The Front-range as a term is a range of the Rocky Mountains where the mountains meet the plains. This prolific area of spectacular sights is sought after by eager buyers from all over the continental US and abroad. The massive landforms and wonderful peaks range from Colorado to Montana and into the providences of Canada.
Since the pandemic and the Covid-19 outbreak, the real estate industry along the Rocky Mountain Front has experienced market madness as out-of-state interest sees an unprecedented high. Not only are people seeking refuge from the virus, but investors are also getting out of the stock market and putting their money into the purchase of land. The rising cost of farming inputs, such as fertilizer, is driving local farmers and ranchers to expand in hopes of increasing their profits with extremely low margins. Market value prices are increasing as a result of supply and demand, making it a stretch for local Montana buyers trying to sustain their family legacy. Where are all the buyers coming from then?
If you’re ready to join the ranching community in the state of Montana in particular, there are a few things you need to consider before making your purchase. Firstly, Montana is a non-disclosure state, meaning real estate sales prices and related property information are kept confidential. Why would this matter to a potential buyer? Because with no sale history it can be difficult for the public to assess the current property value. With a steady rise in the average price per acre of land, buyers must work with a highly experienced ranch professional. This also means it can be hard to trace where the buyers are coming from. Corder and Associates is seeing an influx of out-of-state buyers as well as numerous sight-unseen purchases. Sight unseen is when a buyer makes an offer without having ever set foot on the property. Offers are being made way over listing prices, and buyers are still losing out in bidding wars. Some real estate agents are adapting by hosting Facetime or skype showings for buyers. Here at Corder and Associates, we have created a virtual 360-degree land tour that is exclusive to our brokerage and allows for an interactive virtual tour experience of the land helping procure out-of-state buyers that are unable to physically visit the property. Unfortunately, the effect of supply and demand means higher prices and is pricing out the local offers. The Montana Land Source reports a 55% decrease in the number of listings compared with a year ago at this time in Montana. The Montana Land Source also notes the average price per acre as being $2,457, a 32% increase from last year’s $1,681 per acre. The increase in values is consistent in all four states of MT, WY, CO, and ND that Corder and Associates is licensed.
Real estate on the Rocky Mountain Front is highly sought after. With millions of acres of beautiful valleys, scenic landscapes, grasslands, creeks, rivers, and more, purchasing and owning land in these states can make for a very valuable asset. The vast splendor alone is what brings visitors to ski in Sun Valley, explore national parks such as Yellowstone, attempt fly fishing at Triple Creek Ranch, and even horseback ride through Lone Mountain Ranch every year. Even Ted Turner could not deny the grandeur of Montana, owning the Flying D Ranch, one of the largest ranches in the state. Whether you’re set on living a rural life cattle ranching or living your life on the slopes, there is something for just about anyone to enjoy in owning land in these prolific areas and infinite value to owning land there. These unlimited recreational attributes have brought buyers from throughout the continental US and abroad in hopes of purchasing their ultimate legacy farm or ranch leaving the local producers of the land struggling to compete in the market. We pray every day for the wisdom to best advise people on their real estate goals. We take our role in finding new stewards for the special properties in our region very seriously. Before you list or buy a high-quality investment property, give us a call.
