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Sep. 22, 2014 Source: Iowa Chapter of REALTORS Land Institute The Iowa Chapter of REALTORS Land Institute is pleased to announce the results of our September 2014 Land Trends and Values Survey. Our REALTORS Land Institute Chapter is an affiliate of the National Association of REALTORS and is organized for REALTORS who specialize in farm and land sales, management, development and appraisal. Participants in the survey are specialists in farmland, and are asked for their opinions about the current status of the Iowa farmland market. Participants were asked to estimate the average value of farmland as of September 1, 2014. These estimates are for bare, unimproved land with a sale price on a cash basis. Pasture and timberland values were also requested as supplemental information. The results of these surveys show a statewide average decrease of cropland values of -3.4% for the March 2014 to September 2014 period. Combining this decrease with the -5.4% decrease reported in March 2014 indicates a statewide average decrease of -8.8% for the year from September 1, 2013 to September 1, 2014. The nine Iowa crop reporting districts showed a mixed response. The districts varied from a 3.1% increase in SE district to a -6.5% decrease in NE district since March 2014. Factors contributing to current farmland values include: lower commodity prices, increasing interest rates. Other factors include: lack of stable alternative investments, cash on hand, and limited amount of land on market. The Iowa Farm & Land REALTORS farmland value survey has been conducted in March and September since 1978. This survey plus the RLI Farm and Ranch Multiple Listing Service are activities of REALTORS specializing in agricultural land brokerage on a daily basis. Tweet |
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