Iowa Land Values Update
Peoples Company tracks agricultural auctions across the state of Iowa. From this data, we calculate the average dollar per CSR2 point ($/CSR2) for sales of tracts with greater than 85% tillable land. Additionally, these tracts are largely unimproved or include minimal improvement contribution.
2023 Quarter 1 Auction Data:
Tracts: 253
Acres: 25,247
Average $/Acre: $11,768
Average $/Tillable: $13,695
Average $/CSR2: $177
Auction prices in Iowa are overall remaining steady. Quarter 1 of 2023 saw 253 tracts or 25,247 acres sell, with an average dollar per acre of $11,768, average dollar per tillable of $13,695, and an average dollar per CSR2 of $177. This $/CSR2 average is down 3% from Q4 2022.
There was a slight drop in volume: Q4 2022 sold 357 tracts or 34,039 acres, while Q1 2023 sold 253 tracts or 25,247 acres. However, as compared to this time last year, volume was nearly identical: Q1 2022 sold 234 tracts or 25,503 acres.
Iowa is still seeing some strong sales: Plymouth County had two farms (76.71-acres and 75.99-acres) sell for $24,000 per acre each, and Lyon County had a 80.71-acre cropland farm with a CSR2 of 67.6 sell for $307/CSR2.
Click HERE to view the Land Auction Results for March 2023, average dollar per CSR2 for the past five years, and additional details.