December 2024 Farmland Market Trends | Stability & Growth Opportunities | Whitaker Marketing Group
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December 2024 Land Market Update – Trends for Late 2024!

🌾 December 2024 Farmland Market Update 🌾

As 2024 came to a close, the Iowa farmland market demonstrated remarkable resilience and stability. Despite a few regional shifts, the market remained steady, offering opportunities for both buyers and sellers. Here’s a closer look at how values changed and what these trends mean for the agricultural real estate market.

High-End Prices: Slight Declines Per Acre

High-end farmland values dipped slightly across most regions, with decreases ranging from -$73/acre to -$440/acre. This modest softening indicates a cooling at the top of the market but still reflects strong overall demand for premium land. For example:

  • Northwest Iowa: High-end prices dropped by $440/acre, balancing out after a strong November.

  • East Central Iowa: Saw a minor decline of $327/acre, still maintaining its reputation for top-tier land.

These adjustments suggest that buyers are becoming more selective with their investments at the highest price points, yet they remain committed to acquiring quality farmland.

Median Prices: Steady or Increasing

Median farmland values provided a more optimistic view of the market, with many regions showing stability or growth:

  • East Central Iowa: Led the pack with a notable increase of +$703/acre, highlighting the strong demand for its productive farmland.

  • Northwest Iowa: Median prices climbed by +$631/acre, reinforcing the region’s position as a reliable area for mid-tier transactions.

These trends reflect consistent interest in well-priced farmland that balances productivity with affordability, catering to a broad spectrum of buyers.

Low-End Prices: Mixed Movements

At the lower end of the market, prices were more unpredictable, with significant regional variability:

  • North Central Iowa: Experienced a sharp drop of -$3,262/acre, likely tied to the sale of marginal land or specific local conditions.

  • Northeast Iowa: Showed an impressive gain of +$2,062/acre, indicating rising interest in more affordable parcels within this region.

These fluctuations often depend on the quality and location of the land being sold, as well as buyer-specific needs and intentions.

Key Regional Highlights

  • East Central Iowa: The star performer, with median prices rising by +$703/acre and steady high-end demand for its productive farmland.

  • Northwest Iowa: A reliable market, showing growth in median prices (+$631/acre) despite a slight dip at the high end.

  • Northeast Iowa: Gains in low-end prices (+$2,062/acre) suggest strong interest in more affordable land.

  • North Central Iowa: The sharpest decline in low-end prices (-$3,262/acre) highlights the challenges tied to marginal land in the area.

For a detailed breakdown of regional pricing and auction activity, check out the graphs below. 👇

David & Ann Whitaker | Iowa Land Guy When you think of Farmland Think of US!

The image shows a bar chart with orange bars representing monthly revenue data from December to November. The revenue values range from $0 to $14,000, with a dotted black line indicating a target revenue level of $12,000. The logo of "Whitaker Marketing Group - Auctions & Real Estate" is faintly overlaid behind the bars, slightly obscured by the chart elements. The background is clean with clear axis labels and a focus on the revenue data.
This bar chart compares the number of auctions conducted each month in 2023 (orange bars) versus 2024 (green bars). The x-axis represents months from January to December, and the y-axis represents the number of auctions, ranging from 0 to 300. Key highlights include a significant increase in December 2024 (258 auctions compared to 93 in 2023), and other fluctuations across months, such as March (142 in 2023, 98 in 2024). The "Whitaker Marketing Group" logo is faintly overlaid in the background, adding a branded touch.
This image is a map of Iowa divided into crop reporting districts, displaying land value trends from July to December 2024. Each district lists data in three tiers: high, medium, and low values for both dollars per acre ($/ACRE) and dollars per CSR2 score ($/CSR2). For example, the Northwest district shows a high of $15,111/ACRE and $169/CSR2, while the Southeast district shows a high of $13,165/ACRE and $160/CSR2. Data is color-coded: green for high, beige for medium, and orange for low values. The map is overlaid on a soil-textured background, and branding from Whitaker Marketing Group appears at the bottom.
Iowa land trends by crop reporting district from May 24 to October 24, showing high, medium, and low prices per acre and CSR2 ratings across various regions including Northwest, North Central, and Southeast.