by Jim Rothermich, MAI, ARA, ALC – Vice President, Iowa Appraisals
Generally, May is one of the slowest months of the year with 500-900 acres going to auction. May 2022 came in at 5,589 acres. Compared to 2,418 acres the same time last year, auction activity remains well above average and there is a good number of auctions on the books for the next 30 days.
Northwest Iowa’s Plymouth County topped the market this month with a sale at $25,000/acre for pure cropland with no influence from development or wind energy. This farm is in an equity rich neighborhood with few farms ever selling.
For perspective on current market conditions, this sale price is the highest in Plymouth County ever and by some distance. Dollars per tillable CSR2 in this county have increased 35.3% over the past six months, demonstrating explosive market conditions!
To read the entire report click here.