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Your Precious Land

RSS By: Mike Walsten, Pro Farmer

Mike Walsten has covered major business trends in agriculture for more than 40 years.

Iowa Survey: Land Values Decline 7.6% Since September

Mar 10, 2009

Mike Walsten

The value of an acre of Iowa farmland fell by 7.6% during the six-month period ending March 1. That's according to the most recent survey of Iowa farmland values conducted by the Iowa Farm and Land Chapter #2 of the REALTORS Land Institute (RLI). "This is the first decrease shown by our survey since September 1999," said Troy Louwagie, Hertz Real Estate Services, Mt. Vernon, who leads the twice-a-year survey for the RLI.

In September, the RLI survey reported a 6.6% increase in land values for the March-to-September period. Combining the 7.6% decrease with the 6.6% increase reported in September 2008 indicates a statewide average decrease of 1.0% for the year from March 1, 2008 to March 1, 2009," said Louwagie.

All nine Iowa crop reporting districts showed a decrease, the survey said. These district declines varied from a 2.5% decrease in Southeast Iowa to a 14% decrease in West Central Iowa for the September 2008 to March 2009 period.

The Iowa RLI has conducted the March and September farmland surveys since 1978.

I will cover more details of the survey in the March 12 issue of LandOwner newsletter. If interested in seeing a copy, just drop me an email at landowner@profarmer.com or call me at 800-772-0023.

 

 

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COMMENTS (2 Comments)

Anonymous
ITS wasy to early to say its a trend, IN FACT prices may seem cheap, after all paid for farm ground has now proven to give the best long term steady return over the last 10, 7, or even 5 years, and after all the dust settels, you still have LAND beating most blue chip stocks.
the recent spike in farm rents may very well have seen their glory days, but 50/50 farming may stimulate the speculators need for action.
3:04 PM Mar 12th
 
Anonymous
i also own land that is for sale in northeast iowa, we have been hearing reports that are all over the board as far as prices. but the good tillable land is still in tight hands. Land is not moving well here, prices are firm and buyers are cautious. It is very hard to determine a trend here.
5:59 PM Mar 10th
 

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