Farming with masks. | Adobe Stock
Farming with masks. | Adobe Stock
Iowa farmlands are increasing in value, a survey showed.
People have bought land at high prices during auctions.
“The value of Iowa cropland jumped nearly 19% between March and September of this year, according to the most recent survey of farmland professionals conducted by the Iowa Chapter of the Realtors Land Institute,” Esteban Moscariello wrote on Twitter.
The Iowa Chapter of the Realtors Land Institute surveyed by asking participants their opinions on the value of the current status of the Iowa farmland market, the Successful Farming reported.
“In March 2021, we had a lack of supply,” Matt Vegter, real estate salesman at Hertz Real Estate Services of Nevada, Iowa, and member of the Iowa chapter said, according to Successful Farming. “The last 30 days and the next 60 days, however, that has changed drastically. Many sellers are motivated to sell it and get the transaction closed by the end of the year.”
Iowa farmers are paying 19% more for their farmland since March.
The average value per acre was $10,221 in March, the Associate Press reported. As of Oct. 2, the state’s average value per acre was $12,182.
The year-over-year increase totaled 26.6% in Iowa.
The Iowa Chapter of Realtors Land Institute surveys its members twice a year.
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