Iowa land draws strong farmer interest, selling for more than $2.55 million
A 283-acre farm in Henry County, Iowa, sold for $2,551,935 in three tracts on June 8, as the Steffes Group auction attracted more than 80 people to the company’s auction facility in Mount Pleasant, Iowa.
An 80.92-acre tract sold for a total of $776,832, or $9,600 per acre. Coming in second was a 121-acre tract, which went for $9,275 per acre. A third 80.97-acre tract sold for $8,050 per acre.
Steffes Representative Tim Meyer said two of the three buyers had adjoining land. “A farmer may have one chance in a generation to accumulate adjoining land, so such buyers are typically driven by very long-term needs rather than the ups and downs of the short term marketplace,” said Meyer. He said farmers appear to be shrugging off slumping commodity prices, as well as concerns about rising interest rates and tariffs.
“Farmers are still eager to accumulate good land. In this case, the land had high corn suitability ratings and is also suitable for swine, offering greater versatility and an opportunity for higher long term returns,” he said.