“Bleeding” has stopped, finds land value survey
The three-year downtrend in Iowa farmland values appears to have ceased, at least temporarily, according to a survey of AG realtors released March 22.
The average value of Iowa farmland shows a statewide increase of nearly 1% for tillable cropland values from September 2016 to March 2017. Combining this 0.9% increase with the 3.7% decrease reported in September 2016 indicates a statewide average decline of 2.8% for the past 12 months.
“Looking at the nearly 1% increase for the past six months, it appears the bleeding has stopped,” says Kyle Hansen, a realtor Hertz Real Estate Services. He coordinates the survey, conducted twice a year by the Iowa Chapter of Realtors Land Institute.