Historic period for farmland values
Farmland values have climbed to unprecedented levels the past three years.
Compeer Financial certified appraiser Danielle Tenner says the market has been phenomenal in west-central Wisconsin.
“I’ve seen some sales where people have purchased in early 2020 or late 2019 and now they are selling it for double what they paid for it.”
She tells Brownfield buyers have predominantly been local farmers.
“There’s a lot of little competitive areas where when something comes up for sale it’s gone in no time.”
And despite lower farm incomes and higher interest rates, Tenner says the market shows few signs of slowing down.
“Maybe there’s not as many people selling properties just because they have a lower interest rate and want to hold onto that, and they know if they have to replace their property it’s going to cost them more in the long-run with interest rates. But I have not seen that slow people buying properties.”
She says interest also remains strong for small acreages and recreational land.
Tenner made these comments during an upcoming Compeer Financial appraisal podcast, a content partnership with Brownfield.