Matt Vegter, Elliott Siefert and the REALTORS Land Institute Iowa Chapter have released the results of their March 2022 Land Trends Values Survey:
"The REALTORS® Land Institute - Iowa Chapter is pleased to announce the results of our March 2022 Land Trends and Values Survey. 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 March 1, 2022. 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.
"The results of the March survey show a 14.1% increase on a statewide average for the September 2021 to March 2022 time period. This is following the March 2021 to September 2021 time period that showed an 18.8% increase, giving us a 12-month increase of 32.9% for the State of Iowa. These results will come as no surprise, as record auction prices continue to be reported throughout many counties in Iowa. Pastureland (up 12.3%) and Timberland (up 11.2%) followed the same trend as Cropland acres with consistent gains across the state the last 6 months.
"Survey respondents indicated that commodity prices are currently the largest factor driving farmland values higher. Current interest rate levels and low supply of land being offered to the market were secondary factors adding strength. The survey found the current buyer pool for farmland is made up of approximately 65% Farmers, 19% Local Investors, and 16% Non-Local Investors.
"REALTORS® Land Institute – Iowa Chapter’s farmland value survey has been conducted in March and September since 1978. This survey plus the RLI Farm and Ranch Multiple Listing Service are activities of REALTORS® specializing in agricultural land brokerage daily."
Photo: REALTORS Land Institute Iowa Chapter
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