March 2019 Land Trends and Values Survey
Iowa Farmland Values Decrease from September 2018
Cropland values are down statewide for the September 2018 to March 2019 period, according to the Iowa Chapter of REALTORS® Land Institute Land Value Survey released on March 13, 2019.
The twice-yearly survey of farm real estate professionals finds Iowa farmland values edged lower in the six-month period ending March 1, 2019. The survey, conducted by the Iowa Chapter of REALTORS® Land Institute (RLI), found on average, tillable crop decreased -1.0% from September 2018 to March 2019. Combining this decrease with the -1.7% decrease reported in September 2018 indicates a statewide average decrease of -2.7% for the year from March 1, 2017 to March 1, 2018.
Major factors contributing to current farmland values include: limited amount of land on the market, government compensation (MFP Payment), the new farm bill, and higher than expected crop yields in some locations. Negative factors include trade uncertainty, decreasing levels of working capital, and slightly increasing interest rates.
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Jim “the Land Talker”
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David Whitaker | Iowa Land Guy