Weekly Auction Results: 11/12/23-11/18/23

As harvest across the Midwest is wrapping up, the seasonal auction sales are officially in full swing. In Iowa, our appraisal team was able to track over 7,800 acres sold in 89 tracts. The average dollar per acre was $13,043, average dollar per tillable acre was $14,423 with an average dollar per CSR2 point of $178. This is down 2% from the Q3 average. Illinois had a rally, too, with 1,830 acres selling in 24 tracts at an average dollar per acre of $15,281.

Iowa Results
Tracts Sold: 89
Average $/Acre: $13,043
Average $/Tillable: $14,423
Average $/CSR2: $178
% Change from Q3: -2%

With interest rates rising, the speculation around prices dampening is on every real estate buyer’s mind. However, we are still seeing multiple farms selling for over $20,000 per acre. Both Lyon and Sioux Counties in Iowa had farms selling for $25,200 per acre, and Sioux County had a separate farm sell for $20,600 per acre.

Below is a map of the auction locations for the week of 11/12-11/18.

Illinois Results
Tracts Sold: 24
Average $/Acre: $15,281

Minnesota Results
Tracts Sold: 8
Average $/Acre: $9,499

Missouri Results
Tracts Sold: 10
Average $/Acre: $9,886

Nebraska Results
Tracts Sold: 6
Average $/Acre: $9,017