After a record-breaking price gain during second quarter this year, the land market has paused to take a breath. The average price-per-acre for rural land in southwestern Wisconsin during the third quarter this year dropped 16% compared to second quarter ending up at $3,308/acre. In studying the details I find that this lower average price is (in most cases) a reflection of the type of properties that were sold during third quarter rather than a drop in value. The average parcel size was larger and the percentage of tillable land was significantly lower which affects the final $/acre in a transaction.
Read on for more from First Weber’s Rural Property Pro, Jay Frazier: Land Market Hits Pause: SW Wisconsin Land Market Update | Southwest Wisconsin Real Estate
First Weber sells real estate throughout Wisconsin: Metro Milwaukee and Southeastern WI, South Central Wisconsin/Greater Madison, Southwest Wisconsin, Central Wisconsin, Northeast Wisconsin and Wisconsin’s great Northwoods.