In what may be another new record price for farmland in Iowa, 80.5 acres of ground in northwest Iowa sold at auction Thursday for 21,900 dollars an acre.
The land was purchased by a local farmer.
Auctioneer Todd Hattermann of Vander Werff and Associates says it was a prime piece of farmland located in Sioux County, Iowa.
“The farm was located a mile south of Boyden,” says Hattermann, “It had about 79 tillable acres and had a CSR of 84.1. It was all tillable, expect the road and ditch—and it had some tiling done.”
There was considerable interest from bidders, Hatterman says, with four of them still bidding at over 21-thousand dollars an acre.
Hattermann says the demand for farmland remains very strong—and he says there has been more land coming onto the market in recent weeks.
“A lot of auctions here the last month or two,” he says. “and in the local counties that we work, we see a lot of land coming on the market.”
Hattermann says most of the auctions that they’ve handled are estate auctions. “We’ve sold more land in the last four or five months here than normal—with the good commodity prices helping.”
And while farmer interest in buying land remains very high, Hattermann says investors have also been active bidders in recent auctions.