September 2021 Wallace’s Farmer “MarketPlace Extra”

Doug Hensley, Hertz Real Estate Services

2021 has been an incredible year in the Iowa farmland market.  Ask anyone who has been paying attention since planting season, and one thing that is clear – land values have shifted higher since spring.  The shift has been led by strong grain prices, the expectation for very solid farm profits, and still low interest rates.  Early 2021 land value surveys/reports were not keeping up with the pace of change, so it will be interesting to see the forthcoming fall and early winter reports.  I believe we’ve already eclipsed the previous market highs from 2013 and 2014, although the market is not perfectly uniform, as the sales below reflect.  However, all land classes appear stronger – and I’m not sure we’ve seen the new highs yet. Stay tuned!

NORTHWEST

Cherokee County:

156 +/- acres, located northwest of Cherokee, recently sold at public auction for $14,200 per acre. The farm consisted of 146 +/- tillable acres with a CSR2 of 90.6, and equaled $167/CSR2 point on the tillable acres.

NORTH CENTRAL

Wright County:

120 +/- acres, located near Kanawha, recently sold at public auction for $9,300 per acre. The farm consisted of 114 +/- tillable acres with a CSR2 of 54.3, and equaled $180/CSR2 point on the tillable acres.

NORTHEAST

Winneshiek County:

146 +/- acres, located near Decorah, recently sold at public auction for $10,600 per acre. The farm consisted of 128 +/- tillable acres with a CSR2 of 69.5, and equaled $174/CSR2 point on the tillable acres. Note: The balance of acres in this property were timber/waste.

WEST CENTRAL

Sac County:

87 +/- acres, located near Nemaha, recently sold at public auction for $12,400 per acre. The farm consisted of 83 +/- tillable acres with a CSR2 of 83.9, and equaled $155/CSR2 point on the tillable acres.

CENTRAL

Polk County:

75 +/- acres, located northeast of Bondurant, recently sold at public auction for $9,000 per acre. The farm consisted of 71 +/- tillable acres with a CSR2 of 62.0, and equaled $153/CSR2 point on the tillable acres.

EAST CENTRAL

Jackson County:

202 +/- acres, located east of St. Donatus, recently sold for $5,500 per acre. The farm consisted of 121 +/- tillable acres with a CSR2 of 46.4, with the balance of the farm in timber and pasture.

SOUTHWEST

Pottawattamie County:

29 +/- acres, located near Oakland, recently sold at public auction for $8,100 per acre. The farm consisted of 27 +/- tillable acres with a CSR2 of 70.2, and equaled $124/CSR2 point on the tillable acres.

SOUTH CENTRAL

Warren County:                                                                            

60 +/- acres, located east of Indianola, recently sold for $7,000 per acre. The farm consisted of 41 +/- tillable acres with a CSR2 of 81.2, and equaled $126/CSR2 point on the tillable acres. Note: The balance of acres in this property were timber and a small pond.

SOUTHEAST

Mahaska County:

75 +/- acres, located southeast of Barnes City, recently sold at public auction for $11,900 per acre. The farm consisted of 75 +/- tillable acres, with a CSR2 of 85.1, and equaled $140/CSR2 point on the tillable acres.

Hertz Real Estate Services compiled this list, but not all sales were handled by Hertz. Call Hertz at 515-382-1500/800-593-5263 or visit www.Hertz.ag.