12 Eye-Catching Land Sales Results from 7 States
Farmland sales continue to raise eyebrows and challenge—or set—records. Just look at the farmland sales results below.
Just how historic is the current farmland market?
“According to my auction data, the percentage increase in farmland values from January 2021 to Dec. 31, 2021, was 36.5%, which is a very aggressive increase,” says Jim Rothermich, farmland real estate appraiser with Iowa Appraisal. “A lot of that happened in the first six months of the year because the shortage of land for sale.”
As those prices went higher, more farms hit the market, he says. In the last six months of 2021, Iowa farmland for sale jumped by around 70%.
This historic shift has Rothermich worried about the supply of land for sale. The demand is so strong, he says, a normal amount of farmland for sale Is not enough.
“We have so much pent-up demand to buy land that we need to have 25% to 50% over the average amount of land for sale,” he says. “If we don’t, we’ll continue to see prices go higher.”
Recent land sales featured in LandOwner:
$26,212 PER ACRE: Black Hawk County, Iowa
March 22: 95.75 total acres near Cedar Falls, Iowa with 89.38 acres tillable and a CSR2 of 89.22. Soil types include Kenyon loam and Maxfield silty clay loam. Features a corn base/yield of 44.60/140 bu. and a soybean base/ yield of 43.60/48 bushels per acre. Includes, 'extensive drainage tile.' Topography called, 'level to gently rolling.' Sold with open lease for 2022, noted as, 'high quality farmland with future development potential.' Hertz Real Estate Services, Nevada, Iowa, Local phone 319-239- 1005.
$12,400 per acre - Henry County, Ill.
March 15: 63.28 total acres near Geneseo, Ill., with 62.15 acres tillable and a PI of 125.0. Soil types include Plano, Proctor and Seaton. Features a corn base/yield of 43.76/158 bu. and a soybean base/yield of 14.53/51 bushels per acre. Drainage is, 'natural' with topography called, 'level to moderately sloping.' Tract surrounds a farmstead, not included in sale. Hertz Real Estate Services, Nevada, Iowa, Local phone 309-883-9490.
$11,925 per acre - Buena Vista County, Iowa
March 26: 175 total acres west of Rembrandt, Iowa, sold in 2 adjoining tracts. A century farm consisting of roughly 82% Clarion and Nicollet soils, said to have, “excellent natural drainage,” and a CSR2 of 87.5 and 83.1, respectively. Both tracts carry a corn base/yield of 106.2/163 bu with open leases for 2021. Tract 1: 87.4 all tillable, sold for $12,100 per acre. Tract 2: 83.1 tillable acres, sold for $11,750 per acre. Stalcup Ag Service, Storm Lake, Iowa 712-732-4811.
$11,667 per acre - McLean County, Ill.
March 10: 139.43 total acres, all tillable located 5 miles northwest of McLean, Ill. Said to be located close to grain markets in a seed corn area. Features a corn base/ yield of 69.75/189 bu. per acre and a soybean base/yield of 52.05/50 bushels per acre. Soil types include Ipava silt loam, Sable silt loam and Osco silt loams, characterized as, ‘highly productive.’ Farmers National Company, Omaha, Nebraska. Local phone 217-607-0118.
$11,300 per acre - Winnebago County, Ill.
April 12: 79.00 total acres south of Durand, Ill., with 74.16 acres tillable with the balance in waterways and some timber that sale bill notes, 'could be cleaned up to add more tillable acres.' Soil types include Fayette, Sable, Greenbush, Stronghurst, Comfrey, Rozetta and Lawson with a PI of 124.8. Sullivan Auctioneers, Llc, Hamilton, Illinois 844-847-2161.
$11,295 per acre - White County, Ind.
