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Iowa Farmland Prices 2013: Realtors Land Institute Report

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The Iowa Chapter #2 of the Realtors Land Institute has released the Iowa Farmland Prices 2013 Spring report.  This is the first of 2 reports the organization of which I am a member releases each year.  Its worth noting these figures are derived from estimates, not necessarily sale results.  That said the estimates are made by farmland sales professionals all around the state that have the benefit of being involved in sales of farmland.

I’ll break the report down by area of the state, quality of farmland and farmlands percent change in value from the September 2012 report.

High Quality Iowa Farmland Prices

Region September 2012 March 2013
Central Iowa $10,893 $11,985
East Central Iowa $10,456 $11,469
North Central Iowa $10,338 $11,453
Northeast Iowa $11,216 $12,661
Northwest Iowa $12,287 $13,387
South Central Iowa $7,661 $8,480
Southeast Iowa $10,042 $11,029
Southwest Iowa $10,306 $10,875
West Central Iowa $11,521 $12,300
Statewide $10,524 $11,515

Medium Quality Iowa Farmland Prices

Region September 2012 March 2013
Central Iowa $8,297 $8,753
East Central Iowa $7,649 $8,478
North Central Iowa $8,589 $9,305
Northeast Iowa $8,704 $9,738
Northwest Iowa $9,655 $10,555
South Central Iowa $5,131 $5,785
Southeast Iowa $6,990 $7,763
Southwest Iowa $7,594 $8,156
West Central Iowa $9,096 $9,708
Statewide $7,967 $8,693

Low Quality Iowa Farmland Prices

Region September 2012 March 2013
Central Iowa $5,701 $6,267
East Central Iowa $5,058 $5,614
North Central Iowa $6,392 $6,907
Northeast Iowa $5,696 $6,453
Northwest Iowa $6,664 $7,302
South Central Iowa $3,210 $3,520
Southeast Iowa $3,992 $4,321
Southwest Iowa $4,963 $5,569
West Central Iowa $6,395 $6,823
Statewide $5,341 $5,864

Non-Tillable Iowa Farmland Prices (Pasture)

Region September 2012 March 2013
Central Iowa $2557 $2707
East Central Iowa $2848 $3205
North Central Iowa $2485 $2611
Northeast Iowa $2604 $2823
Northwest Iowa $2643 $2804
South Central Iowa $2186 $2233
Southeast Iowa $2014 $2200
Southwest Iowa $2807 $3264
West Central Iowa $2717 $2833
Statewide $2540 $2742

Timbered Farmland Prices

Region September 2012 March 2013
Central Iowa $2,015 $2,139
East Central Iowa $2,260 $2,410
North Central Iowa $2,183 $2,283
Northeast Iowa $2,279 $2,366
Northwest Iowa $2,418 $2,436
South Central Iowa $2,009 $2,138
Southeast Iowa $1,770 $1,880
Southwest Iowa $1,764 $1,943
West Central Iowa $2,105 $2,110
Statewide $2,089 $2,189

Percent Change From September 2012 to March 2013

Region Percent Change
Central Iowa + 8.5%
East Central Iowa + 10.4%
North Central Iowa + 9.3%
Northeast Iowa + 12.6%
Northwest Iowa + 9.2%
South Central Iowa + 11.1%
Southeast Iowa + 9.9%
Southwest Iowa + 7.6%
West Central Iowa + 6.7%
Statewide + 9.4%