May 2025 Wallace’s Farmer MarketPlace Extra

As I write this article in early April, Iowa’s spring weather has been wildly unpredictable–80 degrees and windy just three days ago, followed by two inches of snow and blustery 25-degree temperatures that felt more like early December. Fortunately, as we approach another growing season, the Iowa farmland market is calmer than the weather. 

Specifically, there has been a noticeable “firming” in the land market this early spring, as compared to last fall. The Iowa Chapter of the Realtors Land Institute recently reported that Iowa land values eased 1% from September 2024 through March 2025. While weaker sales were pretty easy to find early last fall, this 1% decrease in the most recent period has been more difficult to distinguish, especially since the beginning of 2025. As I see it, this “firming” ties back to 3 collective influences…

1. Commodity prices enjoyed a terrific run higher in early 2025. This rally offered many a profitable selling opportunity for both the old and new crop. Profit margins are not fat, but compared to 2024, this turn has been quite positive.
2. The $10 billion in ECAP Aid is on its way. Government payments like this inject immediate liquidity into the countryside, along with a measured dose of optimism.
3. There appear to be fewer farms being offered to the market, which tends to consolidate interest – and competition – around those farms that do become publicly available.

To be clear – we are not back to the strength of the 2021-2023 land market. But, when you review these sales below, I expect most of you will join my thinking that there’s still a depth of confidence across Iowa’s farmland market.

NORTHWEST

Clay County:

Located southwest of Royal, 40 +/- acres recently sold at public auction for $19,400 per acre. The farm consisted of 39 +/- tillable acres with a CSR2 (Corn Suitability Rating index) of 95.2, and equaled $209 per CSR2 point on the tillable acres.

NORTH CENTRAL

Floyd County:

Located East of Charles City, 75 +/- acres recently sold at public auction for $13,100 per acre. The farm consisted of 75 +/- tillable acres with a CSR2 of 81.4, and equaled $161 per CSR2 point on the tillable acres.

NORTHEAST

Buchanan County:

Located southwest of Independence, 80 +/- acres recently sold at public auction for $14,100 per acre. The farm consisted of 76 +/- tillable acres with a CSR2 of 76.1, and equaled $195 per CSR2 point on the tillable acres.

WEST CENTRAL

Greene County:

Located north of Grand Junction, 40 +/- acres recently sold at public auction for $14,500 per acre. The farm consisted of 39 +/- tillable acres with a CSR2 of 85.2, and equaled $175 per CSR2 point on the tillable acres.

CENTRAL

Boone County:

Located northeast of Boone, 49 +/- acres recently sold at public auction for $14,100 per acre. The farm consisted of 45 +/- tillable acres with a CSR2 of 81.5, and equaled $188 per CSR2 point on the tillable acres.

EAST CENTRAL

Jones County:

Located west of Monticello, 80 +/- acres recently sold for $15,800 per acre. The farm consisted of 79 +/- tillable acres with a CSR2 of 84.9, and equaled $188 per CSR2 point on the tillable acres.

SOUTHWEST

Page County:

Located southeast of Shenandoah, 80 +/- acres recently sold at public auction for $8,000 per acre. The farm consisted of 67 +/- tillable acres with a CSR2 of 74.7, and equaled $128 per CSR2 point on the tillable acres. Note: The non-tillable land was primarily terraces and waterways.

SOUTH CENTRAL

Warren County:

Located north of St. Mary’s, 143 +/- acres recently sold at public auction for $9,000 per acre. This combination farm consisted of 33 +/- cropped acres with a CSR2 of 87.9, 35 +/- acres in hay production, 50 +/- acres in CRP, and an older farmhouse, older cattle shed, and small machine shed. Note: Approximately 22 acres of this farm is in timbered draws and waterways.

SOUTHEAST

Washington County:

Located northeast of West Chester, 80 +/- acres recently sold at public auction for $17,200 per acre. The farm consisted of 80 +/- tillable acres with a CSR2 of 75.7, and equaled $227 per CSR2 point on the tillable acres.

Hensley is president of Hertz Real Estate Services, which compiled this list, but did not handle all sales. Call Hertz at  800-593-5263  or visit hertz.ag.

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