Iowa, Illinois, Nebraska farmland sale prices rising closer to record

(Omaha, NE) -- Iowa cropland prices have risen 13-percent since January according to Farmers National Company of Omaha. Illinois prices are up 10-percent.

“We are seeing $13,000, $14,000 and $15,000 per acre sales for good cropland at our recent auctions. Medium quality farms are also selling well now which is a change from the past few years,” according to David Whitaker, area sales manager. He says higher grain prices and strong buyer demand are pushing up prices closer to the peak levels of 2014. The inventory for farms for sale is at a low point according to Farmers National and buyers have been aggressively buying what has been listed. Whitaker says potential changes in tax policy could prompt more sales this year.

Buyers are also pushing up land prices in the Central and Southern Plains, including Nebraska, where land prices are up 10-to-12 percent for good cropland.

“There is now more demand for average to lower quality land than there has been for a number of years,” said Paul Schadegg, area sales manager.

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