Several stagnant properties in Iowa are raising concerns among analysts about the resilience of farmland values in the state.
According to Jim Rother-Mitch of Iowa Appraisal, speaking to Brownfield Ag News, there has been a notable increase in the number of properties failing to sell due to reserve prices not being met, with nine instances reported last month alone. This surge represents a significant uptick from the previous year, signaling potential challenges in the agricultural real estate market.
Rother-Mitch also notes a rise in the overall number of property listings, attributing this trend to a combination of low commodity prices and high-interest rates. While there are still instances of strong sales, he identifies a softening in the market reminiscent of patterns observed a decade ago.
