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

By: Jay Frazier

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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