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Report: Iowa farmland prices stable


The average price of Iowa farmland slipped 1.7% in the first six months of 2023, indicating stable conditions in the market, according to a report released by Iowa Appraisal. The statewide weighted average price for tillable farmland is $175 per Corn Suitability Rating 2, or CSR2, according to the report. In December, the average price was $178 per CSR2. Between Jan. 1 and June 30, 2022, the statewide weighted average price per acre was $13,742; in 2023, it was $13,385. In the first six months of 2023, there were 326 auctions and 32,290 tillable acres were sold. Iowa Appraisal, in a news release, said it was describing Iowa farmland market conditions as stable for several reasons, including the fact that 80% of Iowa farmland carries no debt, inflation has not affected land values because of farmers’ liquidity, and buyers with large amounts of cash are looking to purchase land.

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