Archive for the ‘Real Estate News’ Category

Ten Years of Changes in Real Estate

We’re celebrating 10 years in real estate this month. That’s not very long really, but in that short time our business has changed from exclusively using newspaper ads to having nearly 100% of our contacts come through website ads. What will the next 10 years bring?

10 year REALTOR

One thing has remained constant throughout; our customers are the foundation of our success. This holiday season we say thank you to all of you that have placed your trust in us to assist you in completing your transaction. We are honored and humbled that you chose us. Merry Christmas & Happy New Year.

Land Sales Jump 58% as Prices Dip: SW Wisconsin Land Market Update

By: Jay Frazier

No one would argue that the land market is vastly improved from where it was three years ago, but where exactly is it now? Seller’s market? Buyer’s market? Neutral? Sometimes it’s hard to tell.

The average sale price climbed pretty steadily through all of last year and the first half of this year while the number of transactions fluctuated. This last quarter the market waffled again in favor of more completed transactions with a lower average sale price. The number of completed transactions in 3rd quarter took a big leap up 58% compared to the first two quarters of this year.

SW WI Land Sales Chart

Conversely, the average price per acre dipped to just under $3,000 ending up at $2,985. This price drop likely reflects the type of land sold more than a market correction. During the first half of the year 36% of the acreage sold was tillable farmland (which typically carries a higher value than other types of land) while 3rd quarter sales comprised only 19% tillable acres.

SW Wisconsin Land Prices Chart 3rd Quarter 2014

Historically, the number of 3rd quarter transactions total somewhat less than the spring months, but this year defies tradition. A closer look at the transactions this 3rd quarter reveals the majority of sales were properties in the 20 – 80 acre range many of which came on the market and sold quickly. Not only did they sell quickly, but most of the sale prices calculated out at over 90% of the asking price. This would indicate a high demand which, when combined with low inventory, paves the way for further market improvement in the 4th quarter.

Here are a few specific highlights for 3rd quarter:

  • Sauk County shines as the only county to realize whopping average price gains since January 1st ending up at an average of $3,805/acre.
  • Richland County moved the most acres selling 632 acres in 7 transactions. The average price/acre there remains steady at $2,374.
  • Vernon County showed the most sales with 8 completed transactions and saw a price drop mainly due to the majority of land sold being wooded versus the higher value farmland parcels sold in the first half of the year.
  • Grant County also lost ground in the price category with land type being the major factor there in 4 completed transactions of mainly wooded land and very little tillable.

SW Wisconsin Rural Land Sales 6 Month Report
April 30, 2014 through September 30, 2014

Grant Iowa Lafayette Sauk
2nd Qtr 3rd Qtr 2nd Qtr 3rd Qtr 2nd Qtr 3rd Qtr 2nd Qtr 3rd Qtr
# of sales* 3 4 3 6 4 0 6 7
# acres 207 208 284 491 298 0 1155 331
woods 31 142 244 389 75 0 787 221
tillable 177 45 23 84 123 0 336 86
pasture 0 21 6 15 10 0 10 21
wetland 0 0 10 3 90 0 21 0
avg $/acre $4,334 $3,232 $3,669 $2,895 $2,915 $2,915 $3,513 $3,805
  ~
Vernon Crawford Richland TOTAL
2nd Qtr 3rd Qtr 2nd Qtr 3rd Qtr 2nd Qtr 3rd Qtr 2nd Qtr 3rd Qtr
# of sales* 2 8 4 6 2 7 24 38
# acres 42 297 269 266 112 632 2367 2225
woods 0 212 230 192 97 461 1464 1617
tillable 42 61 22 56 15 101 738 433
pasture 0 23 14 16 0 10 40 106
wetland 0 0 0 0 0 20 121 23
avg $/acre $4,636 $2,746 $2,721 $2,927 $2,032 $2,374 $3,403 $2,985


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.

Sneak Peak at 3rd Quarter Land Sales

by: Jay Frazier

Here’s a sneak preview of SW Wisconsin 3rd quarter land sales. This number can only go higher as any closings from yesterday get recorded.

We have seen a pretty big jump in the total number of sales during the 3rd quarter (up 54% as I write). Many of these transactions are for parcels 30-80 acres in size and the majority of those sold for over 90% of the asking price. This type of parcel is in high demand right now.

Land Sales Are Up 54%

To find out what land in your area is currently selling for, visit: www.WisconsinLandValues.com or call my office and request a Land Sales Report for your area. (608) 739-3515.

Land Price Growth Continues: SW Wisconsin Land Sales Update

By: Jay Frazier

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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