(Remsen) — Land values have been on the rise for the last couple of years, and within the last three months, local land values have increased nearly 15 percent or more. A new record was set Friday morning for land sold in Plymouth County.
A parcel of land measuring nearly 126 acres sold for the record bid of $20,075 an acre. The total price was $2,520,817 and 75 cents. More than 100 people attended the land auction which was held at the American Bank of Remsen. The property was sold by Jim Klein of Klein Realty and Auction Company of Remsen, as part of the Iowa Auction Group. Klein says the property was located on the edge of town of Remsen, which made it more appealing to prospective buyers.
Klein says the auction had a lot of curious on-lookers, but it also attracted several serious bidders.
Klein believes the ground will remain as farm ground, although it is near land that has already been annexed by the city of Remsen for possible future development.
Klein says the land was from the Jim and Jeanette Boever estate.
The auctioneer says good commodity grain prices have sparked interest in having farmers look to access additional acres with the result being higher land values.
The successful bidder wanted to remain anonymous but, Klein says it was a local person that purchased the ground at a new Plymouth County record price per acre. Again, the record bid was listed at $20,075 an acre for nearly 126 acres of ground with the price tag of more than two point 52 million dollars.