Rec land prices in IA seem to have gone absolute bananas in the past year. I thought I finally was in position to buy something 50-80 acres, but not anymore. Prices seem to have jumped from $2900/acre or so on the low end to $4500/acre high end to now hardly seeing anything listed for less than $4500/acre, many 80 and smaller sizes are up over 5k/acre and not very many listings either.
Look at this that I just saw posted yesterday, this is insane, not even income on this and a road cuts through it. There has to be a correction soon I would think. The past decade it seemed $3200-$3800/acre was the norm. There's hardly anything under 4k now.
Section 29 of Liberty TWP - Plentiful Wildlife - Several Exceptional Building Sites - Established Pond - 15 Minutes South of Indianola
landproz.com