The value of Iowa farmland dipped 5.4% during the six-month period ending in March, according to a new survey of land professionals.

The Iowa Farm & Land Chapter #2 Realtors Land Institute released the results of its March 2014 Iowa Land Trends and Values Survey. The Realtors Land Institute is an arm of the National Association of Realtors and is organized for realtors who specialize in farm and land sales, management and appraisal. All participants in the survey deal almost exclusively in farmland.

Survey finds 5.4% decline in Iowa farmland valuesParticipants were asked to estimate average values of farmland as of March 2014. The estimates are for bare, unimproved land with the sale price on a cash basis. Pasture and timber land values were also requested as supplemental information.