$20,000 per acre Farm Ground in IOWA!

A 74 acre tract near Hull in Western Iowa in Sioux County, went for $20,000 per acre.

There were two tracts – a 38 acre parcel and a 39 acre parcel.  Neighbor Leland Kaster purchased the two tracts from Clinton Shinkle, Washington – State.

“Farmland is very valuable up here, with good commodity prices and a strong livestock industry,” said auctioneer Pete Pollema of Hull, who called the sale.

Previously in October a 120-acre parcel near Sioux Center sold for $16,750 per acres. Near Sully, Iowa, an 80-acre tract sold for $16,200 in September of this year.

Iowa farmland has risen a “stunning” 34 percent according to the Federal Reserve Bank of Chicago.

Economist emeritus Neil Harl of Iowa State University called the prices “amazing.”

A survey by the Iowa Realtors and Land Institute released in September put a new state average of $6,477 an acre. That survey includes all land, from top quality crop land to pasture and recreation land.

Iowa State University will release its annual land price survey on Dec. 14.