Iowa Farm Ground has increased 32.6% since last year!

The Iowa Farm & Land (Chapter #2) of the Realtors Land Institute released its bi-annual survey. Since the last survey was released six months ago, Iowa farmland values increased an average of 12.9 percent. And 32.6 percent over the previous year which ended September 1, 2010.

The Land Institute reported $6,477 an acre for an average value of medium quality crop ground, up from its previous report in March of this year as $5,711 per acre.

 Northeast Iowa had the largest increase per acre up 17% in the last six months

Southeast Iowa had the lowest ground value increase of 8.5%.

Northwest Iowa ground went up to $9,685 per acre, an increase of 14.9% since six months ago.

Southwest Iowa saw the lowest increase of 9.3% at $7,555 per acre.

“Factors contributing to the increase in farmland values include: strong commodity prices, favorable long term interest rates and limited amounts of land for sale,” the Realtors institute said in a statement announcing the new values.

The five categories average values since March, 2011, are:

 High quality crop land: $8,330, up 13.3 percent.

Medium quality crop land: $6,477, up 13.4 percent.

Low quality crop land: $4,588, up 11.5 percent.

Non-tillable pasture: $2,309, up 4.9 percent.

Timber land: $2,019, up 2.7 percent.

 The institute said that the average value increases during the six months by crop reporting district were:

 Central: 12.9 percent

East Central: 13.1 percent.

North Central: 15.4 percent.

Northeast: 17.0 percent

Northwest: 14.9 percent.

South Central: 11.9 percent.

Southwest: 9.3 percent.

West Central: 12.0 percent.

State Average: 12.9 percent.

 The Iowa Farm & Land (Chapter #2) of the Realtors Land Institute has been sending out land value survey results since 1978.

As reported from the Des Moines Register September 14, 2011