Intro to Bozeman

What’s Happening In Ranch Sales in Montana?

by Liz Nitz

What’s Happening In Ranch Sales in Montana?

Montana ranch sales more than doubled from 2019 to 2020. We saw a flood of wealthy buyers in search of wide open spaces to relax and play. There is a mystique to Montana thanks to movies and books and I don’t think people have been disappointed as new buyers keep coming to our beautiful state.

It’s important to keep in mind that ranch sales farm sales should be considered a whole classification. You can’t really dig deep into price per square foot because there is a huge range of criteria that affect pricing. Think water rights, structure on land, location, out buildings, etc.

Our MLS covers Butte to just outside Billings and over to the Wyoming border. Sprinkled in are a few random listings that show up because agents choose to list here. Here are the basic stats:

  • 2018: There were 28 listings sold in the farm and ranch sales category. Average days on market was 267 and there was a total sales volume of $54,074,125.
  • 2019: There were 25 listings sold in the farm and ranch category. Average days on market was 315 and there was a total sales volume of $53, 300, 418.
  • 2020: There were 63 listings sold in the farm and ranch category. Average number of days on market was 197 and there was a whopping total of $119,500,926.

 

What Trends Are Ranches Seeing?

Ranches have been transitioning from agricultural to investment and recreation.

  • Land value used to be the income you could make from farming/ranching. It’s now based largely on recreational pursuits, aesthetics, development and investment potential. The pandemic may have accelerated that trend. You can see from the 2020 sales numbers that listings and sales more than doubled. People wanted a place to escape the uncertainty of big cities. Montana’s wide open spaces and plethora of outdoor activities fit the bill for a lot of buyers.

 

Marrying economic viability with ecological sustainability is becoming front of mind.

  • Renewable energy: As more cities convert to carbon neutral over the next 20 years, ways to provide renewable energy is being heavily considered. If you have a piece of land that meets all the logistical requirements of operating a bigger solar and wind farm, it could be an income source for the future.
  • Holistic land management: This idea of operating a ranch with a wider ecosystem in mind has been gaining more traction recently. That might have to do with a younger generation taking over their family ranches. It’s not just about all the requirements of raising cattle. Holistic land management aims to create a profitable operation that is sustainable for the soil, water and native species on the land.
  • Conservation easements: These easements are used to protect land, water and endangered native species from future development. Landowners get paid or receive a tax break for the easement on their land.

 

Resources

Savory Institute is a global movement of regenerative farmers and land managers.

Polyface Farms and Joel Salatin in Virginia are famous for their regenerative farming practices.

Hall and Hall and Fay Ranches are two of Montana’s biggest ranch brokers.

Montana Land RelianceThe Nature Conservancy, The World Wildlife Fund are all conservation organizations that work with Montana land owners.

Montana has seen a lot of shifts happening. As more out-of-town buyers look into Bozeman, Missoula and Whitefish, many long-time residents are considering moves to smaller places like Lewistown and Dillon. If you have any questions about what’s happening in Bozeman and Montana real estate feel free to contact me at liz@windermere.com.

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The following homes listed below were just listed in the last 7 days. This seller’s market is hot so we keep a close eye on the latest inventory. Subscribe below for instant updates of your ideal criteria.

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1995 Buckrake Avenue, Bozeman, Montana 59718

1995 Buckrake Avenue, Bozeman, Montana 59718

3Bedroom(s)
2Bathroom(s)
0.12Acre
1,757Sqft
This townhouse is a rare find, with a fully fenced back and side yard, large wraparound deck, and bordering park space on two sides. Surprisingly good Bridger mountain views from the deck, living room and master suite. Main living areas are on the first floor, with all bedrooms and laundry area on the second floor.
$460,000

476 Enterprise Boulevard 220, Bozeman, Montana 59718

476 Enterprise Boulevard 220, Bozeman, Montana 59718

1Bedroom(s)
1Bathroom(s)
648Sqft
Exceptional contemporary one bedroom condo on the beautiful south side of Bozeman, close to the University. Featuring hardwood floors, quartz countertop, built in bluetooth bathroom mirror, and a covered balcony.
$269,900

