Land for the month of December in Minnesota, Iowa, and Wisconsin was very stable. Land prices continued along the trend line that we saw for much of the year being very steady with few dramatic changes. If a property sold very high or very low in price, it was due to either very desirable features or quality or lack thereof.
Land Prices for Timber land ranged from $3,000-$6,000/acre. The quality of the hunting, access, timber itself, buildable sites, and water all played big roles in the value at which the property traded. In Minnesota we see recreational or timber land trading between $3,000-$4,000/acre and in Iowa and Wisconsin between $4,000-$6,000/acre. When we put buildings or tillable income producing acres into the mix, we add those benefits to the price of the overall property.
Tillable farmland traded from a range of $4,500-$11,000/acre this again was based on many features including size of the farm, quality of the soil, drainage, access to the fields, rental income, or restrictions on the property. Tillable land in Iowa traded with the widest range due to our service area, including hill county and high-quality flatland whereas Minnesota and Wisconsin were tighter ranging $5,000-$7,500/acre for most of our service area.
Factors of interest currently affecting land prices are Interest Rates, China Trade Deal, 1031 exchanges out of other real estate and the stock market.
If you or someone you know is interested in Buying or Selling land in Minnesota, Iowa, or Wisconsin; give one of our agents a call today.
Thank you all for another year. Our company continues to grow leaps and bounds due to our wonderful clients and we want to thank you for your trust, referrals and business in 2019 and the future.
― High Point Realty & Auction