Farmland values continued to climb in many areas in 2024, but the increases were more modest compared with recent years. Experts say prices are likely to dip in 2025.
“It’s a mixed bag,” says Steve Bruere, president of Peoples Co., an integrated land solutions firm headquartered in Des Moines, Iowa. “For every sale you think might be a little weaker, there’s another one the next day that’s incredibly strong. But there’s just not as much strength in the market right now. You can just feel that with the number of people participating in the auctions and the number of bids, and when you’re talking to folks. They’re just not as aggressively pursuing land right now.”
Bruere says there is a lot of pessimism in the market, as the farm economy has weakened and sale prices aren’t as high as they were even earlier this year.
USDA
In the Land Values 2024 …