YEAR IN REVIEW: 2022
As 2022 comes to a close, the team at Western Ranch Brokers would like to thank our clients, colleagues and business associates for another year of successful ranch real estate transactions. The unprecedented demand for Montana property in the last several years has resulted in some of the lowest real estate inventory levels in decades, creating an incredibly tight market for Montana ranches. Thanks to our long-standing relationships with Montana landowners and our ever-expanding marketing capabilities, the team at Western Ranch Brokers was pleased to have successfully represented the sale of a number of first-class Montana ranches this past year.
Featured sales included:
To view more properties sold by Western Ranch Brokers team, click here.
Due in large part to the industry-wide inventory challenges in the Montana ranch real estate market, the number of sales and the median sales price per acre decreased in 2022 compared to the previous year. However both sales and prices remained on par with 2020 statistics—despite drastically lower inventory levels. According to data from Montana Land Source, the median days on the market for ranch sales dropped to 245 days in 2022, a hundred days less than the two previous years.
Rapid development, an influx of high-net-worth individuals relocating to Montana, and real estate investors seeking a safe harbor sent Montana land values skyrocketing in late 2020—with price levels remaining fairly consistent throughout 2021 and 2022. The premium value of Montana land this year continued to motivate many Montana landowners to relocate their operations outside of rapid growth areas or to exit the ranch market completely amidst inventory shortages and record-breaking land values.
Looking to the year ahead, steady demand and limited supply will likely extend the opportunity for sellers to take advantage of these strong market conditions in the 2023 spring and summer sales season. The Western Ranch Brokers team has already seen an upward trend in new listings in Q4 of this year, leaving us optimistic for next year’s land and ranch markets.
Featured new listings include:
To see more of Western Ranch Brokers available listings, click here.
With plenty of buyers still in the market for a Montana ranch, broker Caleb Campbell notes,
“The immense demand for Montana property during the 2020-2021 land rush wiped out the majority of the quality inventory on the market. Inventories have not recovered to pre-2020 levels, so sellers bringing quality properties to the market can expect a strong response from buyers, if their property is priced correctly.”
Even with the continued demand for Montana ranches this year, new marketing strategies remained a top priority at Western Ranch Brokers in 2022. Our team focused on several new initiatives including an expanded digital analytics program, more data-driven targeted marketing strategies, and the launch of an exclusive website for off-market property listings. Western Ranch Brokers also supported local Montana events such as the Livingston Roundup, the NILE PRCA rodeo and became a sponsor of Haven Meged, currently ranked as the #3 tie-down roper in the world.
As always, Western Ranch Brokers is proud to be a part of the farm and ranch community in Montana. We are happy to share our 50-plus years of combined knowledge and experience to advise our clients on the ranch real estate market and to help successfully navigate any type of real estate transaction. Thank you for your continued support of Western Ranch Brokers in 2022, and we look forward to new opportunities to work together in the year ahead.
If you’re considering buying or selling a ranch in Montana, contact Western Ranch Brokers at (406) 589-4160 or email@example.com to find out how we can go to work for you.