A farm real estate specialist says the farmland market has been picking up steam in Iowa.
Jim Rothermich with Iowa Appraisal says auction volume jumped significantly in April. “I keep track of all the land auctions in Iowa and it was the second highest since I started keeping track in 2018.”
He tells Brownfield volatility in the stock market has helped move higher-quality tracts of land. “The volatility in the stock market pushes buyers to the land market because investors are looking for a stable investment.”
Rothermich says some auction results have been harder to track. “We have seen a rapid increase in sealed bid auctions. I cannot get those results until that sale closes.”
He says lower-quality land has been difficult to sell and is showing some weakness.
