Record Price for Iowa Farmland Now $30,000 Per Acre

(Radio Iowa) The sale of 73 acres of farmland near Sheldon appears have set the record price for Iowa ag land. Mark Zomer of Zomer Company Realty and Auction of Rock Valley handled the sale last Friday.

“We had several bidders for the farm and all of them were local farmers,” he says. “The farm sold for $30,000 per acre. I believe that might be a new record for the state of Iowa for agland only.” A month ago, 53 acres of Plymouth County farm ground between Marcus and Remsen sold for over 26-thousand dollars an acre. Zomer says the parcel he sold in Sioux County on Friday is highly-rated cropland.

“An older gentlemen once told me if you could order a farm and have it perfect, this farm would be as perfect as you could get. It had just a little bit of slope to it, so the drainage was excellent and it had very good soil types to it,” Zomer says. “It was what we call an inside parcel of land, so it was land with road on only one side, so it was virtually all tillable except for the road and ditch.” Zomer says the buyer is adding the 73 acres to a family operation. There’s only so much farm ground for sale and, according to Zomer, that makes the land market very strong.

“I think, long term, people believe land’s a good investment,” Zomer says. “…I realize there can be ups and downs in the land market, but overall…I think people understand that the long-term dividends of owning a farm — receiving rent every year or crop income every year…over the 40 to 50 year history — I think land is proven to be a good investment.” The land that sold for 30-thousand dollars an acre last Friday is located between Sheldon and Boyden.
(Scott Van Aarsden, KIWA, Sheldon)