Survey shows smaller drop in IA farmland values

Iowa farmland values appear to be stabilizing, at least when compared to late 2008 and early 2009. 

A survey by the Iowa Farm and Land Chapter of the Realtors Land Institute shows farmland values decreased by one-point-nine percent from March through September.  In the previous six months, farmland values fell nearly eight percent.

Realtors attribute the continued decline to lower commodity and livestock prices and the economic slowdown.  They say buyers are still willing to pay premiums for the best-quality farmland, which averages around 5,300 dollars per acre, up slightly from March.  All categories of Iowa farmland averaged about 4,150 dollars per acre in the latest survey, down about 80 dollars from March.