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.

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