Believe this is a new record. $11,338/acre or $128 per CRS point. Just pointed this out for the "Farmland is to high priced to buy, and should be sold now" crowd.
7/14/2011 237± Acres, Grundy County, Iowa, were held for auction on Thursday, July 14, at 10:00 AM. Auction will be held at Beaman Memorial Hall, 215 Main Street in Beaman, Iowa. Property is located one mile north of Conrad on H Avenue. High quality Grundy County farms. For additions information, please contact Bob Regenwether, agent (319) 988-3585 or click here.
Can you get word out to these guys that I have some prime Iowa farmland for sale in Eastern Indiana? I would be content with $6-8k per acre unless they feel the need to pay more. I would even throw in a gift card to Texas Roadhouse and to Kohl's!
never heard of a sale getting down to dollar bids ICF. 11,338 doesnt really add up unless they sold the dollar amount times a different acre number than 237. only been to a few sales where they say the dollar amount other than the per acre amount. I personally like the per acre sales better but not a big deal i guess. One of think that with such the high dollar amount it would bring just a touch more selling it per acre just for the simple fact the dollar amount is more staggering. Land has been bringing $100-120 per CSR point around here. Most going in the $110-120 range. we used to be about 10 points under the market but have caught up
Yea g-mart, I too wondered about the $11,388 per acre figure. I am more of a CSR per point man, myself. However, I think CSR numbers could be outdated a little with this biotech corn. I have about 50 acres of 70 CSR ground on one corn field and that land gets 200+ bu per acre with normal weather. One problem is that one soil type can have several CSR rating points depending on the slope. The 70 CSR ground I have would be 89+ CSR with a 0-2% slope, instead I have a 2-5% slope on this ground which brings the CSR rating down to 70.
Anyway, I am wondering how much higher Iowa land can be expected to bring or are we near the top for now? Guess time will tell. However at $11k per acre, I too wonder if I should maybe sell a quarter or half, only 160 acres or 320, so we are not talking about much ground here. 320*$11k = $3.5 million. Guess something to think about considering I only paid $1,000/acre in 1986 for the land.