Farmland Auction Activity Remains Steady
The second quarter is typically a slower period for public farmland auction activity, and this year followed that pattern. From April through mid-June, we tracked fewer than 33 farmland tracts sold at public auction. This lighter volume is not unusual, as sales activity generally begins to build during the summer months and continues to increase through the end of the year.
Based on the first-half sales reviewed, land values appear to be holding firm, with a modestly positive tone. The sales tracked by Stalcup Ag Service included 95 cropland-only auction tracts that were at least 85% tillable and had no substantial building improvements, with 16 of those tracts selling for more than $20,000 per acre.
The strongest results continue to be concentrated in high-quality, mostly tillable farms with productive soils, good locations, and active local buyer interest. The 95 qualifying tracts averaged $14,555 per acre, with stronger tracts exceeding that range where CSR2 ratings, field configuration, and neighborhood demand supported competitive bidding.
High-Quality Cropland Continues to Lead the Market
While the overall tone of the market remains stable, results continue to vary by county, soil quality, tract size, percent tillable, drainage, and overall farmability. The best-performing farms were generally the most productive and easiest to farm, while lower-quality tracts, mixeduse parcels, CRP acres, and farms with more physical limitations tended to bring more variable results.
This pattern is generally consistent with the land value surveys noted later, which show little change to modest increases in values through the first part of the year. The sales data support a similar conclusion.
There is no clear evidence of a broad decline in farmland values; instead, the market appears to remain well supported for good quality cropland, particularly where neighboring farmers and investors continue to compete for available acres.
Overall, the first-half sales point to a market that remains mostly steady, with continued support for productive, well-located farms. Buyer interest remains strongest where soil quality, farmability, and local competition remain favorable.
Land Value Surveys Show Modest Gains
The most recent land value survey is the semiannual report released by the REALTORS® Land Institute in mid-March, with values reported as of March 1. This survey reflects the opinions of brokers and appraisers and divides Iowa into the nine crop reporting districts designated by the USDA.
Across the region, the six-month change in land values ranged from 0.5% to 3.4% higher, while the statewide average increased by 1.3%.
The Federal Reserve Bank of Chicago’s latest survey indicated Iowa land values were flat for the first quarter of the year and 2% higher for the past 12 months. The South Dakota State University Extension land value survey was published in May. The survey reported values 1.3% higher statewide, with values in the southeastern region 3.7% higher.
The tables below show one or two sales of “good” farmland for each county in the region.
Selected Sales of Good Farmland - Iowa
| Date | Acres | % Tillable | County | $ / Acre | CSR2 |
|---|---|---|---|---|---|
| June | 40.00 | 97% | Cherokee | $16,350 | 94.9 |
| June | 159.92 | 93% | Palo Alto | $16,200 | 87.7 |
| June | 190.49 | 92% | Carroll | $18,500 | 84.0 |
| June | 161.20 | 97% | Clay | $16,700 | 94.9 |
| June | 80.00 | 97% | Wright | $16,500 | 74.6 |
| June | 80.99 | 95% | Hancock | $11,675 | 90.1 |
| June | 117.50 | 100% | Sac | $13,900 | 93.7 |
| June | 80.20 | 95% | Boone | $14,200 | 82.5 |
| June | 80.00 | 99% | Hamilton | $14,200 | 85.1 |
| May | 102.72 | 93% | Crawford | $10,200 | 69.0 |
| May | 176.82 | 96% | Harrison | $9,700 | 63.1 |
| April | 76.65 | 101% | Webster | $11,000 | 67.5 |
| April | 40.00 | 95% | Sioux | $26,600 | 91.8 |
| April | 320.00 | 97% | Kossuth | $12,000 | 81.9 |
| April | 78.85 | 92% | Woodbury | $8,100 | 44.2 |
| April | 116.04 | 92% | Cherokee | $14,100 | 83.0 |
| April | 96.65 | 89% | Sac | $13,600 | 84.9 |
| April | 40.00 | 98% | Lyon | $19,700 | 89.2 |
| April | 127.00 | 92% | Dickinson | $9,300 | 82.0 |
| March | 58.14 | 97% | Plymouth | $17,800 | 90.8 |
| March | 160.00 | 96% | Wright | $11,100 | 75.9 |
| March | 79.00 | 91% | Buena Vista | $12,400 | 87.5 |
| March | 75.00 | 100% | Clay | $15,600 | 94.8 |
| March | 71.23 | 100% | Ida | $11,100 | 72.5 |
| March | 53.00 | 99% | Hancock | $18,500 | 79.5 |
| March | 136.82 | 87% | O'Brien | $14,900 | 96.6 |
| March | 117.00 | 96% | Kossuth | $11,200 | 78.9 |
| March | 72.50 | 99% | Sioux | $26,800 | 91.6 |
| March | 222.20 | 96% | Pottawattamie | $10,250 | 69.3 |
| March | 77.11 | 95% | Carroll | $17,700 | 84.1 |
| March | 87.72 | 97% | Boone | $16,600 | 89.3 |
| March | 72.28 | 97% | Wright | $11,300 | 85.6 |
| March | 119.50 | 91% | Greene | $11,050 | 84.0 |
Selected Sales of Good Farmland - South Dakota
| Date | Acres | % Tillable | County | $ / Acre | PI |
|---|---|---|---|---|---|
| May | 225.72 | 97% | McCook | $12,655 | 78.0 |
| March | 132.00 | 100% | Brookings | $15,350 | 83.7 |
| February | 69.86 | 100% | Union | $13,700 | 87.3 |
Please consult one of our real estate professionals if you have specific questions about values and check the results of Stalcup auctions.
