Published on Jul 6, 2022 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.
2022 Quarter 2 Auction Data:
Tracts Sold: 296
Average $/Acre: $12,554
Average $/Tillable Acre: $14,660
Average $/CSR2: $188
Prices and auction volume were still on the rise in Q2 2022. We saw 296 tracts sell in Iowa this quarter – that’s over twice as many tracts as compared to Q2 2021. The average $/CSR2 is up 8% from Q1 2022, 20% from Q2 2021, and up 55% from Q2 2017.
The high dollar per acre sale in Quarter 2 was a Dubuque County 59.32-acre cropland farm which brought $30,000 per acre or $270/CSR2. The high dollar per CSR2 sale went to a Jackson County 151-acre farm that sold for $16,000 per acre or $16,956 per tillable acre with a CSR2 of 54.78, bringing a whopping $310/CSR2.
The Appraisal Team at Peoples Company is currently tracking over 80 farms up for auction through mid-August, so it will be interesting to see what the upcoming months bring us in terms of prices and volume of Iowa auctions. Be sure to stay tuned to Peoples Company to stay up to date with the land market.
Below is a map of the auction data for 2022 Quarter 2 in Iowa.
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.
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