SW Wisconsin Land Sales Update: 3rd Quarter Sales Up But Prices ...

9 Oct

Posted October 9, 2012 by JAY FRAZIER Rural Property Pro in Real Estate News, Uncategorized. Leave a Comment

This past summer will long be remembered for the drought that affected much of the country as well as the record high temperatures. ?Perhaps this had some effect on land sales; but when studying the numbers for southwest Wisconsin, it?doesn?t?appear to have had much effect if any. ?Last quarter we saw both the number of sales and the price per acre of rural land inch upward. ?For 3rd quarter we still have increased sales, but the price per acre slipped about 5% over 2011 prices. It?s interesting to note that prices have declined slightly even since the beginning of this year so we are experiencing a dip in the road to recovery as far as prices go.

Land buyers continue to be much more active this year than last. ?Five of the seven counties in this area saw an increase in the number of sales with Grant County leading the way. ?Overall land transactions are up 47% for the 3rd quarter compared to the same period last year.

Only Vernon County realized an increase in price per acre for the 3^rd quarter. ?The other 6 counties studied experienced a decline in price per acre. An interesting side note to pricing involves the list to sale price ratio. ?As the number of sales goes up, so has the list to sale ratio from 89% to 92%. ?I think this reflects the willingness of sellers to bring their asking price more in line with current market conditions. ?Buyers have spoken loud and clear with their dollars during the first 3 quarters of this year. ?They are ready, willing, and able to buy parcels that represent a good value.

Below is a summary of land sales by county (data from SCWMLS & WiREx).

GRANT	3rd Quarter			LAFAYETTE	3rd Quarter
	2012	2011			2012	2011
# of sales	10	1		# of sales	3	2
total acres sold	923	22		total acres sold	99	391
Tillable acres	381	0		Tillable acres	0	302
Wooded acres	492	22		Wooded acres	43	50
Pasture acres	90	0		Pasture acres	49	0
Wetland acres	0	0		Wetland acres	7	0
$/acre	$2,839	$2,954		$/acre	$3,051	$3,519
RICHLAND	3rd Quarter			SAUK	3rd Quarter
	2012	2011			2012	2011
# of sales	5	6		# of sales	5	4
total acres sold	277	822		total acres sold	562	149
Tillable acres	36	380		Tillable acres	145	55
Wooded acres	231	391		Wooded acres	367	92
Pasture acres	10	57		Pasture acres	46	0
Wetland acres	0	0		Wetland acres	5	0
$/acre	$2,580	$2,639		$/acre	$3,200	$3,766
CRAWFORD	3rd Quarter			VERNON	3rd Quarter
	2012	2011			2012	2011
# of sales	3	2		# of sales	4	6
total acres sold	158	242		total acres sold	155	267
Tillable acres	34	55		Tillable acres	40	65
Wooded acres	118	187		Wooded acres	115	191
Pasture acres	0	0		Pasture acres	0	6
Wetland acres	0	0		Wetland acres	0	2
$/acre	$2,185	$2,310		$/acre	$2,900	$2,400
IOWA	3rd Quarter			TOTAL for all 7 COUNTIES	3rd Quarter
	2012	2011			2012	2011
# of sales	4	2		# of sales	34	23
total acres sold	176	340		total acres sold	2350	2233
Tillable acres	49	182		Tillable acres	685	1039
Wooded acres	52	115		Wooded acres	1418	1048
Pasture acres	57	29		Pasture acres	252	92
Wetland acres	18	0		Wetland acres	30	2
$/acre	$3,892	$4,217		Avg $/acre	$2,950	$3,115

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To learn more about the current land market in Southwest Wisconsin, begin your search here: RuralPropertyPro.com

All data was taken from the SCWMLS & WiREx. Because this article was intended to review the rural land market, properties smaller than 15 acres, residential, and commercial land sales were not included.

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Source: http://southwestwisconsinrealestate.wordpress.com/2012/10/09/sw-wisconsin-land-sales-update-3rd-quarter-sales-up-but-prices-slip-slightly/

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