Market Update for 2020 and Start of 2021
Needless to say, Montana ranch properties continue to be in high demand. Earlier this month, ranch appraiser Andy Rahn from Montana Land Source shared his annual 2020 Montana Land Market Values & Statistics with the Montana Farm & Ranch Brokers Association. Rahn’s findings confirmed what Western Ranch Brokers helped our clients achieve in 2020 and what we’ve seen since the start of 2021 with the properties we’ve listed and sold.
As noted by Rahn in his recent market update presentation, Montana properties with at least 200 acres experienced several increases during 2020.
Transactions are up, land values are up, and sale prices as percentage of list prices are up. Although days on market (DOM) increased, Rahn attributes this trend to properties that had been on the market from previous years having finally sold.
Inventory is down across the state, making this a smart time to consider selling as demand for Montana ranches continues.
Rahn’s findings are similar to what Western Ranch Brokers saw with our listings. In 2020, our brokerage team of three partners sold multiple properties for our clients including:
- Copper Spring Ranch | Bozeman, Montana | 2,077 ± acres | List Price: OFF-MARKET | SOLD
- Greenhorn Hideout | Helena, Montana | 1,461 ± acres | List Price: $4.95M | SOLD
- Highland Mountain Ranch | Divide, Montana | 300 ± acres | List Price: $750K | SOLD
The following properties were also sold in 2020 with Western Ranch Brokers representing the buyers:
- East Fork Ranch | Lewistown, Montana | 7,319 ± acres | List Price: $14.2M | SOLD
- Buffalo Creek Ranch | Lewistown, Montana | 1,673 ± acres | List Price: $5.5M | SOLD
- Lancaster Ranch | Lewistown, Montana | 3,590 ± acres | List Price: $8.26M | SOLD
- Alaska Bench Ranch | Lewistown, Montana | 1,280 ± acres | List Price: $2.99M | SOLD
- Deschland Ranch | Lewistown, Montana | 7,200 ± acres | List Price: $12M | SOLD
- Redhill Retreat | Lewistown, Montana | 120 ± acres | List Price: $1.49M | SOLD
- Little Snowy Mountain Ranch | Lewistown, Montana | 5,710 ± acres | List Price: $11.07M | SOLD
- Fischer Ranch | Lewistown, Montana | 635 ± acres | SOLD
In addition, the start to 2021 has been impressive. Rahn noted that from January through February 2020, there were 27 sales of Montana properties of 200 or more acres. From January through February 2021, those numbers have more than doubled with 60 sales already completed.
For Western Ranch Brokers, we’ve had multiple properties across the state go under contract or sell since the start of 2021, including:
- Lazy TP Ranch | Whitehall, Montana | 10,906 ± acres | List Price: $24.9M | SOLD in less than six months
- Horsethief Basin Ranch | Lewistown, Montana | 7,000 ± acres | List Price: $19.5M | UNDER CONTRACT
- Rockin JN Ranch | Sula, Montana | 545 ± acres | List Price: $4.95M | UNDER CONTRACT
- Heart K Land & Cattle Co | Livingston, Montana | 1,976 ± acres | List Price: $24.95M | UNDER CONTRACT
- Gang Ranch East | Rapelje, Montana | 3,040 ± acres | List Price: $1.76M | UNDER CONTRACT
- Dykstra Farms | Bozeman, Montana | Multiple Parcels | List Price: $9.45M | UNDER CONTRACT
Although Rahn’s 2020 and early 2021 numbers are encouraging, Western Ranch Brokers is seeing even stronger results for our listing clients.
Combining our localized knowledge and expertise with comprehensive marketing strategies, well executed videos and compelling photography, we focus on properly showcasing each listing’s numerous attributes and attracting qualified buyers.
If you are thinking about selling and would like a team that integrates traditional values with forward thinking marketing tools and strategies, contact us at (406) 589-4160.