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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  1. […]   via SW Wisconsin Land Sales Update: Prices Continue To Climb | Southwest Wisconsin Real Estate.  Chart courtesy of Jay […]

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