Land Sale of the Week: $14,500 in Southeast Iowa

September 11, 2014 05:54 AM
 
Land Sale of the Week: $14,500 in Southeast Iowa

 

Mike Walsten

The Iowa land market continues to offer up surprises. The most recent surprise came Wednesday September 10 as 81 acres in Washington County passed under the gavel for a strong $14,500 an acre. The farm is located about 6 miles northwest of Washington in a highly productive area of the county where terrain is level and soils are highly productive. The farm's CSR is 88.4, very high compared to the county average of 66.5. The CSR2 is 86.4. It offered 79 tillable acres.

While Iowa farmland values have been soft generally since last summer, values have firmed since the first two months of 2014. Prices this summer have been variable with some auctions resulting in soft prices. But then the occasional auction occurs with a strong price -- at levels competing with prices seen in late 2012 and early 2013. But those are fewer in number and occur only when the property offered is very high quality in an area that has not seen much turnover in land sales in the past few years. That was the case here.

Matthey A. Clarahan, AFM, Hertz Real Estate Services, Mount Vernon 319-895-8858 handled the auction.

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