Realtors say Iowa farmland value up 11 percent

Ag/Outdoor, News

March 15th, 2012 by Ric Hanson

CEDAR RAPIDS, Iowa (AP) — The value of Iowa farmland is up by nearly 11 percent over the last six months as commodity prices remain strong. A survey of real estate agents shows the value of good quality farmland jumped by 10.8 percent to an average of $9,370 an acre. The Iowa Farm and Land Chapter No. 2 of the Realtors Land Institute released its survey on Thursday. The gains varied from 9 percent in northeast Iowa to nearly 13 percent in southwest Iowa from Sept. 1 to March 1. Troy Louwagie of Hertz Farm Management says several factors are driving up values, including high commodity prices and low interest rates. He says land sales have been strong in the last six months, and the survey results are not surprising.