Published on Oct 12, 2021 by Ashley Poduska
Peoples Company tracks agricultural auctions across the state of Iowa. From this data, we calculate the average Dollar per CSR2 point ($/CSR2) for sales of tracts with greater than 85% tillable land. Additionally, these tracts are largely unimproved or include minimal improvement contribution.
There’s no doubt that auctions in Iowa have not slowed down. In Quarter 3, we saw 351 farmland tracts go to public auction, bringing an average dollar per gross acre of $11,060 and an average dollar per CSR2 of $156 ($/CSR2 calculated using only those farms offering greater than 85% tillable land.) This $/CSR2 average is down only $1.00/point from 2021 Q2, proving that farmland in Iowa had stayed strong over this past quarter.
Peoples Company sold 35 of those tracts at public auction, and brought an average dollar per acre of $11,546, and kept in line with $/CSR2 average of $156.
As can be seen on the graph, the blue line represents the quarterly average $/CSR2 point over the last five years. The bar chart tracks the number of auction sales that quarter.
Peoples Company is a leading provider of appraisal services for Agricultural Real Estate across the nation. Our appraisal team has the skill, experience, and resources to generate the most accurate valuations. Our proprietary database guarantees a level of financial integrity that your land deserves. Unlike most of our national competitors, Peoples Company’s appraisers are 100% dedicated to Agricultural Real Estate. Our agricultural experts regularly provide appraisal services to many of the largest lenders, private landowners, and institutional investors across the United States.
Peoples Company appraisers are involved in the Appraisal Institute and the American Society of Farm Managers and Rural Appraisers (ASFMRA) and adhere to the highest standards of the appraisal industry. Many of our appraisers have achieved the MAI and ARA designations.
Peoples Company is licensed to appraise land in Arizona, Arkansas, California, Colorado, Delaware, Florida, Georgia, Idaho, Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Missouri, Montana, Nebraska, North Carolina, North Dakota, Ohio, South Dakota, Tennessee, Texas, Washington, Wisconsin, and Wyoming.
Please contact Peoples Company at Appraisal@PeoplesCompany.com or 855.800.LAND(8263) to inquire about appraisal services offered. You can also visit https://peoplescompany.com/ to view our full range of professional services.