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.
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
|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|
|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|
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.