Typically, the second quarter of each year has a limited number of sales, and this year is no different. We have tracked fewer than 26 tracts of farmland sold at public auctions from April to the middle of June. It is normal for activity to begin increasing as we move into the summer and continue to increase each month into December.
Let’s look at the “cropland only” land sales results from the first of the year into mid-June. “Cropland only” sales are 85% or more tillable with no substantial building improvements within our trade territory.
There were 81 tracts sold at auction which met this criteria. Of those sold so far this year, seven tracts of land have sold for over $20,000 per acre. These sales can be broken down further by dividing by the CSR2, which is a quick way to value farmland.
We use this formula—cropland value/CSR2—to produce a better apples-to-apples comparison. This, of course, works most accurately when all the value is on the farmable cropland. The range seen in these 81 sales is $141 to $217 per CSR2 point on 68.2% of the sales, with 15.9% being higher than $217 and 15.9% being lower than $141.
This is a large range of value and is confirmation that if you are looking to sell your farm it is best to speak to a land professional to determine the quality of your farm and how it compares to the other farms that have sold in the area.
Overall, based on the sales seen in the first part of the year, the market appears steady to slightly softer as shown on the scatter graph.
Land Value Surveys
The most recent land value survey is the semi-annual report released by the Realtor’s Land Institute in mid-March (values as of March 1st).
This survey of brokers and appraisers’ opinions divides the state into the nine crop reporting districts designated by USDA. The six-month change in land values ranged from -1.2 to -2.1% lower around the region. The state was -1% lower. The Federal Reserve Bank of Chicago’s latest survey placed Iowa at +4% for the first quarter of the year and no change over the past year.
South Dakota State University Extension land value survey was published in May. This year, the survey was 1.1% higher for the entire state. The southeastern region was -0.5% lower.
The tables below show one or two sales of “good” farmland for each county in the region. Please consult one of our real estate professionals if you have specific questions about values.
You can also check our website for results of Stalcup auctions.
$/CSR2 on Highly Tillable Farmland in NW & WC Iowa
Selected Sales of Good Farmland - Iowa
| Date | Acres | % Tillable | County | $ / Acre | CSR2 |
|---|---|---|---|---|---|
| June | 101.39 | 95% | Buena Vista | $14,800 | 84.5 |
| June | 79.85 | 97% | Buena Vista | $14,800 | 85.4 |
| June | 75.38 | 96% | Dickinson | $11,250 | 82.7 |
| June | 115.67 | 100% | Hamilton | $15,000 | 84.9 |
| June | 75.18 | 100% | Palo Alto | $11,100 | 80.9 |
| May | 148.68 | 96% | Crawford | $12,400 | 73.0 |
| April | 80.00 | 92% | Sioux | $20,500 | 86.0 |
| April | 183.00 | 88% | Buena Vista | $11,950 | 84.4 |
| April | 80.00 | 99% | Osceola | $17,400 | 90.3 |
| April | 153.00 | 97% | Hardin | $14,400 | 87.5 |
| April | 160.00 | 96% | Dickinson | $16,700 | 90.9 |
| March | 99.35 | 94% | Cherokee | $13,700 | 85.2 |
| March | 193.31 | 98% | Crawford | $13,250 | 73.1 |
| March | 40.00 | 98% | Greene | $14,500 | 85.2 |
| March | 160.00 | 97% | Wright | $14,000 | 76.4 |
| March | 80.00 | 99% | Dickinson | $13,700 | 89.3 |
| March | 76.27 | 99% | Monona | $13,200 | 75.0 |
| March | 34.95 | 100% | Plymouth | $21,250 | 90.3 |
| March | 57.75 | 96% | Lyon | $16,700 | 64.5 |
| March | 40.06 | 98% | Clay | $19,400 | 95.2 |
| March | 119.50 | 91% | Woodbury | $9,750 | 67.4 |
| March | 176.62 | 89% | Harrison | $9,550 | 69.6 |
| March | 32.89 | 94% | Monona | $11,800 | 79.7 |
Selected Sales of Good Farmland - South Dakota
| Date | Acres | % Tillable | County | $ / Acre | PI |
|---|---|---|---|---|---|
| April | 67.27 | 96% | Minnehaha | $16,500 | 82.5 |
| April | 44.22 | 95% | Union | $11,500 | 77.1 |
| April | 80.00 | 99% | Union | $12,700 | 84.3 |
| April | 147.00 | 89% | Moody | $9,952 | 71.5 |
| April | 114.65 | 96% | Spink | $8,200 | 64.2 |
Partner with Stalcup
For more than 75 years, Stalcup has partnered with landowners to help them make the most of their farmland. Rooted in northwest Iowa, our team brings deep knowledge of the local ag economy, tenant relationships, and land stewardship priorities that matter to owners.
Whether you’ve had the same tenant for decades or are just beginning to explore your options, we’re here to serve as your boots on the ground—ensuring your land remains both productive and well cared for.
Even if you prefer to manage your farm independently, a farm manager can provide objective support with things like reviewing lease agreements, assessing crop performance, or navigating tenant changes.
Curious if farm management is a fit for you? A one-on-one consultation can help clarify your options and align services with your long-term goals.
