Archive for the ‘Real Estate News’ Category

Land Price Growth Continues: SW Wisconsin Land Sales Update

Land buyers continued to be very active during the spring months with about the same number of transactions closed and approximately 54% more acres sold compared to the first quarter of this year. It is interesting to note that the additional acreage sold was mainly wooded land which traditionally has held a lower value than tillable land. This makes the average price per acre for second quarter a telling analysis of market growth possibilities. SW Wisconsin land prices continue to appreciate with an average increase of 6.5% over first quarter ending up at $3,403/acre.

2nd Quarter 2014 SW Wisconsin Land Price Graph

Here are a few specific highlights:

  • Sauk County showed the most sales with 6 completed transactions and an average $/acre increase of $494 over 1st quarter 2014. Approximately 29% of the acreage sold was tillable farmland.
  • Crawford County completed the same number of sales as the previous quarter but realized and average increase of $130/acre ending up at $2721/acre.
  • Grant County continues to consistently bring in the highest price per acre of all the SW Wisconsin counties. Even though the average price was lower for 2nd quarter it remains well above $4000/acre at $4,334.
  • Vernon and Richland Counties both struggled to provide enough action to determine where those specific markets stand right now.

SW Wisconsin Rural Land Sales 6 Month Report

January 1, 2014 through June 30, 2014

Grant Iowa Lafayette Sauk
1st Qtr 2nd Qtr 1st qtr 2nd Qtr 1st Qtr 2nd Qtr 1st Qtr 2nd Qtr
# of sales* 7 3 2 3 2 4 4 6
# acres 429 207 148 284 185 298 226 1155
woods 57 31 60 244 11 75 102 787
tillable 279 177 47 23 138 123 52 336
pasture 91 0 30 6 14 10 72 10
wetland 1 0 10 10 20 90 0 21
avg $/acre $4,916 $4,334 $3,012 $3,669 $3,020 $2,915 $3,019 $3,513
 
Vernon Crawford Richland TOTAL
1st Qtr 2nd Qtr 1st Qtr 2nd Qtr 1st Qtr 2nd Qtr 1st Qtr 2nd Qtr
# of sales* 1 2 4 4 3 2 23 24
# acres 23 42 309 269 217 112 1537 2367
woods 6 0 199 230 177 97 612 1464
tillable 15 42 104 22 40 15 675 738
pasture 0 0 3 14 0 0 210 40
wetland 0 0 2 0 0 0 33 121
avg $/acre $3,397 $4,636 $2,591 $2,721 $2,412 $2,032 $3,195 $3,403

 

Buyers and sellers need to be aware that average sale prices are only a general guideline. An on-site property evaluation by an experienced land agent is needed to give you an accurate picture of what a property is worth in the current market. To learn more about the current land market in Southwest Wisconsin, begin your search here: Southwest-Wisconsin-Real-Estate.com

*SW Wisconsin includes Grant County, Lafayette County, Iowa County, Sauk County, Richland County, Crawford County, & Vernon County. All data was taken from the SCWMLS & WiREx. Because this article was intended to review the rural land market, properties smaller than 20 acres, residential, and commercial land sales were not included. Acreage breakdown may vary due to land remnants and other factors.

Land Market Stable Despite Harsh Winter: SW Wisconsin Land Sales Update

By Jay Frazier
For most of us harsh winter weather means staying indoors as much as possible, but land buyers generally weren’t deterred by our record setting cold winter during the 1st quarter. SW Wisconsin land transactions were nearly on par with last year’s 1st quarter numbers and average prices remain stable at nearly $3200 per acre.

SW Wisconsin Land Price Trends 2012 - 2014

Here are a few specific highlights:

  • Grant County showed the most sales with 7 completed transactions and an average $/acre increase of $603 over 4th quarter 2013. Approximately 65% of the acreage sold was tillable farmland.
  • Sauk County completed half as many sales as the previous quarter but realized an average increase of $246/acre ending up at $3019/acre.
  • Richland County had a very active 4th quarter in 2013 so experienced a drop in total sales but an increase in average prices to $2412/acre for the 1st quarter.
  • Vernon County seems to be the only SW Wisconsin County affected much by the season with only 1 transaction closed amounting to only 23 acres.

