Iowa Land Values Update - 2023 Quarter 1
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.
2023 Quarter 1 Auction Data:
Average $/Acre: $11,768
Average $/Tillable: $13,695
Average $/CSR2: $177
Auction prices in Iowa are overall remaining steady. Quarter 1 of 2023 saw 253 tracts or 25,247 acres sell, with an average dollar per acre of $11,768, average dollar per tillable of $13,695, and an average dollar per CSR2 of $177. This $/CSR2 average is down 3% from Q4 2022.
There was a slight drop in volume: Q4 2022 sold 357 tracts or 34,039 acres, while Q1 2023 sold 253 tracts or 25,247 acres. However, as compared to this time last year, volume was nearly identical: Q1 2022 sold 234 tracts or 25,503 acres.
Iowa is still seeing some strong sales: Plymouth County had two farms (76.71-acres and 75.99-acres) sell for $24,000 per acre each, and Lyon County had a 80.71-acre cropland farm with a CSR2 of 67.6 sell for $307/CSR2.
Click HERE to view the Land Auction Results for March 2023.
Below is a chart tracking the average dollar per CSR2 for the past five years.
Below is a map of the auction data for 2023 Quarter 1 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.
Peoples Company is licensed to appraise land in Arizona, Arkansas, California, Colorado, Florida, Idaho, Illinois, Indiana, Iowa, Michigan, Minnesota, Missouri, Montana, Nebraska, North Carolina, North Dakota, Ohio, Oregon, South Carolina, South Dakota, Tennessee, Texas, Washington, and Wisconsin.
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.
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