Your Precious Land
Mike Walsten has covered major business trends in agriculture for more than 40 years.
Now It's $16,750/Acre in Northwest Iowa!
Oct 13, 2011
The Iowa farmland market continues to post record highs for quality land. The latest is a price of $16,750 an acre for 120 acres in Sioux County. The 160-acre farm involved is located just northwest of Hull, which is north of Sioux Center. The Oct. 4 auction featured two tracts. Tract 1, 120 gross acres with 116.5 tillable acres, carried a Corn Suitability Rating (CSR) of 70 versus a county average of 64.8. That tract brought a total of $2,010,000, according to auctioneer Del Beyer of Beyer Auction & Realty, Sioux Center, who handled the auction along with realtor Ben Jans of Jans Real Estate, Inc., also of Sioux Center. As far as LandOwner can tell, this is a record high for the state. Tract 2, 40.67 gross acres and 40.3 tillable acres with a CSR of 68, brought $13,100 per acre. Buyers and contending bidders are area farmers, Beyer says.
That record took out what appeared to be the previous record of $15,368/acre set Sept. 27. That sealed-bid auction, conducted by August Luthens of Luthens Law Office, Colfax, featured 77.5 acres of bare land located near Leighton, southeast of Pella in Mahaska County. The CSR on that ground is 81 versus a county average of 68.2. Again, the buyer and contending bidders were area farmers.
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