2021 Land Prices - Forged in Farmland – Fueled with Emotion!
I have sold all kinds of assets throughout my career, and I still say that “There is more emotion in farmland than any other asset I have ever sold!” Farmland did not back down in 2021 and will continue with forward momentum in 2022. Iowa saw a significant increase in the number of acres sold this past year. Farmland values saw multiple auctions that set record prices in many counties. We continue to see a demand from both farmers and investors. Farmers had a blessing of good crops and significant incomes that came from 2021. If I had a crystal ball, I would look forward and tell you what land prices, interest rates, and the price of corn will be in 2022. You all know that I don’t have that crystal ball and as such we hedge on facts and data. The fact is that in 2021 we as an agricultural community showed the rest of the farming world that we would pay increasingly more for farmland than we have in the past. A perfect storm of factors brought us to that point. One farmland fact I know is that they are not making any more farmland and everyone I know with farmland wants more! 2021 Farmland Facts! 140,981 acres sold at auction in 2021 1126 separate auctions were held in 2021 Average price per acre averaged $10,997/ acre across all the land that sold in 2021 Average of $149/CSR2 in 2021 Land with CSR2 above 75 – Averaged 12,869/ acre Land with CSR2 between 50-75 - Averaged $8759/ acre Land with CSR2 lower than 50 – Averaged $6,820/ acre 18 farms sold for more than$20,000/ acre Sioux County had the most auctions (46) and also had the highest average/ acre ($17,850/ac) The most acres were sold in November, followed by December then September Farmland can be sold any time of year with success
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David & Ann Whitaker | Iowa Land Guy When you think of Farmland Think of US!