What is in this article?:
- Demand at five-year high.
- Spurred by profitable crop prices.
- Seen as investment opportunities.
Iowa and Minnesota
Prices for quality land are at levels that are high or higher than they have ever been in most of the North Central Region including Iowa, Missouri, Minnesota, South Dakota and North Dakota, according to Sam Kain, area sales manager for Farmers National Company in Iowa and Minnesota. In many areas of Iowa, top-quality land is selling in the $8,000 to $9,000 per acre range.
“I would say in some areas of Iowa and Minnesota land values may have jumped as much as $1,000 an acre in the last 60 days, with prices at $6,200 per acre in Minnesota,” said Kain. “Demand remains very strong in all areas as there is a limited supply of properties for sale.”
Kain added that increased interest from investors is pushing farmland prices upward. However, he said that the majority of the sales are still going to local farmers.
“Land values in this region are likely to continue an upward trend,” said Kain. “Commodity prices definitely point upward, but these trends can quickly change as world issues change.”