Dirt Talk Weekly: Iowa Land Auction Prices, August 26 - September 1, 2016

Posted by Jim Rothermich | Published September 6, 2016

Dirt Talk Weekly: Iowa Land Auction Prices, August 26 - September 1, 2016

Greetings!  This week was active with land auctions. There was a total of 2,662 acres offered at auction, of those acres, there were 2,224 tillable acres.  I would describe the auction results for the most part as strong, but there were a couple of sales I thought were light. There were no “no sales”.  All farms sold.  A few of the highlights from last week:

  • 400 acres sold in Sac County in 3 tracts 
    • Tract 1 - 80 acres $9,850/acre - CSR/CSR2 66/88
    • Tract 2 - 160 acres $8,500/acre - CSR/CSR2 64/82
    • Tract 3 - 160 acres $8,650/acre - CSR/CSR2 63/81
  • 1,235 acres sold in Greene & Carroll County in 9 tracts
    • Tract 1 - 129 acres $9,000/acre - CSR/CSR2- 84/88
    • Tract 2 - 107 acres $8,600/acre
    • Tracts 3 & 4 -295 acres $6,000/acre - CSR/CSR2 74/76
    • Tract 5 - 234 acres $7,500/acre - CSR/CSR2 80/85
    • Tract 6 - 156 acres $12,700/acre - CSR/CSR2 79/85
    • Tract 7 - 4.5 acres lump sum $156,000
    • Tract 8 - 160 acres $7,550/acre - CSR/CSR2 73/78
    • Tract 9 - $10,000/acre - CSR/CSR2 81/84
  • 252 acres sold in Poweshiek County for $6,950/acre - CSR/CSR2 73/78
  • 404 acres sold in Monona County in two tracts
    • Tract 1 - 251 acres $3,250/acre (mostly pasture)
    • Tract 2 - 153 acres $4,100/acre (mostly pasture)
  • 59 acres sold in Hamilton County for $7,030/acre (includes a 2% buyer’s premium) CSR/CSR2 79/88
  • 156 acres sold in Buena Vista County for $6,600/acre -  CSR/CSR2 78/95
  • 160 acres sold in Davis County in 3 tracts
    • Tract 1 - 80 acres $5,800/acre - CSR/CSR2 47/51
    • Tract 2 - 35 acres $4,600/acre - CSR/CSR2 41/47
    • Tract 3 - $4,800/acre 45 acres - CSR/CSR2 40/46

This week was a very good week to test the land market in Iowa.  It appears quality cropland continues to sell very well and combination crop/pasture farms sell very well too.  Yes, there were a couple of tracts I considered light but there were a couple of tracts I considered very strong.  Still seeing farmers driving the market with very few investors getting anything bought.  It appears farmers are willing to pay up for quality.   I’m continuing to hear from farm managers that some tenants are terminating their leases with landlords, and agents are expecting to see a fairly active fall for land auctions.  Next week there appears to be 1,300 acres offered at auction throughout the state.

Check back in next week to see what has been happening with auctions from around the state, and be sure to check out our July auction results.  Please make sure and hit the “like” button on Facebook and follow us on Twitter @PeoplesCompany and @TheLandTalker. 

“That is my story & I’m sticking to it”.  

Thanks, Jim “the Land Talker”

 

Posted In Agribusiness, Cash Rents, Land Appraisal, Land Auctions, Land Investing, Land Sales, Land Values




 

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