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LAND VALUES<br />
SLOWING THE PACE<br />
Iowa farmland values rose higher in 2023 but the price-per-acre<br />
surge seen the previous two years abated<br />
BY NANCY MAYFIELD<br />
EASTERN IOWA FARMER<br />
When it comes to selling<br />
farm ground, each piece<br />
of dirt is different, said<br />
Matt Hoenig and Riley<br />
Sieren, both agents working in eastern<br />
and southeastern Iowa for Peoples, a<br />
national brokerage.<br />
Case in point, Sieren recalled an<br />
auction he handled last year where two<br />
parcels of land right across the road<br />
from each other were on the block. One<br />
sold for just over $26,000 an acre (the<br />
third-highest land price in Iowa last<br />
year), the other for $15,900.<br />
“There can be a lot of variation,” he<br />
said, noting it takes “two to tango.”<br />
The alignment of the right buyer with<br />
the right seller and the right conditions<br />
yields results.<br />
And while a statewide jump in land<br />
prices over the past three years slowed<br />
2023 HIGHEST<br />
LAND AUCTION<br />
PRICE-PER-ACRE<br />
• Cedar - $13,400<br />
• Louisa County - $16,950<br />
• Johnson County - $16,600<br />
• Muscatine - $15,425<br />
• Scott - $27,326<br />
Source: Iowa State University<br />
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eifarmer.com SPRING 2024 | EASTERN IOWA FARMER 69
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