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Land prices showing declines this fall

A farm real estate specialist says ag land prices have been softening in some areas of the Corn Belt.

Jim Rothermich, vice president of Iowa Appraisal, says that trend could continue with a challenging farm economy. “What they’re telling me at the auctions is that the farmers are saying they’re very cautious going into 2025. They look at 2025 as going to be break-even at best. They think commodity prices are going to be low and input costs are going to be high.”

He tells Brownfield sales have been decreasing. “I keep track of all the land auctions here in Iowa and the month of September there were 14 no sales in the state. That’s a high number. Typically, it’s from zero to three in either a stable market or a rising market.”

A recent survey of rural bankers by Creighton University found nearly a quarter of respondents expect a 10-to-20% drop in farmland values next year.

INTERVIEW: Jim Rothermich with Iowa Appraisal

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