An update since March:
Iowa farmland values shot up an average of 12.9 percent during the past six months and an average of 32.6 percent for the year ended Sept. 1, according to a new survey by the Iowa Farm & Land Chapter No. 2 Realtors Land Institute.
The institute, which has been conducting twice-yearly surveys since 1978, placed the average value of medium quality crop land in Iowa at $6,477 an acre, up from $5,711 an acre in March.
Northeast Iowa had the largest average increase, 17 percent, during the six months, while Southeast Iowa had the lowest, 8.5 percent, the new survey showed.
The highest average value for high quality crop land was in Northwest Iowa, at $9,685, an increase of 14.9 percent since March.
The lowest average value for top quality crop land was in Southwest Iowa, at $7,555 an acre, an increase of 9.3 percent since March.
The five categories of land in the survey followed by estimated average statewide values per acre on Sept. 1, and the change since March 1 are:
High quality crop land: $8,330, up 13.3 percent.
Medium quality crop land: $6,477, up 13.4 percent.
Low quality crop land: $4,588, up 11.5 percent.
Non-tillable pasture: $2,309, up 4.9 percent.
Timber land: $2,019, up 2.7 percent.