The Iowa Chapter of the REALTORS® Land Institute has released the results of their March 2023 Land Trends and Values Survey and after a period of rapidly rising values, the value of tillable land market appears to be leveling off.
The results of the March survey show a 0.8% increase on a statewide average for the September 2022 to March 2023 time period. This is following the March 2022 to September 2022 time period that showed an 2.8% increase, giving us a 12-month increase of 3.6% for the State of Iowa on tillable acres.
Survey participants are specialists in farmland and are asked for their opinions about the current status of the Iowa farmland market and were asked to estimate the average value of farmland as of March 1, 2023.
These estimates are for bare, unimproved land with a sale price on a cash basis. Pasture and timberland values were also requested as supplemental information.
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Download the full report with the PDF below: