PRICE/ACRE UPDATE

There were 13+ tracts of land sold at auction between February 20th and February 24th.  This was a lighter week for land auctions. During these auctions, there was a total of 1,392 +/- acres available for purchase and of those acres, 1,196 +/- were tillable acres.  The Price/Acre ranges from $2,575/acre for tillable/pasture land in Southern Iowa to $9,400/acre for tillable land in Northwest Iowa.   

A few of the highlights from last week:

• 159.25 acres sold in Lyon County for $9,400/acre with a CSR2 of 56.5
• 110.58 acres sold in Shelby County for $7,750/acre with a CSR2 of 71.8
• 63.8 acres sold in Harrison County for $7,100/acre with a CSR2 of 84

The most active area consisted of Monona County where there were 291 +/- acres sold at auction. These acres were all successfully sold. Overall, the land market appears to continue to move “sideways” with a few higher dollar sales still occurring.

Hope you were able to stop by and visit us at the Iowa Deer Classic this weekend!  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 January Auction Results.  Please make sure and hit the “like” button on Facebook and follow us on Twitter @PeoplesCompany.

Thank You!

The Peoples Company Appraisal Team