RLI Iowa Chapter Releases September 2023 Land Trends and Values Survey

The REALTORS® Land Institute - Iowa Chapter announced the results of its September 2023 Land Trends and Value Survey On Thursday. You can read the press release and survey results below.

FOR MORE INFORMATION CONTACT: Matt Vegter and Elliott Siefert 515-382-1500

The REALTORS® Land Institute - Iowa Chapter is pleased to announce the results of our September 2023 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 September 1, 2023. 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 September survey showed a minor decrease of -0.2% on a statewide average for the March 2023 to September 2023 time period. This is following the September 2022 to March 2023 time period that showed a 0.8% increase, giving us a year-over-year increase of 0.6% for the State of Iowa. After doubledigit increases through much of 2021 and 2022, the 2023 land market has confirmed its move toward leveling off. We continue to see a struggle between rising interest rates trying to pull the market lower while positive net farm incomes allow the market to remain supported at today’s values.

The range of survey results by Crop Reporting District is from down 2.9% in the Northwest District to the largest increase of 1.3% in the South Central District. Timber and Pasture acres showed slight gains with a 1.1% increase to Timberland values and a 1.4% increase in Pastureland values across the state.

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.

View a PDF of the survey results below.

Document: REALTORS® Land Institute – Iowa Chapter

Listen to our interview with Elliott Siefert from the REALTORS® Land Institute – Iowa Chapter during the noon hour on Thursday on our podcast!

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