As we approach the late-summer and early-fall harvest season, land sales activity is likely to pick up. The strongest values within the market continue to be for top-quality farms with the most productive soils, solid fertility and drainage, and high “farm-ability” (e.g., large and square fields, and not an abundance of point rows, waterways and obstructions). Farm sales located in neighborhoods with strong long-term farmland owners are outperforming those areas that lack local neighborhood strength. 

Farmland sales activity has declined slightly each year for the past five years. In those locales where multiple large sales have occurred, the potential for weakness is higher, as local capital has been drawn out of the market. A balance of current farmers, local farmland investors and non-local farmland investors has continued to show interest in purchasing land. The stabilization in the farmland market prices and the increase in interest from investors are in reaction to a search for solid investments, low-interest rates, and a general belief that farmland is a tangible asset and sound investment.

NORTHWEST
Sioux County: Southeast of Ireton, 40 acres sold at public auction for $13,000 per acre. The farm has 37.83 tillable acres and an 87.7 CSR2. Primary soil types are Galva, Primghar and Radford. Corn PLC yield was 174 bushels, and soybean yield was 52 bushels.

NORTH CENTRAL
Butler County: South of Bristow, 143 acres sold in two parcels. Parcel 1 (35 acres) sold for $5,300 per acre. The parcel has 34.5 crop acres with a 62.9 CSR2. The sale equals $85 per CSR2 point per crop acre. Parcel 2 (108 acres) sold for $4,100 per acre. The parcel consists of 85.41 crop acres with an average CSR2 of 56. The sale equals $93 per CSR2 point per crop acre.

NORTHEAST
Black Hawk County: Adjacent to Waterloo city limits, 148.96 acres sold at public auction for $8,991 per acre. The farm has an 89.9 CSR2. Buyer is an out-of-state investor.

WEST CENTRAL
Greene County: East of Ralston, 120 acres sold for $6,907 per acre. The parcel consists of 93.35 crop acres with an 87.6 CSR2. The sale equals $101 per CSR2 point per crop acre.

CENTRAL
Jasper County: Southeast of Lynnville, 154 acres sold in two parcels. Parcel 1 (54 acres) sold for $4,500 per acre. The parcel has 34 crop acres with a 70.9 CSR2. The sale equals $101 per CSR2 per crop acre. Parcel 2 (90 acres) sold for $8,700 per acre and has 88 crop acres with a 65.1 CSR2. The sale equals $137 per CSR2 per crop acre.

EAST CENTRAL

Iowa County: South of Victor, 45 acres sold for $7,600 per acre. The farm has 44.5 tillable acres with a 78.7 CSR2. The farm has strong eye appeal, a gentle topography and is located on a hard surface road. Seller was a farmer; buyer is a farmer-investor in the area.

SOUTHWEST
Pottawattamie County: Northeast of Carson, 104.01 acres sold at public auction for $6,900 per acre. The farm has 100.4 crop acres with a 73.7 CSR2. This equates to about $97 per CSR2 point per crop acre.

SOUTH CENTRAL
Lucas County: Northeast of Chariton, 120 acres sold for $2,400 per acre. The farm is a mix of timber, pasture, four ponds and 43 crop acres with a 31 CSR2.

SOUTHEAST
Washington County: West of Crawfordsville, 35 acres sold at public auction for $9,150 per acre. The farm has 33.3 tillable acres and an 83 CSR2. Seller was an estate.

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.