Report
Why Wisconsin has fewer land sales: the numbers since 2021
Wisconsin recorded 497 ag land sales in 2025, down from 1,147 in 2021, and 902 forest land sales, down from 2,484. Prices per acre rose 46% and 54%.
By Jordan Johnson, Founder, Kedron Co.Updated 7 min read
Wisconsin's recorded land sales have fallen by more than half since 2021 while prices per acre kept rising. In 2025 the state counted 497 sales of agricultural land staying in farming, down from 1,147 in 2021, and 902 sales of forest land, down from 2,484, according to USDA NASS and the Wisconsin Department of Agriculture, Trade and Consumer Protection.
Wisconsin land sales, 2021 to 2025
| Year | Ag land sales | Ag acres sold | Ag price per acre | Forest land sales | Forest acres sold | Forest price per acre |
|---|---|---|---|---|---|---|
| 2021 | 1,147 | 66,959 | $6,202 | 2,484 | 122,407 | $2,562 |
| 2022 | 888 | 52,747 | $7,157 | 1,768 | 95,470 | $2,880 |
| 2023 | 735 | 46,682 | $7,785 | 1,428 | 69,469 | $3,229 |
| 2024 | 710 | 40,669 | $8,937 | 1,496 | 73,470 | $3,668 |
| 2025 | 497 | 34,887 | $9,057 | 902 | 50,589 | $3,952 |
| Change, 2021 to 2025 (Kedron calculation) | down 57% | down 48% | up 46% | down 64% | down 59% | up 54% |
Sources: USDA NASS and Wisconsin DATCP, Wisconsin Agricultural Land Sales 2025, released Sept. 1, 2026 (ag land without buildings, continuing in agricultural use). Forest land from the annual Forest Land Sales editions for 2021, 2022, 2023, 2024 (released Aug. 28, 2025) and 2025 (released Sept. 1, 2026), forest land continuing in forest use.
The 2025 drop was the steepest single-year decline in this five-year series. Ag land sales fell 30% from 2024 and forest land sales fell 40%, while the ag price rose 1.3% and the forest price rose 7.7% (Kedron calculation).
Where the numbers come from
NASS and DATCP build these reports from Wisconsin real estate transfer returns reviewed by the Wisconsin Department of Revenue. The reports leave out "sales made under other than normal market conditions (such as family sales or foreclosures)." So a farm passed to a son or sold to a neighbor at a family price isn't in the count.
Two categories matter for land agents:
- Ag land continuing in agricultural use, without buildings. Bare farmland that stays farmland. This is the cleanest statewide read on cropland and pasture prices.
- Forest land continuing in forest use. Wooded parcels that stay wooded. It's the best public price series for Wisconsin hunting and recreational ground.
Land sold to be developed ("diverted to other uses") is counted separately and sells at higher prices. In 2025 there were 20 ag land sales diverted to other uses and 15 forest land sales.
Why UW Extension counted more sales in 2025
UW-Madison Extension publishes its own annual price study, and it reports the opposite direction for 2025. Its analysis found "the number of land sales in 2025 increased by 11.2% from 2024, marking the first upward trend since 2022," at an average of $7,238 an acre, up 9.6% (UW-Madison Extension, Heather Schlesser, May 20, 2026).
The two reports count different sales:
| NASS and DATCP land sales | UW-Madison Extension land prices | |
|---|---|---|
| Released | Sept. 1, 2026 | May 20, 2026 |
| Parcel size | All sizes | 35 to 2,000 acres |
| Location | Towns, cities and villages | Towns only |
| Excludes | Family sales, foreclosures | Related-party sales, waterfront, managed forest acres, retained rights, mining |
| 2025 sales trend | Down 30% from 2024 (Kedron calculation) | Up 11.2% from 2024 |
| 2025 price per acre | $9,057 | $7,238 |
UW's own note explains the gap: "The NASS summary is not limited to parcels of 35 acres or more and includes properties in cities and villages." UW also says its 2025 count was 29.9% below 2018. Both reports agree on the bigger picture. Sales are well below where they were a few years ago, and prices are higher.
