Land Price Growth Continues: SW Wisconsin Land Sales Update

By: Jay Frazier

Land buyers continued to be very active during the spring months with about the same number of transactions closed and approximately 54% more acres sold compared to the first quarter of this year. It is interesting to note that the additional acreage sold was mainly wooded land which traditionally has held a lower value than tillable land. This makes the average price per acre for second quarter a telling analysis of market growth possibilities. SW Wisconsin land prices continue to appreciate with an average increase of 6.5% over first quarter ending up at $3,403/acre.

2nd Quarter 2014 SW Wisconsin Land Price Graph

Here are a few specific highlights:

  • Sauk County showed the most sales with 6 completed transactions and an average $/acre increase of $494 over 1st quarter 2014. Approximately 29% of the acreage sold was tillable farmland.
  • Crawford County completed the same number of sales as the previous quarter but realized and average increase of $130/acre ending up at $2721/acre.
  • Grant County continues to consistently bring in the highest price per acre of all the SW Wisconsin counties. Even though the average price was lower for 2nd quarter it remains well above $4000/acre at $4,334.
  • Vernon and Richland Counties both struggled to provide enough action to determine where those specific markets stand right now.

SW Wisconsin Rural Land Sales 6 Month Report

January 1, 2014 through June 30, 2014

Grant Iowa Lafayette Sauk
1st Qtr 2nd Qtr 1st qtr 2nd Qtr 1st Qtr 2nd Qtr 1st Qtr 2nd Qtr
# of sales* 7 3 2 3 2 4 4 6
# acres 429 207 148 284 185 298 226 1155
woods 57 31 60 244 11 75 102 787
tillable 279 177 47 23 138 123 52 336
pasture 91 0 30 6 14 10 72 10
wetland 1 0 10 10 20 90 0 21
avg $/acre $4,916 $4,334 $3,012 $3,669 $3,020 $2,915 $3,019 $3,513
Vernon Crawford Richland TOTAL
1st Qtr 2nd Qtr 1st Qtr 2nd Qtr 1st Qtr 2nd Qtr 1st Qtr 2nd Qtr
# of sales* 1 2 4 4 3 2 23 24
# acres 23 42 309 269 217 112 1537 2367
woods 6 0 199 230 177 97 612 1464
tillable 15 42 104 22 40 15 675 738
pasture 0 0 3 14 0 0 210 40
wetland 0 0 2 0 0 0 33 121
avg $/acre $3,397 $4,636 $2,591 $2,721 $2,412 $2,032 $3,195 $3,403

 

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. […] READ MORE from Wisconsin rural property pro Jay Frazier Land Price Growth Continues: SW Wisconsin Land Sales Update | Southwest Wisconsin Real Estate. […]

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