Photo Credit: Joe Murphy

Greetings!  Land auctions were up from last week.  There was a total of 1,475 acres offered at auction, and of those acres 1,225 were tillable.  I would describe the auction results as “steady”. There were two “no sales” last week.  On $/tillable CSR2 point, there were half sales that were above $100/tillable CSR2 point.  The range was from $75/tillable CSR2 point to $119/tillable CSR2 point.   A few of the highlights from last week:

• 160 acres sold in Hardin County, “the dirt dealer”, in two tracts
  • Tract 1 - 80 acres- sold $8,100/acre - CSR/CSR2 76/82
  • Tract 2 - 80 acres- sold $6,950/acre - CSR/CSR 73/78
• 80 acres sold in Hancock County for $8,900/acre - CSR/CSR2 83/87
• 124 acres sold in Keokuk County for $7,350/acre - CSR/CSR2 63/69
• 460 acres sold in Madison County in four tracts
  • Tract 1 - 149 acres sold $5,783/acre - CSR/CSR2 57/65
  • Tract 2 - 186 acres sold $6,459/acre - CSR/CSR2 61/71
  • Tract 3 - 82 acres sold $6,097/acre - CSR/CSR2 71/57
  • Tract 4 - 44 acres sold $4,828/acre (heavily wooded tract)
• 119 acres sold in Jasper County in two tracts
  • Tract 1 - 21 acres sold $7,700/acre - CSR/CSR2 95/94
  • Tract 2 - 98 acres sold $2,800/acre. (heavily wooded tract)
• 40 acres sold in Floyd County, “the dirt dealer”, $9,200/acre - CSR/CSR2 93/97
• 90 acres sold in Marion County in two tracts
  • Tract 1 - 47 acres sold $6,000/acre - CSR/CSR2 74/77
  • Tract 2 - 42 acres sold $5,400/acre - CSR/CSR2 71/78

According to Iowa State University’s Extension Economist, Wendong Zhang, land sales activity is at a six year low.  Recently published information shows that in 2012 public land auctions peaked and have steadily gone down, with surveyed data showing only 1,500 public land auctions in 2015.  Mr. Zhang indicates current sales volume indicates 2016 may match 2015.  Even with these statistics we have continued to see 'healthy' sales across the state due to the shortage of farms for sale. 

Check back next week for continued conversation on the auctions we’re seeing from around the state, and be sure to take a look at our September 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”