SW Wisconsin Rural Land Sales 6 Month Report

October 1, 2013 through March 31, 2014

Grant Iowa Lafayette Sauk
4th Qtr 1st Qtr 4th Qtr 1st qtr 4th Qtr 1st Qtr 4th Qtr 1st Qtr
# of sales* 6 7 5 2 0 2 8 4
# acres 426 429 388 148 0 185 540 226
woods 171 57 312 60 0 11 303 102
tillable 222 279 45 47 0 138 206 52
pasture 30 91 30 30 0 14 20 72
wetland 0 1 1 10 0 20 9 0
avg $/acre $4,313 $4,916 $3,441 $3,012 $4,708 $3,020 $2,773 $3,019
Vernon Crawford Richland TOTAL
4th Qtr 1st Qtr 4th Qtr 1st Qtr 4th Qtr 1st Qtr 4th Qtr 1st Qtr
# of sales* 3 1 8 4 11 3 41 23
# acres 108 23 489 309 785 217 2736 1537
woods 95 6 379 199 661 177 1921 612
tillable 8 15 75 104 114 40 670 675
pasture 4 0 32 3 10 0 126 210
wetland 0 0 2 2 0 0 12 33
avg $/acre $2,304 $3,397 $2,731 $2,591 $2,303 $2,412 $3,225 $3,195


Buyers and sellers need to be aware that average sale prices are only a general guideline. An on-site property evaluation by an experienced land agent is needed to give you an accurate picture of what a property is worth in the current market. To learn more about the current land market in Southwest Wisconsin, begin your search here: www.Southwest-Wisconsin-Real-Estate.com

*SW Wisconsin includes Grant County, Lafayette County, Iowa County, Sauk County, Richland County, Crawford County, & Vernon County. All data was taken from the SCWMLS & WiREx. Because this article was intended to review the rural land market, properties smaller than 20 acres, residential, and commercial land sales were not included. Acreage breakdown may vary due to land remnants and other factors.

SW Wisconsin Land Sales Update: Prices Hold Steady in 4th Quarter

By Jay Frazier
Throughout the first three quarters of 2013 the average land sale price in SW Wisconsin made steadfast gains increasing 27.8% from January through September. Now that the 4th quarter has ended we can say that the land market finished the year on a much higher note than it began.

2012-2013 Land Price Comparison

In the 4th quarter of 2013 we saw the average price-per-acre slip about 2% from 3rd quarter ending up at $3,225. The slight dip in price could be due to less farmland being sold which usually has been bringing a higher price-per-acre than other types of land. Farmland comprised about 24% of the total acreage sold in the 4th quarter compared to the norm of 30-35%. This change in buyer activity may be influenced by lack of farmland availability, interest rates, or the lower commodity prices in the second half of 2013.

I think it is noteworthy that the number of transactions completed in the 4th quarter increased 46% over 3rd quarter and total acres sold increased 33% all while prices held mostly steady. This hike in buyer activity without losing the price gains made in the first three quarters suggests the southwest Wisconsin rural land market is pretty healthy going forward into 2014.

SW Wisconsin Rural Land Sales 3rd & 4th Quarters 2013

Grant Iowa Lafayette Sauk
3rd Qtr 4th Qtr 3rd Qtr 4th Qtr 3rd Qtr 4th Qtr 3rd Qtr 4th Qtr
# of sales* 6 6 4 5 2 0 5 8
# acres 513 426 291 388 215 0 274 540
woods 201 171 186 312 75 0 212 303
tillable 279 222 95 45 85 0 61 206
pasture 33 30 8 30 55 0 0 20
wetland 0 0 0 1 0 0 0 9
avg $/acre $3,769 $4,313 $2,970 $3,441 $4,708 $4,708 $3,845 $2,773
Vernon Crawford Richland TOTAL
3rd Qtr 4th Qtr 3rd Qtr 4th Qtr 3rd Qtr 4th Qtr 3rd Qtr 4th Qtr
# of sales* 1 3 3 8 7 11 28 41
# acres 21 108 263 489 481 785 2058 2736
woods 21 95 182 379 376 661 1253 1921
tillable 0 8 33 75 73 114 626 670
pasture 0 4 43 32 26 10 165 126
wetland 0 0 5 2 0 0 5 12
avg $/acre $2,380 $2,304 $2,826 $2,731 $2,564 $2,303 $3,295 $3,225


