News

Central Iowa farmland auction brings $10K/acre

Approximately 430 acres of central Iowa farmland sold at auction recently for just under 10-thousand dollars per acre.

The land is located in Boone and Webster counties. According to John Kirkpatrick of the auction firm Murray Wise Associates, the land sold in five tracts, to four bidders—two local farmers and two individual investors who intend to lease the land to local farmers. 

Just over half the land—220 acres—went to the two farmers, who paid an average of $9,861 per acre.

The auction drew 40 registered bidders.

Kirkpatrick says the sellers of the land decided that, with the recent appreciation in land values, it was time to liquidate their investment.  He says the results exceeded their expectations.