Greetings! Last week was a fairly active week for land auctions in Iowa. There were a total of 3,167 gross acres offered at auction. Of those acres, 2,273 were tillable acres. I would describe last week’s auction prices as stable for cropland and strong for pasture land. A few of the highlights: A 143-acre tract in Poweshiek County sold for $10,600/acre, 116 acres in Sac County sold for $9,200/acre and 80 acres in Greene County sold for $9,400/acre.

A pasture farm in Taylor County sold in two tracts – 158 acres and 195 acres sold for $3,350/acre $3,400/acre, respectively. A pasture/CRP farm sold in Wapello County for $2,500/acre. There were three auctions that were “no sales” in Howard, Fremont and Harrison Counties. These farms are still for sale.

It appears farms with good pasture, fences, and water sale very well. Especially in areas that have limited pasture farms. Several real estate agents commented on the size of the crowds showing up for auctions. I am starting to hear a rumor that the Federal Reserve may raise interest rates. However, that is not the first time we have heard that.

Check back next week for new dirt on Iowa land auction prices. Meanwhile, please check out ourNovember auction results and be sure and hit “like” on the Peoples Company Facebook page.

Talk to you soon!

Thanks.

Jim Rothermich
Certified General Appraiser
Peoples Company Appraisal Team