2022 Year in Review
Wow, what a year!
Results from the 1250 Auctions (141,965 acres) this last year have the average for the state at $12,020/acre, high-quality ground at $14,705/ acre, and medium-quality ground averaging $9,521/ acre. Low-quality ground has remained steady at an average of $5,876/ acre.
Farmland By The Facts:
2021 to 2022 1% increase in acres to market at auction. 9.3% increase to the average price per acre.
2020 to 2022 72.67% increase in acres to market at auction. 58% increase to the average price per acre.
All Iowa Land Sales Data: (Note: Data excludes any land sale less than $2000/acre and any land sale above $30,100/acre). Results from the 5,575 Sales Transactions (516,189 acres) this last year have the average for the state at $9,537/acre.
2021 to 2022 35% decrease in acres to market (All Sales) 15.85% increase to the average price per acre
2020 to 2022 5% decrease in acres to market (All Sales) 33.25% increase to the average price per acre
Relator Land Institute Iowa shows a 16.9% increase (2021-2022 opinion survey). Iowa State University shows a 17% increase (2021-2022 opinion survey).
Positive Factors Driving Farmland: Good yields, commodity prices, net farm income, equity in the existing land, and a great investment.
Negative Factors Driving Farmland: Interest rates are still on the rise, 2023 input prices, margin compression, increased volume of farms offered to the public market, drought, supply chain, and forging conflicts.
Farmland prices are still at a historical all time high, although interest rates are on the rise the rates are still historically low. My predictions for 2023 are that farmland will remain steady, and the number of acres brought to market will be fewer. We will see new types of buyers entering the farmland landscape. The seller’s expectations will forever be high, and they will be cautious to sell in a softening market. We will be keeping an eye on the carbon market, commodity prices, input costs, net farm income, and foreign conflict. I can tell you this, good quality ground sells good, medium quality ground sells medium, and lower quality ground warrants a lower price. I can also tell you that all landowners have one thing in common…. they would like to own more.
We would like to thank all the customers that trusted Whitaker Marketing Group in 2022. We look forward to assisting and being your trusted advisor in 2023 and years to come. Our Mission; Is to be your “Trusted Advisors”, Our obligation; is to market your farmland to the largest audience yielding you the most successful outcome! David & Ann Whitaker | Iowa Land Guy When you think of Farmland Think of US!