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    farmland prices in iowa

    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%