SW Wisconsin Land Market Update

Quiet and steady best describes the 1st quarter 2016 land market in Southwest Wisconsin. The number of transaction was down from 4th quarter 2015 but was not unusual for a 1st quarter at 32 transactions. The average price per acre rose slightly from 4th quarter to end up at $3,325/acre.

Current Market Characteristics

  • Prices are slowly moving up

Four of the seven counties saw an average price per acre increase over 4th quarter. Those three that didn’t had very few transactions leaving us with not enough data to get a firm average price.

  • Low Inventory Continues

There continues to be very few nice properties on the market. When one does go up for sale, it gets a lot of attention often leading to multiple offers.

  • Sellers hesitate

Some sellers that have contacted me about selling are hesitating to actually put their property on the market. Land prices have increased steadily since 2013 and many have a wait-and-see attitude gambling that an even better market is in the future.

  • Buyers savvy and somewhat cautious

Buyers are actively searching for rural properties, but in most cases they do their research and aren’t willing to go way out on a limb to own it. Properties priced correctly for the local market are moving quickly.

SW Wisconsin Rural Land Sales 12 Month Review

 SW Wisconsin 2015 2015 2015 2016
2nd Quarter 3rd Quarter 4th Quarter 1st Quarter
# of transactions 37 36 42 32
# of acres sold 3162 3670 3377 2296
% of acres tillable 37% 23% 27% 25%
average $/acre $3,947 $3,308 $3,133 $3,325
Avg $/acre by county 2015 2015 2015 2016
2nd Quarter 3rd Quarter 4th Quarter 1st Quarter
Grant $3,387 $2,339 $3,026 $3,136
Iowa $5,649 $3,451 $3,855 $4,885
Lafayette $6,364 $6,364 $3,475 $3,475
Sauk $4,098 $3,737 $3,570 $3,684
Richland $2,415 $2,382 $2,582 $3,122
Crawford $2,592 $2,549 $2,677 $2,532
Vernon $3,127 $2,337 $2,745 $2,439

If you would like a more detailed land market report for your area (free), visit www.WisconsinLandValues.com for instructions on how to order.

SW Wisconsin Land Market Update 1st Qtr 2016

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 rural 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.
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