This is a brief video summary of the weekly Montana Land Report from Montana Land Source for the week of 3/31/2021. The Montana Land Report summarizes the week's activity in the Montana land market, as well as Montana land news and events, and goes out to over 5,000 recipients. The Montana Land Report is free and available at https://mtlandsource.com. Please like, share and subscribe.
"Hey, Andy Rahn here with Montana Land Source with this week's video summary for the Montana Land Report for March 31st, 2021.
So earlier this week I mapped three new properties in one day, which hadn't seemed like it had happened in a while. Not a lot of new properties entering the market. And I thought, maybe, here we go some new inventory, some new supply in the market balancing things out. But low and behold, in the past seven days out of a total of 30 property updates only 6 new listings total, and 13 pending sales and 9 sales. So over three times as many properties selling or going under contract then entering into the market. So we're continuing this pattern in 2021 of tightening and tightening supply and shortening inventory in the Montana land market.
Out of a total of 30 property updates:
• 2 properties back on the market
• 6 new listings
• 13 pending sales, and
• 9 sales
So an interesting phenomenon to watch. I’m not sure we've ever seen this before in terms of this tight of inventory in the Montana land market. Brokers say there's no shortage of buyers and extreme shortage of inventory and properties on the market. So again, we'll just watch and it'll be interesting to see how this balances out with where this takes us.
In news, Episode 2 Season 2 of the Ranch Investor podcast is out. A great podcast, we had Nick De Castro from LandTrust, which is similar to an Airbnb service for hunting and recreating on rural lands across the US. A very interesting platform, and a very interesting entrepreneurial idea there. An opportunity for land owners to capitalize on their asset, and be able to create income on hunting and fishing and on their property without having to do a lot of infrastructure creation in terms of outfitting. And also an opportunity for people who want to hunt and fish on land. So check out that podcast at https://mtlandsource.com. Very interesting.
And in the Montana Farm & Ranch Brokers Association meeting tomorrow here in Billings, we're going to have Kristina Rebellia, she's the founder and director of Western Water Market, another interesting online platform to learn about. They are attempting to create an online interface or market for water rights in the west. So that'll be very interesting to see that presentation. That's in person here in Billings at the Billings Association of Realtors office, but also available to participate via Zoom. If you go to https://mtlandsource.com to our events tab, you can find that event and find the zoom information for accessing that meeting tomorrow at 8 30.
And furthermore, if you have events or news relevant to the Montana land market please let us know and we will put that on our calendar and on our news feed. We want to share content relative to the Montana land market. So auctions, meetings, events, that kind of thing, continuing ed opportunities. Let us know and we will we will publish that.
That's the Report for this week. Thank you everybody. Please like this, please share this, spread the word for us. We appreciate that. We appreciate all you tuning in. Have a great week, a safe week, and we will see you next week. Thank you."