Buyers and sellers need to be aware that average sale prices are only a general guideline. An on-site property evaluation by an experienced land agent is needed to give you an accurate picture of what a property is worth in the current market. To learn more about the current land market in Southwest Wisconsin, begin your search here: Southwest-Wisconsin-Real-Estate.com

*SW Wisconsin includes Grant County, Lafayette County, Iowa County, Sauk County, Richland County, Crawford County, & Vernon County. All data was taken from the SCWMLS & WiREx. Because this article was intended to review the rural land market, properties smaller than 20 acres, residential, and commercial land sales were not included. Acreage breakdown may vary due to land remnants and other factors.

SW Wisconsin Land Sales Update: Prices Continue To Climb

By Jay Frazier

The rural land market in SW Wisconsin made another moderate price gain during the third quarter increasing $202/acre over 2nd quarter to average $3,295 per acre. The average price-per-acre for the entire region increased 6.5% over 2nd quarter to make for an overall increase of 27.8% since December. If prices continue this trend through the 4th quarter, the land market could attain pre-bust prices by the end of the year.

SW Wisconsin Land Sales Price Trends 3rd Quarter 2013

There continues to be lower inventory than we’ve been accustomed to across most of the region especially in Lafayette County. Because of the law of supply and demand, this generally helps to drive prices upward. High commodity prices have been another factor driving farmland prices to all-time highs. It will be interesting to see how the recent drop in corn prices affects this portion of the market in the 4th quarter and beyond.

SW Wisconsin Rural Land Sales 2nd & 3rd Quarters 2013

Grant Iowa Lafayette Sauk
2nd Qtr 3rd Qtr 2nd Qtr 3rd Qtr 2nd Qtr 3rd Qtr 2nd Qtr 3rd Qtr
# of sales* 10 6 5 4 0 2 11 5
# acres 1297 513 347 291 0 215 745 274
woods 844 201 119 186 0 75 337 212
tillable 327 279 197 95 0 85 335 61
pasture 117 33 26 8 0 55 62 0
wetland 0 0 2 0 0 0 8 0
avg $/acre $2,967 $3,769 $3,270 $2,970 $4,630 $4,708 $3,494 $3,845
Vernon Crawford Richland TOTAL
2nd Qtr 3rd Qtr 2nd Qtr 3rd Qtr 2nd Qtr 3rd Qtr 2nd Qtr 3rd Qtr
# of sales* 3 1 3 3 7 7 39 28
# acres 142 21 425.7 263 816 481 3772.7 2058
woods 115 21 288.9 182 514 376 2217.9 1253
tillable 5 0 136.8 33 219 73 1219.8 626
pasture 22 0 0 43 58 26 285 165
wetland 0 0 0 5 0 0 10 5
avg $/acre $2,381 $2,380 $2,316 $2,826 $2,591 $2,564 $3,093 $3,295

 
Buyers and sellers need to be aware that average sale prices are only a general guideline. An on-site property evaluation by an experienced land agent is needed to give you an accurate picture of what a property is worth in the current market. To learn more about the current land market in Southwest Wisconsin, begin your search here: Southwest-Wisconsin-Real-Estate.com

*SW Wisconsin includes Grant County, Lafayette County, Iowa County, Sauk County, Richland County, Crawford County, & Vernon County. All data was taken from the SCWMLS & WiREx. Because this article was intended to review the rural land market, properties smaller than 20 acres, residential, and commercial land sales were not included. Acreage breakdown may vary due to land remnants and other factors.

