dr. michael duffy, iowa state university extension economist
DESCRIPTION
2011. Iowa Land Value Survey. Dr. Michael Duffy, Iowa State University Extension Economist. Statewide Average. $6,708. up 32.5% up $1,644. High Grade Land. $8,198. up 34.2% up $2,090. Medium Grade Land. $6,256. up 31.5% up $1,498. Low Grade Land. $4,257. up 26.8% - PowerPoint PPT PresentationTRANSCRIPT
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Dr. Michael Duffy, Iowa State University Extension Economist
Iowa Land Value Survey2011
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Statewide Average
$6,708up 32.5%up $1,644
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High Grade Land
$8,198up 34.2%up $2,090
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Medium Grade Land
$6,256up 31.5%up $1,498
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Low Grade Land
$4,257up 26.8%up $900
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Northwest
$8,338up 2.8%up $83
high $9,649med $7,708low $5,196
up 31.2%up $1983
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North Central
$7,356up 28.0%up $1,610
high $8,601med $6,713low $4,900
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Northeast
$6,602up 31.5%up $1,580
high $7,994med $6,290low $4,352
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West Central
$7,419up 35.7%up $1,954
high $8,889med $6,981low $4,766
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Central
$7,781up 31.9%up $1,880
high $9,332med $7,029low $4,848
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East Central
$7,110up 30.5%up $1,664
high $8,675med $6,510low $4,671
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Southwest
$5,905up 36.5%up $1,579
high $7,418med $5,553low $3,824
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South Central
$3,407up 26.7%up $718
high $5,109med $3,353low $1,984
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Southeast
$5,705up 32.8%up $1,409
high $7,721med $5,468low $3,335
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AVERAGE VALUESall grades 1950−2011
19501954
19581962
19661970
19741978
19821986
19901994
19982002
20062010
$-
$1,000
$2,000
$3,000
$4,000
$5,000
$6,000
$7,000
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PERCENTAGE CHANGE from previous year, 1951−2011
%
%
%
%
%
%
%
%1950
19521954
19561958
19601962
19641966
19681970
19721974
19761978
19801982
19841986
19881990
19921994
19961998
20002002
20042006
20082010
-35
-25
-15
-5
5
15
25
35
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AVERAGE VALUESadjusted for inflation
19501954
19581962
19661970
19741978
19821986
19901994
19982002
20062010
$-
$1,000
$2,000
$3,000
$4,000
$5,000
$6,000
$7,000
$8,000
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PERCENTAGE CHANGE adjusted for inflation
19501952
19541956
19581960
19621964
19661968
19701972
19741976
19781980
19821984
19861988
19901992
19941996
19982000
20022004
20062008
2010-35.0%
-25.0%
-15.0%
-5.0%
5.0%
15.0%
25.0%
35.0%
Chart Title
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2011 AVERAGE VALUES
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PERCENTAGE CHANGE
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POSITIVE FACTORSaffecting land values
Commodity Prices
Interest Rates Best available investment
Yields Good farm economy
Money available0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
86%
62%
14% 14% 13% 11%
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NEGATIVE FACTORS affecting land values
Land pric
es too high
High input c
osts
Global eco
nomic co
nditions
Risk/v
olitalit
y in agric
ulture
Weath
er
US economic
conditions
Land A
vailabilit
y0%
5%
10%
15%
20%
25%
30%
35%
31%
25% 24%
19%
13% 12% 11%
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WHO PURCHASED farmland
Investors 22%
Existing Farmers
74%
New Farmers 3%
Others1%
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WHO PURCHASED farmland
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
Farmers Investors New Farmers Other
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SALES ACTIVITYrelative to previous year
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
0%
10%
20%
30%
40%
50%
60%
70%
More Less Same
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sales activity from previous yearCHANGE IN
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SUMMARY• 32.5% is highest percentage increase
ever reported
• $6,708 is all-time high inflation adjusted average value
• An interesting time, many factors to watch
• Not a time to panic
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For more information, visit
www.extension.iastate.edu/topic/landvalue