Montana Land For Sale: Building, Commercial, Residential, Farm, Hunting, Ranch
Q2 2024 – Over 1300 Land Listings – Land Costs, Closed Sales, Days on Market
Sales Price (median)
Chart 1: Today, Montana land prices come in at a median of $250,000.
One year ago, the price of land was rising and median price was at $279,000.
By Q3 2023 price hit $225,000 but has been increasing since.
The low this decade was $119,850 in Q1, 2020.
Montana’s land prices have risen ⇑ $130,150 or ⇑ 108.6% from Q1 2020 to Q1 2024, from $119,850 to $250,000.
Trends: Median price for parcels of land greater than 30 acres was on the rise in 2022.
Q4 2022 saw a record sales price quarter, when the median price for land over 20 acres hit an all-time high of $1,200,000.
In 2023, the median price for land of 20 acres or more was $597,000.
Days on Market (median)
Chart 2: In Q2, 2024, median days on market for all sizes of Montana land is 98.
Days on market has been climbing since Q3, 2023.
In 2021, median days on market all sizes was 39.
In 2020, median days on market for all sizes was 139.
Average days on market in October 2012 was a record high of 231.
From farming and ranching to transportation and tourism, Montana’s economic environment is dependent upon land, which is why buying Montana land is wise.
Closed Sales
Chart 3: Closed sales of Montana land have dropped significantly since the record set in Q3, 2020, dropping from 605 to today’s 116, which is a ⇓ 489 or ⇓ 421.6%%.
Montana Land: Economy and Commerce
Originally, most of the State’s economy was directly based on the land.
Today, Montana’s economic landscape is based on tourist enterprises (fishing, hunting, skiing, dining, etc.), trade and technology industries, transportation, government agencies, educational systems, and other types of commerce.
While having yielded to new forms of modern commerce indirectly related to Montana land, Montana’s economy continues to benefit directly from the land through cattle and sheep grazing; acreage for homes and commercial buildings.
In addition, Montana land provides soils for farming and ranching; open land for hunting and fishing; and geologic formations for petroleum and minerals (e.g., clay, coal, copper, garnet, gold, phosphate, platinum, sapphire, talc, vermiculite), all of which are just as important for maintaining Montana’s economy as are the more “modern” industries, like technology and manufacturing.
Public and Private Montana Land Ownership Maps
Montana Topography
Although two-thirds of Montana’s land consists of rolling grasslands, the state of Montana is home to more than 25 significant mountain ranges.
Rising to 12,693′, Granite Peak is Montana’s highest elevation, and the River Valley of the Kootenai claims the lowest point in Montana at 1,892.’
“Montaña Relucientes,” meaning “shining mountains,” is the Spanish term from which we get the name “Montana.”
Montana Geography
Regardless of your geographic position in the State, Montana land experiences wet-dry and hot-cold extremes, and although the State has an abundance of lakes, rivers and streams, it is not immune to extreme dry periods, which effect Montana’s land, known for its rich agricultural and ranching history.
Not to be outdone in the category of extremes, summer temperatures in Montana have reached beyond 115ºF (46ºC) and winter temperatures have plummeted to –70ºF (-56ºC).
