The Realtors Land Institute - Iowa Chapter is announcing the September 2019 Land Trends and Values Survey. The results of these surveys show a statewide average increase of cropland values of 0.8% for the March 2019 to September 2019 period. Combining this increase with the 1.0% decrease reported in March 2019 indicates a statewide average decrease of 0.2% from September 1, 2018 to September 1, 2019. Crop reporting districts showed variability regarding the average farmland value. The districts varied from 1.8% increase in the North Central and East Central districts to a 1.2% decrease in the Northwest district since March 2019.
Major factors supporting to current farmland values continue to include limited amount of land on the market, government compensation, MFP and low interest rates. Negative factors include trade uncertainty, decreasing levels of working capital, variability in yields for the 2019 crop year, and weather patterns.
REALTORS® Land Institute is an affiliate of the National Association of REALTORS® and is organized for REALTORS® who specialize in farm and land sales, management, development and appraisal. Participants in the survey are specialists in farmland and are asked for their opinions about the current status of the Iowa farmland market. Participants were asked to estimate the average value of farmland as of September 1, 2019. 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.
High Quality Crop Land Medium Quality Crop Land Low Quality Crop Land Non - Tillable Pasture Per Acre Timber Per Acre Percent change past 6 months
September March September March September March September March September March
Central 9,773 9,595 7,057 7,100 4,656 4,658 2,939 2,870 2,531 2,562 0.6%
East Central 10,290 10,081 7,529 7,359 4,708 4,694 2,713 2,679 2,368 2,308 1.8%
North Central 9,091 8,950 7,050 6,913 4,643 4,562 2,450 2,384 2,113 2,104 1.8%
Northeast 9,570 9,378 7,232 7,203 4,600 4,661 3,050 3,045 2,927 2,835 0.8%
Northwest 10,713 10,992 8,219 8,245 5,272 5,264 2,729 2,809 2,421 2,421 -1.2%
South Central 6,915 7,099 4,585 4,598 3,098 3,030 2,706 2,718 2,964 2,986 -0.9%
Southeast 9,907 9,782 6,748 6,534 3,959 4,006 2,882 2,808 2,483 2,400 1.4%
Southwest 7,861 7,661 6,306 6,089 4,342 4,494 3,194 3,117 2,506 2,425 1.5%
West Central 9,028 8,933 7,022 6,989 4,750 4,675 2,817 2,822 2,270 2,270 1.0%
State 9,239 9,163 6,861 6,781 4,448 4,449 2,831 2,806 2,509 2,479 0.8%