1297 Thomas Drive, Bozeman, Montana 59718

1297 Thomas Drive, Bozeman, Montana 59718

2Bedroom(s)
2Bathroom(s)
1,075Sqft
Newly constructed condominiums offering a combination of 1 BD/1.5 BA units along with 2BD/2BA units and 2BD/2.5BA properties. GE appliance package with including electric range, dishwasher, disposal, microwave, exhaust hood, washer/dryer, refrigerator. Quartz countertops, natural gas forced air and AC. Walk-in closets with storage, some condos have decks with additional storage.
$349,000

5756 Westmorland Drive, Bozeman, Montana 59718

5756 Westmorland Drive, Bozeman, Montana 59718

4Bedroom(s)
2Bathroom(s)
0.10Acre
1,986Sqft
Oh yes, the Lakes of Valley West; a highly sought after community located in Bozeman, MT! This lovely home features 4BR/2.BA & will knock your socks off with its contemporary look and feel w/ large southern exposure windows, located at the end of a cul-de-sac and adjoins the community walking trail.
$599,900

71 Ridge Line Lane, Bozeman, Montana 59718

71 Ridge Line Lane, Bozeman, Montana 59718

3Bedroom(s)
2Bathroom(s)
0.20Acre
3,286Sqft
Here is your opportunity to own a beautiful home in North Star Subdivision. As you enter the home you will notice the main level provides a functional open-concept floor plan throughout the living, dining, and kitchen area. This home is accented with wood trim, vaulted ceilings, a beautiful gas fireplace, stainless steel appliances, built-in speakers, and the kitchen features granite countertops.
$595,000

244 Creekside Drive, Bozeman, Montana 59718

244 Creekside Drive, Bozeman, Montana 59718

4Bedroom(s)
4Bathroom(s)
3,800Sqft
First time on the market! Custom-built, 2014 mountain modern home in Wylie Creek. Enjoy great amenities (tennis court, pond, walking trails) just minutes from downtown Bozeman, the airport, and the Gallatin’s blue-ribbon trout. Four large bedrooms plus office, spa-like master bath, huge kitchen, pantry, walk-in closets, copious storage, and fiber optic Internet for work/school from home.
$1,095,000

30 Naomi Rose Lane, Bozeman, Montana 59718

30 Naomi Rose Lane, Bozeman, Montana 59718

3Bedroom(s)
2Bathroom(s)
1,796Sqft
Embrace an easy and affordable lifestyle in this immaculate two-level condo. Beautifully appointed this three-bedroom, two and a half bath condo has an open functional floor plan with lots of natural light. The interior is done in a stunning palette of neutral tones providing the perfect back drop for any decor.
$419,900

1297 Thomas Drive, Bozeman, Montana 59718

1297 Thomas Drive, Bozeman, Montana 59718

2Bedroom(s)
2Bathroom(s)
1,075Sqft
Newly constructed condominiums offering a combination of 1 BD/1.5 BA units along with 2BD/2BA units and 2BD/2.5BA properties. GE appliance package with including electric range, dishwasher, disposal, microwave, exhaust hood, washer/dryer, refrigerator. Quartz countertops, natural gas forced air and AC. Walk-in closets with storage, some condos have decks with additional storage.
$360,000

1297 Thomas Drive, Bozeman, Montana 59718

1297 Thomas Drive, Bozeman, Montana 59718

2Bedroom(s)
2Bathroom(s)
1,075Sqft
Newly constructed condominiums offering a combination of 1 BD/1.5 BA units along with 2BD/2BA units and 2BD/2.5BA properties. GE appliance package with including electric range, dishwasher, disposal, microwave, exhaust hood, washer/dryer, refrigerator. Quartz countertops, natural gas forced air and AC. Walk-in closets with storage, some condos have decks with additional storage.
$360,000
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Windermere Downtown Bozeman

135 E Main St.

Bozeman, MT 59715

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