Wisconsin county sales are thin
At the county level, a year of Wisconsin ag land sales can be a handful of deals.
| County | Ag land sales, 2025 | Acres | Price per acre |
|---|---|---|---|
| Dane | 10 | 769 | $13,967 |
| Lafayette | 13 | 1,606 | $11,464 |
| Grant | 19 | 1,484 | $10,478 |
| St. Croix | 10 | 788 | $9,670 |
| Buffalo | 6 | 428 | $9,613 |
| Vernon | 9 | 421 | $8,935 |
| Pierce | 3 | 183 | $8,185 |
| Dunn | 12 | 389 | $6,531 |
| Trempealeau | 9 | 610 | $6,424 |
| Polk | 12 | 725 | $5,473 |
| Bayfield | 2 | 86 | $2,251 |
Source: USDA NASS and Wisconsin DATCP, Land Sales Without Buildings 2025, released Sept. 1, 2026 (continuing in agricultural use).
Pierce County's 2025 average rests on three sales and 183 acres. One unusual parcel moves that number a long way. Always put the sale count next to a county price. The same applies to forest land; see Wisconsin wooded and hunting land prices by county.
Why are there fewer land sales?
The NASS counts don't say why. The lenders and Farm Credit associations that comment on it point to owners holding on to land:
- Compeer Financial, in its July 2026 review of Illinois, Minnesota and Wisconsin, wrote that "limited supply continues to support competitive bidding when parcels become available" (Compeer, July 2, 2026).
- AgCountry Farm Credit, which serves parts of North Dakota, Minnesota and Wisconsin, described "an already tight real estate market that saw even fewer sales in the first half of 2026" (AgCountry, July 21, 2026).
Prices have not fallen to pull more land onto the market. Compeer's Wisconsin benchmark values rose about 10.8% on average from December 2024 to December 2025, and its 10 benchmark locations rose 4.5% on average in the first half of 2026. The Chicago Fed's lender survey did report Wisconsin farmland values down slightly from a year earlier in the second quarter of 2026 (Chicago Fed AgLetter, August 2026). The Q3 2026 farmland market report tracks those surveys each quarter.
What fewer sales mean for sellers
- Fewer comparables. A seller in a county with three sales last year has three data points, not thirty. The price has to come from the closest matches in location, size, cover and use, and sometimes from neighboring counties.
- Averages swing. A county average built on a few sales can jump or drop on one deal. It's a range, not a price for a specific parcel.
- Statewide numbers still rise. Wisconsin's recorded ag land price is up 46% since 2021 and forest land 54% (Kedron calculation). An owner who last checked values in 2021 is working from old numbers.
What fewer sales mean for land agents
Fewer closed sales means fewer listings to go around. When a county produces a dozen ag land sales in a year, each listing is worth more, and so is the process for finding the next one. Three places to start:
- Prospecting for listings before they reach the market: how land agents get listings.
- Bringing an expired listing back with a better plan and a price backed by the few comps there are.
- Telling a seller plainly when a number is too high, which matters more when there are few comps: how to tell a landowner their land is overpriced.
How to read these numbers
- The counts cover recorded, market-rate sales. Family transfers and foreclosures are out.
- Ag and forest categories are counted separately. The ag series here covers land sold without buildings.
- Prices are averages per acre across all sales in the category. They mix large and small parcels. Average parcel size for 2025 ag sales was about 70 acres and for forest sales about 56 acres (Kedron calculation).
- A year's report reflects sales recorded in that calendar year and is published the following late summer.
When this updates
- NASS and DATCP Wisconsin land sales: once a year. The 2024 edition came out Aug. 28, 2025, and the 2025 edition Sept. 1, 2026. Expect the 2026 edition in late summer or fall 2027.
- UW-Madison Extension land prices: once a year. The 2025 study was published May 20, 2026.
- Fed lender surveys and Farm Credit benchmarks: the Fed surveys come out quarterly. See the market data page for the latest.
Figures on this page are as of September 30, 2026. We'll update it when NASS and DATCP publish the 2026 edition.
What to do next
Before your next Wisconsin listing appointment, pull the county row from both NASS reports, ag and forest, and write the sale count next to the price. If the county had fewer than ten sales, bring the nearest neighboring counties too. That's the honest range, and it's the one a seller can check.
