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2
Iowa Cropland Values Remain Consistent
The Land Trends and Value Survey, presented by the Iowa Farm and Land Chapter #2 REALTORS Land Institute, reported no increase or decrease in cropland values on a statewide average for the March 2020 to September 2020 period. Combining this stable period with the 0.1% increase reported in March 2020 indicates a statewide average increase of 0.1% from September 1, 2019 to September 1, 2020.
In our East Central district, high quality cropland is selling at $10,355 per acre, or at the second highest rate in the state. This is up slightly from the value reported in March, 2020. Timber is selling at an average of $2,627 per acre. "Low interest rates and the resurgence of investor buyers have helped maintain land values. A good harvest and some strength in the commodity prices would only help to further strengthen the land market," said Eric Schlutz, ALC, Realtor, and manager of the Ruhl&Ruhl Realtors Muscatine Office.
"Our land markets continue to show resilience and stability in values during a time of generally low commodity prices. Historically low interest rates, good buying demand by both farmers and investors, as well as a lack of inventory of available land for sale have all contributed to this stability," said Dennis Stolk, ALC, farm and land specialist with Ruhl Farm & Land. For the survey, participants are asked to estimate the average value of farmland as of September 1, 2020. These estimates are for bare, unimproved land with a sale price on a cash basis. Pasture and timberland values were also requested as supplemental information. Ruhl Farm&Land, a division of Ruhl&Ruhl Realtors, is focused on the sale, purchase and marketing of land, farms and acreages.
| High-Quality Crop Land | Medium-Quality Crop Land | Low-Quality Crop Land | % Change in Tillable Cropland | Non-Tillable Pasture | Timber Per Acre | |
| East Central | 10,355/acre | 7,617/acre | 4,819/acre | +1.0% | 2,934/acre | 2,627/acre |
| Northeast | 9,296 | 7,215 | 4,867 | -1.1% | 2,928 | 2,978 |
| Southeast | 10,062 | 6,733 | 4,536 | -0.6% | 3,031 | 2,488 |
