In 2017, the total number of agricultural land sales in Wisconsin decreased 2 percent and the total acreage sold decreased 10 percent. The average value of all agricultural land sold rose 4 percent to $5,759 per acre.
The average value of land continuing in agricultural use fell 1percent to $5,445 per acre, while land being diverted to other uses rose 41 percent to $10,007 per acre.
The total number of transactions fell to 1,527 in 2017. The number of transactions where the land continued in agricultural fell by 85 while the number of transactions where the land was diverted to other uses rose by 51. The total number of acres sold dropped 10 percent to 90,872.
Location is still critical when it comes to land values across the state. Dennis Badtke, appraiser with Compeer Financial in Fond du Lac, says he’s been busy overseeing land transaction for large tracks that can bring premium prices but it’s all about location. Badtke says despite depressed milk prices, many dairies are willing to pay a premium IF large tracks of land in their area come up for sale. Why? Location, location, location. Badtke says the diaries crunch the numbers and find that being able to manage their manure all in one place, without additional expense in trucking and outside personnel, pencils out even at a higher per/acre price.
The average value of forest land sales in 2017 was down 15 percent to $1,943 per acre. Land continuing in forest land averaged $1,885 per acre, while land being diverted to other uses was $2,364 per acre. There were 245 more sales in 2017 than in 2016 with 46,826 more acres sold.
Land sales figures in this report include only averages of arm’s length transactions reported to and reviewed by the Wisconsin Department
of Revenue, Bureau of Equalization. Sales made under other than normal market conditions (such as family sales or foreclosures)
are not included in this report. With each sale of a parcel of land, the buyer is required to file a Wisconsin Real Estate Transfer
Return, documenting the parcel size, sale price, present use, and intended use of the property. State appraisers inspect the site and
verify the transfer return. The sales data in this report are a summary of the Wisconsin Real Estate Transfer Returns. Specifics on land
sales transactions within a certain county can be obtained by contacting the Department of Revenue or at www.revenue.wi.gov/retr.
