Wallaces Farmer

As farmers plant crops, the sale of farm ground is slowing and prices are flattening, yet parts of Iowa continue to show extremely high prices.

Doug Hensley

May 10, 2023

3 Min Read
planters in field
SELLING DELAY: Spring means a seasonal low in the number of farms selling until planting gets completed. Jennifer Carrico

As I write this article the first week of May, I look outside to a sunny day… but it’s 45 degrees F and windy. Not ideal spring growing conditions. In recent years, I cannot remember a more uneven start to the growing season. I know people who started planting with a warm stretch of air temps the second week of April and are now done planting; and I also know people who have not yet started planting because they did not believe soil temperatures were yet warm enough for them. I think we’re all ready for spring to come and stay — but as we all know, Mother Nature makes her own decisions.

Farmland sales have seasonally slowed, while farmers across the state and region shift focus to getting the crop in the ground. As the sales noted below demonstrate, most of the transactions we’ve handled and observed through the end of April have been traded at strong prices. There’s still a ton of cash sloshing around in the countryside, and demand for high-quality farms has been stable. Looking ahead to summer and fall sales, the outlook is slightly more uncertain. While old-crop grain is still very valuable with a strong basis in most Iowa regions, new-crop grain prices have weakened recently, and margins are tighter.

There will be more to discuss and write about once the growing season kicks into full gear. For now, know that spring land values have essentially been flat.

Land sales

Here are some recent sales found in counties across Iowa:

Lyon County. About 80 acres northwest of Inwood recently sold at public auction for $20,400 per acre. The farm consisted of about 79 tillable acres with a CSR2 (corn suitability rating) of 68.5, and equaled $301 per CSR2 point on the tillable acres.

Wright County. About 81 acres near Goldfield recently sold at public auction for $14,800 per acre. The farm consisted of about 80 tillable acres with a CSR2 of 82.8, and equaled $181 per CSR2 point on the tillable acres.

Chickasaw County. About 149 acres northwest of North Washington recently sold at public auction for $12,000 per acre. The farm consisted of about 144 tillable acres with a CSR2 of 84.2, and equaled $148 per CSR2 point on the tillable acres.

Ida County. About 148 acres northeast of Ida Grove recently sold at public auction for $13,500 per acre. The farm consisted of about 147 tillable acres with a CSR2 of 76.5, and equaled $178 per CSR2 point on the tillable acres.

Boone County. About 39 acres northeast of Woodward recently sold at public auction for $14,100 per acre. The farm consisted of about 35 tillable acres with a CSR2 of 84.8, and equaled $185 per CSR2 point on the tillable acres.

Johnson County. About 117 acres west of North Liberty recently sold for $16,600 per acre. The farm consisted of about 112 tillable acres with a CSR2 of 85.4, and equaled $203 per CSR2 point on the tillable acres.

Fremont County. About 79 acres south of Percival and west of I-29 recently sold at public auction for $9,100 per acre. The farm consisted of about 75 tillable acres with a CSR2 of 82.9, and equaled $116 per CSR2 point on the tillable acres. Note: This farm is located in the Missouri River bottom.

Wayne County. About 140 acres west of Allerton recently sold at public auction for $6,850 per acre. The farm consisted of about 129 tillable acres with a CSR2 of 53.9, and equaled $138 per CSR2 point on the tillable acres. Note: This was a mixed-use farm, as the tillable acres were being used in row crop production, hay production (about 17 acres) and Conservation Reserve Program (about 36 acres).

Washington County. About 47 acres south of Kalona recently sold at public auction for $13,300 per acre. The farm consisted of about 47 tillable acres with a CSR2 of 76.0, and equaled $175 per CSR2 point on the tillable acres.

Hertz Real Estate Services compiled this list, but not all sales were handled by Hertz. Call Hertz at 515-382-1500 or 800-593-5263; or visit hertz.ag.

About the Author(s)

Doug Hensley

Hertz Real Estate Services

Hensley is president of Hertz Real Estate Services. The Hertz Farm Management Co. was started in 1946, and now provides a full spectrum of services that includes professional farm management, real estate sales, auctions, acquisitions and farm appraisals.

Subscribe to receive top agriculture news
Be informed daily with these free e-newsletters

You May Also Like