PRICE/ACRE UPDATE

The number of auctions was similar this last week as compared to previous weeks, remaining somewhat lower compared to previous years. There were 13 tracts of land sold at auction between March 18th and March 24th. During these auctions, there was a total of 1,370+/- acres available for purchase and of those acres, 1,038+/- were tillable acres.  Overall, the sale results were “good” with several “strong” sales. There was one tract that was a “no sale”.  The Price/Acre ranged from $4,700/acre for a tillable/pasture tract in central Iowa to $15,000/acre for a tillable tract in northwestern Iowa. The average Dollar ($) / Tillable CSR2 point for the tracts that successfully sold is $114/CSR2 point.  

A few of the highlights from last week:

• 120.8 acres of tillable land sold in Sioux County for $15,000/acre with a CSR2 of 96.4
• 112.8 acres of tillable land & pasture land sold in Poweshiek County for $4,700/acre with a CSR2 of 64.7 on the tillable land
• 38.9 acres of tillable land sold in Grundy County for $5,792/acre with a CSR2 of 66.8
• 97.7 acres of tillable land sold in Louisa County for $8,734/acre with a CSR2 of 89.6
• 80 acres of tillable land sold in Chickasaw County for $12,300/acre with a CSR2 of 86.9

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 February 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