Throughout central and southern Illinois, farmland values were generally stable, increasing 2.07% overall from last year. While land values remain steady, this is the second consecutive year of a slight increase in values. When considering the 20 benchmarks individually, the year-over-year percentage changes ranged from –3.93 to +7.20%.

The listing includes results for 30 different farmland auctions reported since the last results were published in February 2020. These public auctions concluded with successful bids and represented 2,175 total acres in 11 different counties selling for a grand total of $16.32 million with an average price of $7,505 per acre. The highest price per acre was $14,00 for Class A land in Greene County; the lowest price per acre was $2,700 for Class C land in Cass County.

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For the last four years, the land value benchmark study completed by FCI each summer has shown an overall decline in value. But in certain cases, values have risen year after year. What factors affect the overall trend in your local market?