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Iowa Cropland Values Show Continued Stability The Land Trends and Value Survey, presented by the Iowa Farm and Land Chapter #2 REALTORS Land Institute, reported a statewide average decrease of 1.0% for tillable cropland values from September 2018 to March 2019. In our east central district, high quality cropland is selling at $10,041 per acre, or at the second highest rate in the state. Timber is selling at $2,267 per acre. “Despite several years of low commodity prices the land market is remaining surprisingly strong,� said Eric Schlutz, ALC, Realtor and manager of the Ruhl&Ruhl Realtors Muscatine Office. “The tight supply and the appeal of land to long-term investors

has provided the support to keep prices relatively stable.� For the survey, participants are asked to estimate the average value of farmland as of March 1, 2019. These estimates are for bare, unimproved land with a sale price on a cash basis. Pasture and timberland values were also requested as supplemental information. Ruhl Farm&Land, a division of Ruhl&Ruhl Realtors, is focused on the sale, purchase and marketing of land, farms and acreages. For more information, and the price per acre of cropland in all nine Iowa districts, visit RuhlLand.com.

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East Central

$10,041/acre

$7,321/acre

$4,619/acre

$2,267/acre

Northeast

$9,434/acre

$7,207/acre

$4,707/acre

$2,814/acre

Southeast

$9,693/acre

$6,507/acre

$4,006/acre

$2,489/acre

Iowa Farm Land values in Dollars Per Acre for March 2019. See full chart at RuhlLand.com.

Through March

Burlington Area (Southeast Iowa Regional Board of Rea Cedar Rapids Area (Cedar Rapids Area Assoc. of Real Southeast Cedar Rapids Northeast Cedar Rapids Southwest Cedar Rapids Northwest Cedar Rapids Hiawatha & Robins Marion East of I-380: Mechanicsville, Anamosa, Mt. Vernon, Lis West of I-380: Walford, Fairfax, Atkins, etc. Corridor Area: Solon, Ely, Swisher Condominiums Clinton/Camanche/Fulton Area (Quad City Area Realt DeWitt Area (Quad City Area Realtors) Dubuque Area (East Central Iowa Association of Real Dubuque North, South and West Dubuque Illinois Wisconsin Galena & Galena Territory (Realtor Assoc. of Northwe

Galena Galena Territory Galesburg Area (Capital Area Association of Realtors) Illinois Quad Cities (Quad City Area Realtors) Rock Island Milan & Rural Rock Island County Moline

Home Price Appreciation Remains Steady Five-year home appreciation in our region was between 9.80% and 19.14% with almost all of our regional Metropolitan Statistical Areas experiencing a positive gain. “House prices rose throughout 2018 but at a slower rate than in recent years,� said Dr. William Doerner, Supervisory Economist, FHFA. “In the fourth quarter, house price appreciation hit one of the lowest levels in the past four years.� In the past year, home prices have changed: +1.27% in Dubuque; +5.40% in Iowa City; +3.59% in Cedar Rapids; and -0.62% in the Quad Cities. This Metropolitan Statistical Areas (MSAs)

Cedar Rapids, IA Davenport-MolineRock Island, IA-IL Des MoinesWest Des Moines, IA Dubuque, IA Iowa City, IA USA

compares to other cities: Des Moines +5.16% and Chicago +3.04%. Of course, there is considerable variation based on price range and location of properties, with more affordable properties appreciating more. “Although one-year home appreciation has slightly slowed across our region, home prices still remain stable,� said Caroline Ruhl, CEO of Ruhl&Ruhl Realtors. “We are still experiencing strong buyer demand in the affordable price points, so if you are looking to sell, contact a Ruhl&Ruhl agent for a free market analysis.�

Percent Change in House Prices 1 Year 5 Year

East Moline & Silvis Port Byron, Upper Rock Island County Mercer County Henry County Condominiums Iowa Quad Cities (Quad City Area Realtors) Davenport Bettendorf & Riverdale Blue Grass, Buffalo, Durant & Walcott LeClaire, Pleasant Valley & Princeton North Scott County Miscellaneous Condominiums Iowa City Area (Iowa City Area Assoc. of Realtors) Iowa City Coralville Northwest Iowa City

2018 4th Quarter National Ranking of 245 MSAs*

Northeast Iowa City Southwest Iowa City

Southeast Iowa City

+3.59%

+13.75%

196

-0.62%

+9.80%

242

+5.16%

+25.14%

160

Condominiums

+1.27% +5.40% +5.73%

+13.74% +19.14% +32.81%

231 153

Muscatine

Information courtesy of Federal Housing Finance Agency (FHFA) for fourth quarter 2018. FHFA stats always run one quarter behind. Their full report is accessible at www.fhfa.gov. *Rankings based on annual percentage change in house prices.

4 • RuhlHomes.com

Coal Valley, Rural Moline, Miscellaneous

Corridor Area Miscellaneous Muscatine & Wilton Area (Muscatine Board of Realtor Wilton Muscatine Outlying Condominiums

Southwest Wisconsin Area (S. Central Wisconsin MLS

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Cheryl Piersall Facts and Trends Spring 2019  

Cheryl Piersall Facts and Trends Spring 2019  

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