Southwest Wisconsin Land Sales Update: 4th Quarter Sales Up 13%

By: Jay Frazier

I’ve been feeling this upward shift through the pulse of my daily work these last few months, but often feelings aren’t justified by the numbers. This time is different. The number of rural land sales is up by 13%! Six of the 7 counties increased or held steady in the number of transactions, while Iowa County actually saw a decline in the number of transactions but an increase in price per acre. Richland County continues to see the most action with 10 sales as well as the most acres sold (1,082). The median price per acre continued the trend we’ve seen throughout 2011 with a decline of 4.5% from the previous year’s 4th quarter sold prices. Anytime there was an increase in price per acre, this was due to the large percentage of tillable acreage which saw big gains in 2011 all across the country.

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

GRANT 4th Quarter LAFAYETTE 4th Quarter
2011 2010 2011 2010
# of sales 5 1 # of sales 6 5
total acres sold 411 11.5 total acres sold 865 235
Tillable acres 173 5 Tillable acres 689 159
Wooded acres 177 5 Wooded acres 81 73
Pasture acres 25 0 Pasture acres 67 15
Wetland acres 0 0 Wetland acres 0 0
$/acre $2,900 $3,500 $/acre $4,278 $3,575
RICHLAND 4th Quarter SAUK 4th Quarter
2011 2010 2011 2010
# of sales 10 7 # of sales 7 7
total acres sold 1082 291 total acres sold 149 302
Tillable acres 283 115 Tillable acres 32 108
Wooded acres 650 148 Wooded acres 72 131
Pasture acres 83 22 Pasture acres 0 3
Wetland acres 23.5 7 Wetland acres 0 0
$/acre $1,940 $2,572 $/acre $3,572 $2,833
CRAWFORD 4th Quarter VERNON 4th Quarter
2011 2010 2011 2010
# of sales 6 4 # of sales 2 2
total acres sold 284 260 total acres sold 82 143
Tillable acres 15 44 Tillable acres 2 127
Wooded acres 257 174 Wooded acres 80 6.81
Pasture acres 0 40 Pasture acres 0 0
Wetland acres 0 0 Wetland acres 0 0
$/acre $1,823 $2,662 $/acre $2,476 $3,713
IOWA 4th Quarter
2011 2010
# of sales 3 8
total acres sold 145 595
Tillable acres 24 194
Wooded acres 106 231
Pasture acres 15 102
Wetland acres 0 12.5
$/acre $4,328 $3,476

 

Although land prices are slightly down from 2010 levels, buyer confidence is up. Even these first few weeks of January have been unusually busy. On the four websites that I track the page views of my listings, I have seen a big increase in web traffic through December and January. In this digital age when 88% of all property searches begin on the internet, this is a VERY positive sign that this upward trend will continue in 2012.

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

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

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