Friday, April 15, 2011

Fourth Quarter 2010 Farmland Value Map. Wow. That is Some Kind of Momentum.

This map shows the percent price change in the year from 4th quarter 2009 to 4th quarter 2010 of nonirrigated good quality farmland in the Midwest, as measured by the District Federal Reserve Office surveys.

To see fourth quarter price movements compared to the third quarter annual change, see below:

big picture agriculture

If any readers here have seen recent farm sales, please leave a comment about what you are seeing in your neck of the woods.
K. McDonald


  1. Here’s a couple of recent Iowa sales that I found interesting at

    April 8, Mitchell County, 80 acres, $10k/acre. Included 3 BR house plus outbuildings. CSR of 90 which is HUGE! This is a highly productive parcel. I couldn’t find the property in the Mitchell County database so don’t know what the buildings are assessed at. But using $300k as an estimate for the value of the buildings, that would leave $500k for the 72 tillable acres or $6944/acre. Not a bad price for such a high CSR.

    March 31, Cerro Gordo County, 160 acres, $9k/acre, included storage and drying bins. CSR of 82 which is very good. One of the pricier parcels we’ve seen this year.

    March 30, Fayette County, 151 acres, $7200/acre, included storage and drying bins. CSR of 80 which is very good. Only 141 tillable acres, 4 CRP contracts on the rest. This parcel seems to have a buffer strip running right through it which probably accounts for the lower price.

    It’s really hard to generalize about prices when you look at each parcel individually. They all have unique characteristics and of course location, location, location, is important. If your parcel is near an ethanol plant, that can be a huge plus as it saves transportation costs.

  2. In Kansas high quality farmland continues to be in strong demand but inventory is very limited. Pasture land sales are not nearly as robust as farmland. Kansas had some catching up to do in terms of value in relation to neighboring states and it appears that has happened.

  3. Very high land sales, but mostly non-farmer purchases. We have many outside investors.