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SW Wisconsin Land Sales Update: Prices Increase Again

By Jay Frazier

Six of the seven SW Wisconsin counties saw an average price increase from 1st quarter to 2nd quarter this year putting the land market recovery on fairly firm ground. The average price-per-acre for the entire region is up 20% from December when we saw the market bottom out.

 

Land Price Trends 2nd Quarter 2013 CHART

 

Land market indicators predict that prices will continue their moderate climb this year. The number of transactions however has been on the decline. First quarter transactions were down 50% over the same quarter in 2012 and it’s the same story for 2nd quarter when transactions were down 49% for the region. The excess inventory of 2012 is gone and now lower inventory is helping to drive the improved market upward.

 

Southwest Wisconsin 1st & 2nd Quarter 2013

Grant Iowa Lafayette Sauk
1st qtr 2nd qtr 1st qtr 2nd qtr 1st qtr 2nd qtr 1st qtr 2nd qtr
# of sales* 2 10 4 5 5 0 3 11
# acres 179 1297 147 347 244 0 107 745
woods 99 844 102 119 46 0 101 337
tillable 74 327 24 197 150 0 6 335
pasture 0 117 2 26 50 0 0 62
wetland 0 0 19 2 0 0 0 8
avg $/acre $2,622 $2,967 $3,174 $3,270 $4,630 $4,630 $2,132 $3,494
Vernon Crawford Richland TOTAL
1st qtr 2nd qtr 1st qtr 2nd qtr 1st qtr 2nd qtr 1st qtr 2nd qtr
# of sales* 1 3 5 3 5 7 25 39
# acres 100 142 336 425.7 408 816 1521 3772.7
woods 75 115 231 288.9 302 514 956 2217.9
tillable 25 5 96 136.8 86 219 461 1219.8
pasture 0 22 20 0 20 58 92 285
wetland 0 0 0 0 0 0 19 10
avg $/acre $2,231 $2,381 $2,579 $2,316 $2,537 $2,591 $2,844 $3,093

 

Buyers and sellers need to be aware that average sale prices are only a general guideline. An on-site property evaluation by an experienced land agent is needed to give you an accurate picture of what a property is worth in the current market. To learn more about the current land market in Southwest Wisconsin, begin your search here: www.RuralPropertyPro.com

*SW Wisconsin includes Grant County, Lafayette County, Iowa County, Sauk County, Richland County, Crawford County, & Vernon County. All data was taken from the SCWMLS & WiREx. Because this article was intended to review the rural land market, properties smaller than 20 acres, residential, and commercial land sales were not included. Acreage breakdown may vary due to land remnants and other factors.

Real Estate Dreams

Recently, I had a lady tour my website and fill out a form which said:

“To be honest, I have no current plans to buy, just like to look and dream!”

That started me thinking about real estate and how it’s uniquely tied to virtually everyone’s dreams. Whether we’re looking for a New York apartment with an additional one hundred square feet or a thousand acres of prime hunting land, nearly everyone has a “real estate dream”.

Real Estate Dreams

The interesting thing is that our real estate dreams change as we move through life. The pride of ownership in the little starter home begins to dim as children arrive and we feel cramped. At that point, our dream property may just be something with 3 bedrooms, 2 baths and a fenced yard for the family pet. As time progresses the real estate dream continues to mature and maybe a house on the lake or a hunting property is the current goal. Retirement often brings downsizing and the house on the lake may become the permanent residence with the family home being put on the market. And so it goes. Changes occur throughout our life, but one of the things that remain constant is the real estate dream.

The great thing about real estate is that when your dream property no longer fits your needs, it is still someone else’s perfect place. I’ve found over the years that no matter how many buyers turn up their noses at a property, there will always be someone that simply loves it! Also, unlike your 10 year old car that was the must-have when you bought it but is worth little today, real estate remains a great investment.

Dream Home

The bottom line is that real estate dreams are what make my chosen profession challenging yet so rewarding. The search for the dream property for some of my clients has taken a year or more and at times the dream has changed over the course of the search. Just as a hunting guide works hard for a client to locate and collect a trophy, I work hard for my loyal clients to find and acquire their trophy property. It’s a long road at times but when it’s finished, it’s very rewarding to be able to share their happiness.

