Iowa farmland professionals are cautious on land near-term land values, based on an annual survey conducted at an Iowa State University (ISU) conference. Farmland Realtors, brokers, farm managers and farm lenders attending the 91st Annual ISU Soil Management and Land Valuation Conference expressed their opinions on future land values through the conference’s annual survey. The data was compiled and published by conference organizer Extension Economist Wendong Zhang. ISU has conducted the opinion survey at every conference since 1964. Its results have proven remarkably accurate.
Survey participants indicate they expect the average value of an acre of Iowa farmland will slip 1% compared to current levels by November.
Looking ahead, they see prices holding steady compared to current levels by November 2019 and edging a slim 2% higher by November of 2020. ISU’s land values survey pegged the average value of an acre of Iowa farmland at $7,326 in November. No update is available for a May benchmark, but other surveys suggest values are steady to 2% higher versus November.