Farmers National Company Iowa Land Sales Reach New Peaks

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Feb 18, 2022, 10:11 ET

OMAHA, Neb., Feb. 18, 2022 /PRNewswire/ -- Increasing land prices coupled with more farms being sold created new peaks in real estate sales in Iowa during 2021 for Farmers National Company. The amount of land sold by the company was up 152 percent over the previous year, with auction sales up 129 percent.

"Iowa was the focus in the land market last year with the monumental jump in sales prices for good cropland and in the number of farms sold across the state," said Randy Dickhut, senior vice president of real estate operations for Farmers National Company

"Our agents and auction teams were busy the whole last half of the year and especially the last three months of the year. We auctioned five times more land during the last part of 2021 than we did the last quarter of 2020," added Brian Mohr, area real estate sales manager for Farmers National Company.

Higher grain prices, past government payments, better yields than first thought, and stronger farm incomes prompted increased demand for good cropland in Iowa last year. The stronger financial condition of farmers prompted their renewed interest in buying land.

Increasing land prices and the once assumed potential for changes in tax laws affecting real estate sales brought more landowners to sell their farmland. Sellers remained the normal estates, trusts, and non-farming families.

"The numerous ways Farmers National sells farms was uniquely suited to the competitive bidding we experienced in Iowa last year," according to Tom Schutter, assistant area real estate sales manager. "Our ability to do simulcast auctions broadcasting live and online bidding at the same time brought the best sales prices for our sellers."

Mohr believes the land market will be active in 2022: "Land sales activity normally slows down somewhat during late winter leading up to spring planting. However, our pipeline of listings and auctions in Iowa for the next few months is busy."

Farmers National Company, an employee-owned company, is the nation's leading agricultural landowner services company. Farmers National Company manages more than 5,000 farms and ranches in 29 states comprising more than 2 million acres. Over the last five years, Farmers National Company has sold 3,938 properties (1,404 at auction) and more than $5.02 billion of real estate during the last 10 years. Additional services provided by the company include auctions, appraisals and valuation services, insurance, consultation, oil and gas management, a national hunting lease program, forest resource management, and FNC Ag Stock. For more information on our company and the services provided, visit www.FarmersNational.com.

SOURCE Farmers National Company