A New Farmland Record Set After $2.19 Million Sale In Iowa

Just when we thought farmland prices couldn’t get any higher… they do

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A month ago, we saw 55 acres of farmland smash land record prices by going for $26,250 an acre totaling at $1.4 million. The bidding started at $17,000 an acre and rose to $25,000 per acre as three bidders battled it out. The winning bid eventually went to a local farmer.

This sale held the state record for Iowa farm sales… for about a month.

The Zomer Company held a live public auction of a 73.19-acre plot in Sioux County on November 11^th. The land sold for $30,000 per acre and which equals a total sale cost of $2.195 million.

That’s right, $30,000 and ACRE.

The new owner of this land is a local farmer, says an article in AgWeb. The runner-up was also a local farmer.

According to the listing, the land includes 72.49 tillable acres with a balance in road/ditch. It has a corn base of 38.19 acres with a PLC yield of 172bu. It also has a soybean base of 38.19 acres with a PLC yield of 56bu.

This sale follows another record-breaking sale in Nebraska from October 27^th. There is a 116-acre plot in SE Nebraska sold for $27,400 an acre. This tract was sold alongside a 163.07-acre plot which only sold for $14,400 an acre. Together this sale totaled $5.5 million for the nearly 280 acres.

And we can’t forget about the big sale back in May where a farm in Plymouth County sold for $25,000 per acre.