Land Prices in the month of June continued to peak even though more land has become available for purchase. Scarcity remains a driving force for land that has not been available to purchase in decades, or in some cases over a century. Historically low interest rates, commodity prices and available cash continue to be driving buyers to buy, and prices pushing sellers to sell.
We had many sales in the month of June in the recreational, agricultural, and rural home categories. The highest prices were achieved at various auction methods and public listings depending on the type or use of property and the area it was located in. A couple highlights of the month were a record breaking auction High Point held in Dubuque County, IA. This sale is believed to be the highest agricultural zoned property ever to be sold at auction with tract one selling for over $30,000 per acre after the 2% buyers premium. This land had just been annexed into the city of Dubuque and had many buyers with different use intentions bidding on the opportunity to purchase. (Watch the full auction here)
High Point also had a very successful sale of nearly 400 acres in Eau Claire County, WI, 245 acres in Knox County, MO and a 120 acre sale in Winneshiek County, IA selling a primarily recreational tract for over $10,400/ac! When the land market is strong selling at auction can be a very strong strategy for obtaining top dollar, however, it is very important the sale be marketed and potentially offered in a specific way.
In addition, we started a new video series talking about everything land with Mr. Bill Winke. If you want to check it out, subscribe to our YouTube channel for the weekly episode releases here.
The land market has remained strong for the time being. If you or someone you know is interested in land for sale or selling land in IA, WI, MN, CO or MO give one of our licensed real estate agents or auctioneers a call today. They are an incredible resource for everything land in their service areas and would be happy to answer any questions you may have.