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Crazy Land Auction
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Kooiker
Posted 4/17/2024 08:05 (#10709770 - in reply to #10709599)
Subject: RE: Crazy Land Auction



barren - 4/17/2024 04:20

Prices didn't return to those levels for 25 years.  It was my experience that is totally wrong.  Do you have specific examples of this in your area?  In my area I personally know of one farm that was purchased for $900 per acre in 1976, sold for $450 an acre in 1985.  Equivalent land in the area was bringing $1500K an acre in 1995. I also know of at least one example with better returns than this one.

 





Yes, several examples (and a link at the bottom), some of which are kind of personal so the details are pretty clear.

Land purchased in the 1980-1982 timeframe took until around 2004-2005 to get back to the same value.    ~$3000 for good land.    In 1995 that same type of land was still under $2000.   Same type of land could have been bought for ~$1000 at the bottom for those that were brave and had the money to do it.



Just looking at the IA State published land "average" land values for the whole state of Iowa, it took until 2003 to take out the 1981 high.    So that's 22 years.

Pretty cool link that has it listed by county.   Interestingly enough, my county shows that the high was in 1980 and it wasn't taken out until 2002.   Keep in mind those are "average" prices including stuff that isn't tillable ground.    Good tillable land was (and still is) much higher than the "average" price ISU reports.

https://www.extension.iastate.edu/agdm/wholefarm/pdf/c2-72.pdf


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