TWO IOWA FARMLAND SALES TOP $15,000 PER ACRE
October 12, 2011
The record highs keep coming in the hot Iowa land market.
They came in two auctions late September out of Jasper and Mahaska counties, just east of Des Moines.
The first was the September 24 auction of 160 acres of Jasper County farmland handled by John and Kathy VanZee, Farmers National Company, Mitchellville.
The offering featured two tracts of 80 acres each located north of Sully. Farmland in that area can be quite rolling in some areas, but that was not the case with these two tracts.
Tract 1 featured 74.4 tillable acres and was level to gently rolling. The soils carried a Corn Suitability Rating (CSR) of 91. That rating is about as good as it gets in Iowa where the CSR maximum is 100 and rare.
And, it's a standout compared to the county average of 64.1. That tract brought an eyeblinking $16,200 per acre. The buyer is an area farm family - father and two sons.
The second 80-acre tract brought $7,000 per acre, but it carried a CSR of 62 - slightly under the county average.
That sale was followed by a sealed-bid auction September 27 of 77.5 acres of bare land located near Leighton, southeast of Pella in Mahaska County.
The CSR on the ground was 81 - the county average CSR is 68.2. Sale price: $15,368 per acre.
August Luthens, Luthens Law Office, Colfax, handled the sale. The buyer is an area farmer.
- Source: Landowner Reports
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