So as I told the lady viewing my website, I think everyone has a dream property so please dream away and if I can be of assistance in the future, just let me know.

“You are never too old to set another goal or to dream a new dream.” -C.S.Lewis

If your real estate dream includes property in southwest Wisconsin, begin your search here: www.Southwest-Wisconsin-Real-Estate.com

By: Jay Frazier

SW Wisconsin Land Sales Update: 4th Quarter Sales Up 12%

The year finished strong with a large number of transactions closing in the 4th quarter.  Total land sales in SW Wisconsin were up 12% compared to the 4th quarter of 2011 with Iowa County realizing the largest sales increase.  Over 1,000 acres changed hands in Iowa County between October 1st and December 31st.  The average sold price-per-acre dropped significantly in conjunction with this big jump in sales for Iowa County (from $3892 in the 3rd quarter down to $3093).  Since the tillable to wooded ratio remained fairly constant it would appear that Iowa County prices are aligning themselves more closely with the rest of SW Wisconsin.  Buyers took advantage of this trend as evidenced by the high number of transactions and acres sold.

4th Qtr Land Sales Chart

Prices were fairly even across the region with an average price per acre of $2546.  However, when comparing this to the average price per acre of the last quarter in 2011, it is down by almost 12%.  This continues the downward trend we saw in the 3rd quarter and was influenced by several factors.  Sellers were quite motivated to close in 2012 due to the uncertainty of capital gains tax changes for the New Year.  Also, buyer demand held fairly steady for properties priced near the current market value.

4th Quarter 2012 Land Prices Chart

The land price decline through 2012 taken together with the increase in sales would indicate the land market is still in recovery mode.  With the exception of farmland, average land prices in SW Wisconsin still struggle to make significant gains.  On the positive side, the higher transaction numbers in 2012 helped reduce a lot of excess inventory which clears the way for building stronger buyer demand and higher per acre prices in 2013.

Below is a summary of land sales by county (data from SCWMLS & WiREx):

GRANT 4th   Quarter LAFAYETTE 4th   Quarter
2012 2011 2012 2011
# of sales 7 4 # of sales 3 6
total acres sold 335 406 total acres sold 383 864
Avg $/acre $2,313 $2,921 Avg $/acre $2,765 $4,283
RICHLAND SAUK
# of sales 7 10 # of sales 6 5
total acres sold 367 1082 total acres sold 349 127
Avg $/acre $2,588 $1,941 Avg $/acre $2,729 $3,175
CRAWFORD VERNON
# of sales 3 5 # of sales 9 8
total acres sold 216 272 total acres sold 618 417
Avg $/acre $2,576 $1,846 Avg $/acre $2,420 $2,544
IOWA TOTAL for all 7 COUNTIES
# of sales 11 3 # of sales 46 41
total acres sold 1016 145 total acres sold 3284 3313
Avg $/acre $3,093 $4,328 Avg $/acre $2,641 $3,005

To learn more about the current land market in Southwest Wisconsin, begin your search here: Southwest-Wisconsin-Real-Estate.com

All data was taken from the SCWMLS & WiREx. Because this article was intended to review the rural land market, properties smaller than 15 acres, residential, and commercial land sales were not included. Acreage breakdown may vary due to land remnants and other factors.

Hunting Land In SW Wisconsin

Hunting of most any type has been a long standing tradition in Wisconsin, but deer hunting especially brings enthusiasts to a fever pitch. Much of southwest Wisconsin is prime whitetail deer habitat, so every November the blaze orange army descends on rural areas to seek out these critters. Hunters and non-hunters alike observe the opening day of the gun hunting season with revered traditions. For those not in the know, beware of planning any special events on this day; deer hunting will be the top priority.

Whitetail Deer

I captured this photo of a whitetail buck with a game camera
a couple weeks ago as he walked by my hunting spot.

The geography of southwest Wisconsin having agricultural fields intertwined with wooded hillsides creates a whitetail utopia. While Wisconsin has preserved over 62,000 acres for public hunting in the southwest portion of the state, it can often feel crowded in those woods. With license sales exceeding 600,000 it’s bound to be difficult to find a place on public lands where you don’t see another hunter during a morning stand.

