Land values in Wisconsin declined 3% in 2015 due to continued low corn, soybean and wheat prices and milk prices that deteriorated throughout the year.

According to Arlin Brannstrom, faculty associate at the University of Wisconsin Center for Dairy Profitability in Madison, the statewide weighted average Wisconsin agricultural land values was$3,833 per acre in 2015. This was a 3% decrease from 2014.

While thousands and thousands of homes are sold each year, only a small fraction of the state’s agricultural land changes hands on the open market in any given year.

"Weaker dairy and crop prices helped to dampen demand for land," Brannstrom says. "With low commodity prices expected in 2016, producer competition for land will likely soften again in 2016."

The total number of acres sold declined by 5% last year and the total number of sales dropped by 8%.

"Farmland is the most valuable asset on most farmers' balance sheet," Brannstrom explains. "However, estimating land values is always difficult. There is nothing more unique than an individual parcel of land."