{"id":11080,"date":"2024-01-01T08:22:00","date_gmt":"2024-01-01T08:22:00","guid":{"rendered":"https:\/\/westernranchbrokers.com\/?p=11080"},"modified":"2024-04-18T17:13:36","modified_gmt":"2024-04-18T17:13:36","slug":"2023-year-in-review","status":"publish","type":"post","link":"https:\/\/westernranchbrokers.com\/2023-year-in-review\/","title":{"rendered":"2023 Year in Review"},"content":{"rendered":"

2023 Year in Review<\/h1>\n

Over the last several years, the Montana ranch real estate market has had some interesting ups and downs\u2014and 2023 was no exception.\u00a0<\/span><\/p>\n

The inventory of Montana ranches for sale was at its lowest level in decades last year, thanks to a record number of transactions in 2021 and 2022. Land values began to stabilize and fall short of the record-breaking prices they reached during the pandemic, making price reductions commonplace as the year progressed. Landowners faced drought, floods, and rising costs, while buyers navigated a highly competitive real estate market and record-level interest rates. The complexity of the Montana ranch real estate market in 2023 was unmatched.<\/span><\/p>\n

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While overall sales volumes suffered, many quality properties did come onto the market. Similar to the past few years, there was no shortage of interested buyers. The demand for Montana sporting properties remained particularly strong, as did land as an investment opportunity. Very large or unique properties defied market trends, as high-net-worth buyers sought out exceptional properties without worry of interest rates. In the final quarter of 2023, there was good news for cattle operations as analysts called for record-high cattle prices in 2024. It remains to be seen how this will impact both the supply and demand for operational ranches in the year ahead.<\/span><\/p>\n

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2023 MARKET RECAP<\/strong><\/h3>\n

1\/<\/strong><\/span> Low inventory levels<\/span><\/p>\n <\/div>\n <\/div>\n \n