2016 Rural land market review
- Low Inventory Continues
This sounds like a looping track, but low inventory persists. This has been the case since around October of 2015. Nice properties 40-150 acres are selling quickly. The average parcel size that sold during the fourth quarter was 71 acres. This is a great time for landowners to put properties on the market.
- Buyers Waiting in The Wings
Land buyers continue watching and waiting; but immediately jump in the game when a fairly priced property comes on the market.
- Prices rebound
Rural land prices rebounded from third quarter’s average of $3,181/acre to finish the year at $3,472/acre. This 4th quarter 2016 average price/acre when compared to $3,308 in the 4thquarter of 2015, was an increase of 10.8%.
First Weber sells real estate throughout Wisconsin: Metro Milwaukee and Southeastern WI, South Central Wisconsin/Greater Madison, Southwest Wisconsin, Western WI, Central Wisconsin, Northeast Wisconsin and Wisconsin’s great Northwoods. You can start searching for Wisconsin real estate and Wisconsin real estate agents at firstweber.com
image courtesy of Jay Frazier