Southwest Wisconsin Land Sales Update: Price Per Acre Down 2.2% From 2010 3rd Quarter

By: Jay Frazier

The number of rural land sales dipped slightly during the 3rd quarter over the same period in 2010. Richland County continues to see the most action with Crawford County following second and Grant County seeing only one transaction for the 3rd quarter of this year. The median price per acre also slipped slightly from $2557 to $2501. Cropland is the one strong point in the market. Parcels with larger tracts of tillable land sold at a higher price per acre over similar parcels sold a year ago.
Below is a summary of land sales by county. (data from SCWMLS)

Breakdown by County

3rd Quarter

GRANT

2011

2010

# of sales

1

2

total acres sold

22

222

Tillable acres

0

45

Wooded acres

22

169

Pasture acres

0

8

Wetland acres

0

0

Avg $/acre

$2955

$2568

 

3rd Quarter

RICHLAND

2011

2010

# of sales

6

6

total acres sold

821

498

Tillable acres

380

170

Wooded acres

391

265

Pasture acres

57

0

Wetland acres

0

61

Avg $/acre

$2640

$2675

 

3rd Quarter

CRAWFORD

2011

2010

# of sales

3

3

total acres sold

219

72

Tillable acres

55

22

Wooded acres

157

49

Pasture acres

7

0

Wetland acres

0

0

Avg $/acre

$1910

$2427

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

It might be encouraging to note that rural real estate markets often lag behind those in metro areas. Home sales in Dane County are up by 23% for September. This is the 3rd month in a row that Dane County has seen an increase in sales over the same month in 2010 so perhaps we’re due for an upswing in the land market as well.

As Jonathan Goode states in his recent article on LandThink, “The flow of the land market is shifting.”

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

 

All data was taken from the SCWMLS and did not include residential or commercial land sales.

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