(Des Moines, IA) — A survey of real estate agents finds the price of tillable Iowa farm land is increasing significantly.
The Iowa chapter of the Realtors Land Institute releases survey data in March and September. The latest report shows Iowa farm land values have jumped nearly 19 percent since the spring. Compared to a year ago, the average price for Iowa farm land is up 26-point-six percent. The Realtors Land Institute cites high commodity prices, a good harvest and favorable interest rates as factors driving up farm land prices.
The group reports farmers are the primary buyers, but investors are very competitive at public auctions of farm land.
