If you’re in the market for some acreage to buy in a quiet place for your family and friends to play, you’re not alone. Last year sales of recreational properties in southwest Montana boomed, especially at high-dollar places like Big Sky. Ag land has also remained a hot commodity as beef prices have stayed high. Land sales dipped sharply back in 2008 when the United States economy took a nosedive. Since then land sales have climbed and in some places exceeded previous trends. That’s partly due to a better economy and interest rates that have remained low.
As hot as Montana’s market may seem, it still ranks low compared to other states for irrigated and non-irrigated land prices, averaging just under $900 an acre. In comparison, similar acreage in New Jersey is selling for an average of $12,800 an acre.
To read more, see my story online on The Billings Gazette’s website at: http://billingsgazette.com/lifestyles/recreation/recreational-ag-land-sales-trend-up-in/article_2258506c-a056-58fe-9c53-073b6cb1dc36.html
(Written by Brett French – Outdoors Editor for the Billings Gazette)
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