September 2019 Land Trends and Values Survey
Iowa Farmland Values Increase, 0.80%, from March 2019
Cropland values are up statewide for the March 2019 to September 2019 period, according to the Iowa Chapter of REALTORS® Land Institute Land Value Survey released on September 19, 2019.
The twice-yearly survey of farm real estate professionals finds Iowa farmland values edged higher in the six-month period ending September 1, 2019. The survey, conducted by the Iowa Chapter of REALTORS® Land Institute (RLI), found on average, tillable land increased 0.80% from March 2019 to September 2019. Combining this increase with the 1.0% decrease reported in March 2019 indicates a statewide average decrease of 0.2% from September 1, 2018 to September 1, 2019.
Major factors contributing to current farmland values include: limited amount of land on the market, government compensation (MFP payment), and low interest rates. Negative factors include: trade uncertainty, decreasing levels of working capital, variability in yields for the 2019 crop year, and weather patterns.
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Jim “the Land Talker”
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David Whitaker | Iowa Land Guy