Spencer, IA: (Oct 26, 2012) - A new record high price for Iowa farmland was set on Thursday.
 
Unidentified buyers, described as local farmers, paid $21,900 per acre for the 80 acre parcel near Sanborn in Sioux County. That topped the old record high of $20,000 per acre paid last year, also in Sioux County.
 
Owner Henry Boelsma, in a bit of an understatement, said he was “very happy” with the sale.
 
It is a good piece of ground. It has a Corn Suitability Raring (CSR) of 84.1. It was described as a “well cared for eighty" that routinely yields 200 bushel corn and 60 bushel per acre soybeans.
 
The sale isn’t isolated. On Tuesday, another Sioux County tract sold for $19,100; a 74 acre parcel near Carroll sold last week for $16,000 per acre; and an O’Brien County farm near Sheldon earlier this month brought $15,400 per acre.