Nevada, Iowa — A survey from the Iowa Realtors Land Institute shows farmland values dropped almost nine-percent from a year ago. Iowa’s average farmland value is now just under 65-hundred dollars an acre.
In September of 2013, the average acre was worth 87-hundred-50 dollars. Kyle Hansen, at Hertz Real Estate Services says the decrease is tied to lower commodity prices.
He says their projections indicate farmland values will continue on the down-swing for perhaps another year.
Hansen says the strongest farmland values in Iowa are still in the northwest, where there was a three-percent decrease.
He says the largest drop in farmland values was in southwest Iowa.