I have been tracking land sale prices in southwestern Wisconsin for nearly five years; and in that time the average price per acre failed to rise above $3,900…until now. The second quarter of this year saw an area average of $3,947 per acre.
While rising prices are noteworthy, we shouldn’t overlook the fact that 3,162 acres changed hands during the second quarter. The last time that much land sold in the region during a quarter was two years ago. Also, the number of transactions (37) is up 23% over first quarter of this year and up 54% over the same time period a year ago. While it’s too soon to call this a boom market, the numbers seem to indicate the current tight market is heading in that direction.
Iowa and Lafayette Counties are leading the price gain due to their second quarter sales consisting of a high percentage of tillable land. Average sale prices in Grant, Sauk, Richland, and Vernon Counties have been holding steady for the past 12 months. Crawford County continues to struggle to make any price gains; but the number of acres sold there rose dramatically during the second quarter of this year.
Average Price-per-acre by County
|3rd Quarter||4th Quarter||1st Quarter||2nd Quarter|
If you would like a more detailed market report (free), visit www.WisconsinLandValues.com for instructions on how to order.
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: www.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.