Whitetail Buck game camera

Another game camera photo captured at night with infrared light.

I take deer hunting pretty seriously as my wife will attest. Bow hunting is a passion of mine and from it I have learned you can vastly improve the quality of your hunt by managing the land specifically for deer. Approximately half of the buyers I work with every year are seeking their own hunting paradise with habitat management in mind. Additionally, they are making a long term investment in farmland and/or timberland while providing a wealth of outdoor opportunities for camaraderie and experiences worthy of mention in any memoir.  Perhaps this facet of the real estate market is fairly small in the grand scheme of things but here in southwest Wisconsin the hunting culture makes a strong impact.

Real Estate is also something I take very seriously. Connecting sellers and buyers to create a successful transaction is a challenge I readily accept, especially when the hills and valleys of SW Wisconsin are at the heart of it.

Oak Tree Richland County WI

Whitetail Utopia in Richland County Wisconsin

The southwest Wisconsin hunting land region discussed here covers these counties: Grant County, Crawford County, Vernon County, Richland County, Sauk County, Iowa County, Lafayette County

SW Wisconsin Land Sales Update: 3rd Quarter Sales Up But Prices Slip Slightly

This past summer will long be remembered for the drought that affected much of the country as well as the record high temperatures.  Perhaps this had some effect on land sales; but when studying the numbers for southwest Wisconsin, it doesn’t appear to have had much effect if any.  Last quarter we saw both the number of sales and the price per acre of rural land inch upward.  For 3rd quarter we still have increased sales, but the price per acre slipped about 5% over 2011 prices. It’s interesting to note that prices have declined slightly even since the beginning of this year so we are experiencing a dip in the road to recovery as far as prices go.

3rd Qtr Sales Graph

Land buyers continue to be much more active this year than last.  Five of the seven counties in this area saw an increase in the number of sales with Grant County leading the way.  Overall land transactions are up 47% for the 3rd quarter compared to the same period last year.

Only Vernon County realized an increase in price per acre for the 3rd quarter.  The other 6 counties studied experienced a decline in price per acre. An interesting side note to pricing involves the list to sale price ratio.  As the number of sales goes up, so has the list to sale ratio from 89% to 92%.  I think this reflects the willingness of sellers to bring their asking price more in line with current market conditions.  Buyers have spoken loud and clear with their dollars during the first 3 quarters of this year.  They are ready, willing, and able to buy parcels that represent a good value.

Below is a summary of land sales by county (data from SCWMLS & WiREx).

GRANT 3rd Quarter LAFAYETTE 3rd Quarter
2012 2011 2012 2011
# of sales 10 1 # of sales 3 2
total acres sold 923 22 total acres sold 99 391
Tillable acres 381 0 Tillable acres 0 302
Wooded acres 492 22 Wooded acres 43 50
Pasture acres 90 0 Pasture acres 49 0
Wetland acres 0 0 Wetland acres 7 0
$/acre $2,839 $2,954 $/acre $3,051 $3,519
RICHLAND 3rd Quarter SAUK 3rd Quarter
2012 2011 2012 2011
# of sales 5 6 # of sales 5 4
total acres sold 277 822 total acres sold 562 149
Tillable acres 36 380 Tillable acres 145 55
Wooded acres 231 391 Wooded acres 367 92
Pasture acres 10 57 Pasture acres 46 0
Wetland acres 0 0 Wetland acres 5 0
$/acre $2,580 $2,639 $/acre $3,200 $3,766
CRAWFORD 3rd Quarter VERNON 3rd Quarter
2012 2011 2012 2011
# of sales 3 2 # of sales 4 6
total acres sold 158 242 total acres sold 155 267
Tillable acres 34 55 Tillable acres 40 65
Wooded acres 118 187 Wooded acres 115 191
Pasture acres 0 0 Pasture acres 0 6
Wetland acres 0 0 Wetland acres 0 2
$/acre $2,185 $2,310 $/acre $2,900 $2,400
IOWA 3rd Quarter TOTAL for all 7 COUNTIES 3rd Quarter
2012 2011 2012 2011
# of sales 4 2 # of sales 34 23
total acres sold 176 340 total acres sold 2350 2233
Tillable acres 49 182 Tillable acres 685 1039
Wooded acres 52 115 Wooded acres 1418 1048
Pasture acres 57 29 Pasture acres 252 92
Wetland acres 18 0 Wetland acres 30 2
$/acre $3,892 $4,217 Avg $/acre $2,950 $3,115

