A farm real estate specialist says the recent surge in Iowa’s farmland market is similar to trends in other Midwestern states.
Jim Rothermich is the vice president of Iowa Appraisal and says, “Very steady and very few no-sales. The market just seems to be rolling right on across the Midwest.”
He tells Brownfield the majority of purchases have been made by farmers.
“The local farmers are driving the market conditions. But I will say as we have this volatility in the stock market, it pushes buyers to the land market as they want a stable investment.”
Rothermich says higher quality tracts of land have been moving fast, but the low quality farmland has been difficult to sell.
