Results August 2016

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Iowa Farmland Prices August 2016 with sales statewide

County Date   Acres         Price     $/Acre CSR2 $/CSR2
Pocahontas County

8/18/16

77

$708,400

$9,200.00

82.7

$111.25 

Decatur County

8/2/16

27

$72,900

$2,700.00

38.9

$69.41 

Decatur County

8/2/16

40

$112,000

$2,800.00

27.9

$100.36 

Greene County

8/3/16

80

$716,000

$8,950.00

81.3

$110.09 

Boone County

8/10/16

80

$608,000

$7,600.00

84.9

$89.52 

Pocahontas County

8/17/16

154.69

$1,423,148

$9,200.00

84.4

$109.00 

Pocahontas County

8/17/16

200

$1,750,000

$8,750.00

84.3

$103.80 

Marion County

8/8/16

60

$690,000

$11,500.00

84.2

$136.58 

Van Buren County

8/19/16

27

$100,000

$3,703.70

23.1

$160.33 

Henry County 

8/19/16

30.85

$135,740

$4,400.00

58.3

$75.47 

Henry County

8/19/16

9.62

$70,000

$7,276.51

40.4

$180.11  

Lucas County

8/22/16

80

$200,000

$2,500.00

49.3    

$50.71 

Des Moines County

8/23/16

60.08

$516,688

$8,600.00

86.7

$99.19 

Des Moines County

8/23/16

49.23

$413,532

$8,400.00

76.3

$110.09 

Des Moines County

8/23/16

48.67

$408,828

$8,400.00

76.7

$109.52 

Des Moines County

8/23/16

7.12

$32,000

$4,494.38

59.3

$75.79 

Palo Alto County

8/24/16

80

$736,000

$9,200.00

85.6

$107.48 

Palo Alto County

8/24/16

64.7

$553,185

$8,550.00

82.5

$103.64 

Palo Alto County

8/24/16

184

$920,000

$5,000.00

64.6

$77.40 

Carroll &

Greene County

8/26/16

1,235

$10,445,500  

$8,457.89   

N/A   

N/A

Hamilton County

8/29/16

59.41

$417,652

$7,030.00

88.4

$79.52 

Lucas County

8/6/16   

35.51

$131,387

$3,700.00

48.6

$76.13 

Wayne County

8/6/16

30

$141,000

$4,700.00

56.1

$83.78 

Boone County

8/24/16

113

$870,100

$7,700.00

83.8

$91.89 

Cerro Gordo County 

8/22/16

75

$451,875

$6,025.00

58.5

$102.99 

Cerro Gordo County

8/22/16

80

$640,000

$8,000.00

63.1

$126.78 

Cerro Gordo County

8/22/16

160

$1,200,000

$7,500.00

63.1

$118.86 

Monona County

8/29/16

250.68

$814,710

$3,250.00

42.2

$77.01 

Monona County

8/29/16

152.84

$626,644

$4,100.00

59.6

$68.79 

Hancock County

8/17/16

280

$1,750,000

$6,250.00

76.2

$82.02 

Hancock County

8/17/16

35

$220,500

$6,300.00

60.1

$104.83 

Hancock County

8/17/16

152

$608,000

$4,000.00

67.7

$59.08 

 

Jason Smith is a professional auctioneer and farmland broker in Iowa who often writes about Iowa Farmland Prices.  As the real estate broker at DreamDirt Farm and Ranch Real Estate he leads the farmland sales team and support staff which is spread across the entire state.  You can reach Jason at 641-670-7112 or by email jason@dreamdirt.com

We can provide you a free valuation of your farm if you are considering selling farmland in Iowa.  You can give me a call to visit about the farm or click SELL above to send the information to me