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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38 Marten Peak Court, Bozeman, Montana 59718

38 Marten Peak Court, Bozeman, Montana 59718

4Bedroom(s)
3Bathroom(s)
0.21Acre
2,476Sqft
Located in the Woodland Park subdivision, this brand new modern, contemporary home is 2,476 sf built by Old Mill Homes. Situated on a quiet cul-de-sac, this home has 4 bed, 3 bath, two living rooms and great floor plan. Estimated completion will be the end of June. Main level includes the master suite and addl bedroom with full bath for guests.
$1,000,000

410 Westridge Drive, Bozeman, Montana 59715

410 Westridge Drive, Bozeman, Montana 59715

4Bedroom(s)
2Bathroom(s)
0.20Acre
2,406Sqft
This meticulously maintained 4-bedroom home in the well-established Figgins neighborhood is must-see. Upstairs features a beautifully updated kitchen/dining room, a generous sized living room, master bedroom, an additional bedroom, and thoughtfully renovated bathroom.
$875,000

1068 Flanders Creek Avenue, Bozeman, Montana 59718

1068 Flanders Creek Avenue, Bozeman, Montana 59718

3Bedroom(s)
2Bathroom(s)
0.10Acre
1,500Sqft
Rare find in Bozeman-a townhouse with a three car garage! This well maintained home is move in ready, from the cozy and private front porch, to the spacious living room with a three sided fireplace allowing enjoyment from the kitchen/dining area as well. The spacious patio features privacy, a hot tub and plenty of room for entertaining or grilling.
$575,000

840 Quail Run Road D, Bozeman, Montana 59718

840 Quail Run Road D, Bozeman, Montana 59718

3Bedroom(s)
2Bathroom(s)
1,519Sqft
You'll love this charming and well maintained condo centrally located in the desirable North Star Subdivision in Four Corners. This quiet bright end unit boasts 3 bedrooms, 2 baths and 1519 sqft of living space. The combination open concept kitchen, dining room and living room make for easy and spacious single-level living, accented with vaulted ceilings and a granite finished gas fireplace.
$529,900

2940 Upper Rainbow Road, Bozeman, Montana 59718

2940 Upper Rainbow Road, Bozeman, Montana 59718

3Bedroom(s)
2Bathroom(s)
0.97Acre
1,588Sqft
Lovingly maintained single level home on almost an acre in the desirable Four Corners area. This charming single owner home comes to market for the first time and offers three bedrooms and two bathrooms with an open floor plan. The kitchen has plenty of counter space, ample cabinetry for storage and a center island.
$700,000

727 Harper Puckett Road, Bozeman, Montana 59718

727 Harper Puckett Road, Bozeman, Montana 59718

3Bedroom(s)
2Bathroom(s)
20Acre
1,780Sqft
GREAT HORSE OR GENTLEMAN RANCHER PROPERTY. PROPERTY WILL CONVEY WITH 50 INCHES OF WATER RIGHTS FROM THE LOWER MIDDLE CREEK DITCH COMPANY. HAS AAKER CREEK THAT RUNS YEAR ROUND THAT RUNS THROUGH THE ENTIRE PROPERTY. BEAUTIFUL GOLDEN WILLOW TREES. THIS PROPERTY HAD GREAT DEVELOPMENT POTENTIAL AND HAS NO COVENANTS OR ZONING. COULD BE A GLAMPING PROPERTY.
$2,700,000

96 Defender, Bozeman, Montana 59718

96 Defender, Bozeman, Montana 59718

4Bedroom(s)
4Bathroom(s)
0.52Acre
3,393Sqft
Stunning new plan under construction in Black Bull! This modern design is located on a .5 acre+ lot in a quiet cul de sac. Backing to state owned land, this lot provides an abundance of privacy. On the main floor are three bedroom suites, each with their own luxury bathrooms.
$1,899,000

171 Cold Smoke, Bozeman, Montana 59715

171 Cold Smoke, Bozeman, Montana 59715

3Bedroom(s)
1Bathroom(s)
1.19Acre
2,940Sqft
Glorious views of the Gallatin Valley and surrounding mountain ranges from this 1-Level custom. This home features 2 large master suites which has have large walk-in closets. One bath with separate tub and shower, 2nd Master with walk-in closet and 3/4 bath, additional bedroom and office.
$2,375,000

1609 Maple Street B2, Bozeman, Montana 59715

1609 Maple Street B2, Bozeman, Montana 59715

2Bedroom(s)
2Bathroom(s)
1,046Sqft
Stunning Mountain views of The Bridgers and Spanish Peaks can be seen from these incredibly well located, brand-new Bridgeview condos. Just down the street from MSU. These newly constructed condos boast dual bedrooms with en-suite bathrooms; featuring beautiful tiled showers with glass doors.
$499,500
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