Iowa Farmland Sells for $25,000 Per Acre

Brock Auction Company sold a 100-acre Plymouth County farm southeast of Le Mars, Iowa, for $25,000 per acre, well above last year’s values of $12,416 per acre. A neighboring family north of the property bought the roughly 96.33-acre farmland and 3.67-acre farm after the recent death of the owner, Eilene L. Rolling. The price was higher than the state’s average values. Northwest Iowan farmland is considered richer and more valuable than other regions in the state. Bruce Brock, president of Brock Auction company, describes the land as having highly productive “top-quality soil.” The sale of more than $2.6 million reflects Iowa’s increasing farmland values. According to Iowa State University, the statewide average of farmland values went up 29 percent for 2021, which was up 31.4 percent from 2020. Farm revenues and land values are sure to increase in 2022 due to increasingly limited global grain supplies.