By Rich Wicks | Times Vedette
Iowa State University released the results of its annual farmland value survey. The full report is available on the ISU Extension and Outreach website, by navigating to “Whole Farm,” then “Land Values,” then “Farmland Value Surveys.”
The ISU Land Value Survey was initiated in 1941 and is intended to provide information on general land value trends. It is an expert opinion survey based on reports by licensed real estate brokers, farm managers, appraisers, agricultural lenders, county assessors and selected individuals knowledgeable of land market conditions. The 2024 survey is based on 479 usable county-level land value estimates provided by 330 agricultural professionals.
Fifty-six percent of respondents reported fewer sales in 2024 relative to 2023. Only 13% reported more sales, and 31% reported the same level of sales in 2024 and 2023.
Statewide, the average was $11,467 per acre as of Nov. 1, 2024, which is a decrease of $369 per acre (or a 3.1% decrease) from Nov. 1, 2023.
Guthrie County sales averaged $10,896 per acre, a decrease of 4.6% from the previous year. Of the counties that border on Guthrie County, the highest value was Carroll County at $13,023 per acre (down 5% from 2023) and the lowest was Adair County at $8,990 (up 0.9% from 2023).