In 2024, large tracts of land—whether for residential, industrial, or mixed-use projects—have seen steady activity, with buyers focused on adding value through entitlements. On the other hand, high-priced, fully-entitled parcels have faced slower demand, with interest but limited transactions.
As we move into 2025, low vacancy rates across sectors are expected to fuel more demand for land. However, top-of-the-market pricing may still need time to catch up with buyer expectations. Mid-market and well-priced parcels are likely to continue driving sales in the near term.
In this Year in Review Video, Matt Mellott, CCIM | SIOR offers a a closer look at Missoula’s land market trends and what could shape activity in the year ahead.
