Despite a challenging ag economy, land values are strong, especially in the Midwest.
Farmers National Company says the numbers prove flyover states continue to be resilient.
“Good quality, high productive soils are still bringing a premium, and that happens in Iowa, especially Illinois, and Indiana, have kind of been hotbeds lately. Have seen some really good sales out there. We’re still approaching $20,000 an acre out in those areas, we’re still seeing a lot of 12 to $14,000 sales for good quality land in Iowa. The only time we see it tick down is when the average land in Iowa is probably hitting closer to that 9000 range now. So that’s definitely a settling-in value,” said Paul Schadegg.
Schadegg says it all boils down to supply and demand. He has seen a 25 percent drop in available land, and says buyers are paying a premium for what is left.