January 19: 184.33 total acres east of Wolcott, Ind., sold in three tracts. Tract 1: 43.1 tillable acres and 1.86 non-crop acres with a corn base/yield of 21.23/161 bu., and a soybean base/yield of 21.23/46 bu. Tract 2: 24.42 tillable acres and 4.91 non-tillable acres with a corn base/yield of 12.03/161 bu., and a soybean base/yield of 12.03/46. Tract 3: 108.34 tillable acres with 3.06 non-crop acres with a corn base/ yield of 53.34/161 bu. and a soybean base/yield of 53.34/46 bu. Soil types on all three include Wolcott and Conover. Sale bill notes, “All tracts have been well maintained and kept at a highly productive level for many years.” Farmers National Company, Omaha, Nebraska, local phone 765-426-8142.
$10,900 per acre - Livingston County, Ill.
February 23: 80 total acres east of Gridley, Ill., with 76.9 acres tillable and the balance in grass waterway. Soil types include Ashkum, Chenoa and Graymont with a PI of 127.5. Sullivan Auctioneers, Hamilton, Illinois 844-847-2161.
$6,569 per acre - Monroe County, Mo.
March 12: 242.2 total acres southwest of Paris, Mo., sold in 2 tracts. Tract 1: 118 total acres with 103.42 acres tillable and 1.67 ac. enrolled in CRP through September 2021 and the balance in wooded areas, 2 ponds and grass waterway. Soil types include Mexico, Armstrong and Leonard. Called, “well maintained, highly productive tillable cropland offering some excellent hunting/recreational acreage.” Sold for $6,000 per acre. Tract 2: 122 total acres with 114.07 acres tillable and the balance in small wooded areas and grass waterway. Soil types are also Mexico, Leonard and Armstrong. As with tract 1, this parcel represents well maintained, highly productive cropland with excellent hunting/recreation areas. Sold for $7,150 per acre. Sullivan Auctioneers, Hamilton, Illinois 660-341-7735.
$6,300 per acre - Hanson County, S.D.
February 24: 480.00 total acres east of Ethan, S.D., sold in three tracts. Tract 1: 150.7 acres of cropland called an, 'excellent quality tract with good access.' Features an 81.27 soil rating. Tract 2: 150.76 acres of cropland called a, 'nice quarter with gravel road access on two sides,' with a 73.23 soil rating. Tract 3: 154.21 cropland acres called a, 'productive quarter just three miles from Ethan, SD,' with a 73.32 soil rating. All three tracts feature a combined corn base/yield of 127.7/104 bu., and a soybean base/yield of 124.7/41 bushels per acre. Farmers National Company, Omaha, Nebraska, Local phone 605-679-6050.
$3,062.50 per acre - Marshall County, Minn.
January 8: 160 total acres near Thief River, Minn., with 157.2 acres tillable. Soil types include Foxlake loam, Clearwater clay and Hillaire loamy fine sand with a Soil Productivity Index of 86.5. Tract features a corn base/yield of 75.6/87 bu. and a soybean base/yield of 75.6/28 bu. Pifer’s Land Auctions, Moorhead, Minnesota 701-893-8517.
$1,335 per acre - Garfield County, Okla.
March 10: 104 total acres east of Lahoma, Okla., with 100.47 acres tillable and the balance in a small pond. Tract carries a full wheat base and a 36 bushel per acre PLC yield with soil types including Keokuk loam, Class I; Port silt loam, Class II; & a smaller amount of Miller-Drummond complex, Class IV. Noted for scenic views and as a potential building site with wildlife opportunities. Wiggins Auctioneers, Enid, Oklahoma 580-554-4400.
$885 per acre - Perkins County, S.D,
March 16: 480 total acres with 248 acres gently rolling productive cropland and 225 acres of pasture with wooded draw called, ‘excellent for winter livestock protection or habitat for wildlife.’ Tillable acres carry an oat base/yield of 248.68/2 ton per acre. Wooded draw includes a seasonal creek and perimeter fence. Farmer’s National Company, Omaha, Nebraska. 605-381-9583.
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