 

To learn more about the current land market in Southwest Wisconsin, begin your search here: RuralPropertyPro.com

All data was taken from the SCWMLS & WiREx. Because this article was intended to review the rural land market, properties smaller than 15 acres, residential, and commercial land sales were not included.

SW Wisconsin Land Sales Update: 2nd Qtr Continues Upward Trend

Last quarter we saw both the number of sales and the price per acre of rural land inch upward and that trend continued into the 2nd quarter this year in southwest Wisconsin. There is still a lot of inventory on the market, but buyers are very active and quickly snap up parcels that represent a good value.
2nd qtr graph
Five of the seven counties in this area saw an increase in the number of sales with Sauk County leading the way. Overall land transactions are up 48% for the 2nd quarter compared to 2011. Four of the seven counties also realized a price per acre increase during the 2nd quarter compared to the same time period a year ago. The average price per acre for the whole area increased 3.5% since last year so prices are slowly strengthening.

We can confidently say the market is recovering nicely although it will probably be some time before we return to a market like we saw in 2006. In my own business I am seeing multiple offers as well as shorter days on the market. These are two more characteristics of an improving market.

Below is a summary of land sales by county. (data from SCWMLS)

GRANT 2nd Quarter LAFAYETTE 2nd Quarter
2012 2011 2012 2011
# of sales 7 11 # of sales 9 3
total acres sold 615 1337 total acres sold 581 139
Tillable acres 308 516 Tillable acres 294 49
Wooded acres 238 701 Wooded acres 129 30
Pasture acres 50 114 Pasture acres 105 63
Wetland acres 0 0 Wetland acres 43 0
$/acre $3,417 $2,278 $/acre $3,961 $3,177
RICHLAND 2nd Quarter SAUK 2nd Quarter
2012 2011 2012 2011
# of sales 10 11 # of sales 12 5
total acres sold 786 465 total acres sold 510 163
Tillable acres 207 210 Tillable acres 209 3
Wooded acres 473 148 Wooded acres 251 147
Pasture acres 106 43 Pasture acres 26 10
Wetland acres 0 16 Wetland acres 20 3
$/acre $1,965 $2,509 $/acre $3,544 $4,337
CRAWFORD 2nd Quarter VERNON 2nd Quarter
2012 2011 2012 2011
# of sales 10 3 # of sales 3 2
total acres sold 1037 120 total acres sold 149 223
Tillable acres 71 40 Tillable acres 0 115
Wooded acres 943 73 Wooded acres 84 56
Pasture acres 19 7 Pasture acres 2 42
Wetland acres 11 1 Wetland acres 3 10
$/acre $2,288 $2,530 $/acre $1,960 $1,870
IOWA 2nd Quarter TOTAL for all           7 COUNTIES 2nd Quarter
2012 2011 2012 2011
# of sales 7 4 # of sales 58 39
total acres sold 417 345 total acres sold 4095 2792
Tillable acres 232 212 Tillable acres 1321 1145
Wooded acres 152 54 Wooded acres 2270 1209
Pasture acres 24 70 Pasture acres 332 349
Wetland acres 2 0 Wetland acres 79 30
$/acre $4,146 $3,861 Avg $/acre $3,040 $2,937

 

To learn more about the current land market, begin your search here:

Southwest-Wisconsin-Real-Estate.com

All data was taken from the SCWMLS. Because this article was intended to review the rural land market, properties smaller than 15 acres (residential lots) and commercial land sales were not included.
 
Jay Frazier – Broker Associate with First Weber Group Realtors
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