As we reach the midpoint of the year, it’s a good time to review the current state of the Iowa farmland market. The latest data through July 2024 offers valuable insight into land values and auction activity across the state. Below is a clear breakdown of the key trends.
1. Land Values Across Iowa
The first chart highlights land values across Iowa’s nine crop reporting districts from March to August 2024. It tracks both price per acre and price per CSR2. These numbers show the high, medium, and low values for each region, giving a complete snapshot of the statewide market.
- Northwest Iowa continues to lead the state. High-quality farms reach $15,813 per acre and $212 per CSR2. This region consistently tops the charts due to strong soils and intense demand.
- Central Iowa also shows strong performance. High sales reach $14,800 per acre, although values vary widely. This mix reflects both prime tracts and lower-quality acres coming to market.
- South Central Iowa, however, reports some of the lowest prices. Sales dip to $4,458 per acre, likely due to lighter soils and less competitive buyer demand. This region’s variation highlights how land quality shapes value.
2. Market Trends Over Time
The second and third charts give a month-by-month and year-over-year view of the market.
- Price Stability and Fluctuations: The monthly bar chart shows a mostly steady market. Prices climbed in May, averaging just over $12,000 per acre, before easing slightly in June and July.
- Trend Analysis: The year-over-year line graph shows a mild downward trend in the highest sale prices from July 2023 to July 2024. However, median prices remain stable. Most months fall between $9,000 and $12,000 per acre, signaling steady demand for average-quality farmland.
Conclusion
The July 2024 data shows a stable but slightly softer Iowa farmland market. Premium regions hold strong, while other areas continue to see wider pricing spreads. As we move through the rest of the year, watching these trends will be essential for understanding where the market is headed.
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Iowa Land Values by CSR Score: Green= 75-100CSR Tan=50-75CSR Orange= less than 50CSR
Farmland in Iowa by Acres Sold
Farmland Values in Iowa across the state
