The Iowa Chapter of the Realtors Land Institute has released their annual land value survey and it shows farmland values in Iowa are down 9-percent from last year. Land Institute’s Troy Louwagie says it’s a result of lower commodity prices and the depressed farm economy.
He says the lower grain prices, combined with a limited amount of land on the market also contributed to the lower farmland valuations.
Louwagie says the farmland value drop follows several years of higher values. He says where values trend from here is tied to the weather and the outcome of this year’s crop.
Louwagie says the average Iowa farmland value for 2015 is at just over $6700 an acre.
