PRICE/ACRE UPDATE

There were 18+ tracts of land sold at auction between March 7th and March 15th.  During these auctions, there was a total of 2,065 +/- acres available for purchase and of those acres, 1,729 +/- were tillable acres.  The Price/Acre ranges from $3,000/acre for tillable/pasture/timber land in Western Iowa to $13,800/acre for tillable land in Northwest Iowa.   

A few of the highlights from last week:

• 96.09 acres sold in Sioux County for $13,800/acre with a CSR2 of 90
• 80 acres sold in Plymouth County for $13,770/acre with a CSR2 of 86
• 75.97 acres sold in Sioux County for $13,750/acre with a CSR2 of 90.3
• 64.62 acres sold in Plymouth County for $13,260/acre with a CSR2 of 83.7

The most active area consisted of West to Northwest Iowa where there were several hundred acres sold at auction. These acres were all successfully sold.

Updated farmland numbers from RLI Iowa's Spring meeting showing a statewide increase of 0.9% for tillable values since September 2016.

"The nine Iowa crop reporting districts showed a mix of increases and decreases in value. The districts varied from a 3.2% increase in NW district to a 3.0% decrease in SW district since September 2016."

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