As we surpass the midpoint of 2026, land markets across the United States continue to be shaped by the enduring appeal of quality ranches, productive landscapes, and premier recreational properties. While market conditions have evolved over the past years, demand for exceptional land remains healthy as Buyers take a more thoughtful and strategic approach to acquisitions. Across many of the markets represented by Live Water Properties, Brokers continue to report healthy Buyer activity, reflecting a market that remains fundamentally strong even as Buyers take a more deliberate approach to purchasing decisions.
According to Live Water Properties’ COO and Partner John Merritt, the first half of 2026 has reflected what he describes as “a balanced market overall”.
“I’m thrilled with the first half of the year,” Merritt said. “I think we’re ahead of the game.”
While inventory levels vary from region to region, the underlying fundamentals remain strong. “There are places where inventory is light, so when things come on the market, they sell quickly,” Merritt explained. “There are also places where inventory is heavy, where Buyers simply have more time to evaluate opportunities before making a decision.”
Rather than signaling a slowdown, Merritt believes this shift represents a return to a more normalized marketplace, where pricing, expectations, and decision-making are becoming more aligned.
Market conditions across the South reflect a similar balance between cautious Buyer activity and continued confidence in land values. In the Mid-South, including the Arkansas Delta and West Tennessee, Live Water Properties’ Broker Scott Perry describes the market as being in a “wait-and-see” position, with Buyers approaching opportunities with greater consideration than in the previous two years. Despite a more cautious environment, values have remained firm, supported by limited inventory and continued demand for quality land.
Similarly in Southwest Georgia, Broker Davis Willis has observed a resilient market, noting that while the pace has moderated from the record-breaking years of 2020 through 2023, demand for high-quality land continues to outpace the supply of truly exceptional properties. According to Willis, “premium recreational properties and farms that are well-located and appropriately priced continue to generate strong interest despite a more balanced market.”
The well-rounded environment has also brought a noticeable shift in Buyer behavior. Rather than acting with urgency, today’s Buyers are taking the time to comprehend a property’s operations better, carrying costs, water resources, infrastructure, and long-term value before making purchasing decisions.
Colorado Broker Brian Hartley has seen Buyers “doing more of the legwork on the front end of a deal,” explaining that they are asking more detailed questions and developing a complete understanding of a ranch before crafting an offer. Montana Broker Zach Robbins has observed a similar trend, saying today’s Buyers are “more patient and analytical than they were five years ago.” Together, these insights reflect a market where thoughtful decision-making has replaced the fast-paced competition that defined the post-pandemic years.
Even with a more measured pace, demand for premier ranches and recreational properties remains strong. Across Live Water Properties’ markets, Brokers consistently report that well-positioned properties continue to attract interest. Scott Perry has seen recreational demand remain resilient despite broader economic conditions, while Merritt notes that “sporting properties without costly upkeep” are generating some of the strongest Buyer interest in 2026.
Buyers are prepared to move decisively when the right property becomes available. As Idaho Broker Adam Deakin notes, “Ranches that check all of the boxes and are priced appropriately are moving rather quickly.”
As demand for exceptional land continues to evolve, Live Water Properties is expanding its reach into new markets. John Merritt points to Alaska as an exciting area of growth, noting that while the state is a new market for the company, it is one they know well because of its unparalleled natural resources and recreational opportunities. Following the firm’s first successful transaction in Alaska, Merritt believes additional opportunities will continue to emerge. He also notes that as Live Water Properties grows its presence throughout the Pacific Northwest, including Washington, the firm is well-positioned to serve an expanding client base and capitalize on new opportunities across the region.
A CLOSER LOOK AT THE MARKETS WE REPRESENT
Rocky Mountain West:
Wyoming:
Wyoming continues to attract Buyers from across the country and around the world who are drawn to the opportunity to own a piece of the American West. The state’s open landscapes, recreational opportunities, and distinct Western character maintain an appeal that extends far beyond local and regional markets.
Greater access to private air travel has also expanded the reach of Wyoming’s land market. Buyers are increasingly able to consider properties based on lifestyle and long-term ownership goals rather than proximity to their primary residence. According to Merritt, “the accessibility provided by private aviation allows Buyers to travel quickly and comfortably to rural destinations where they once were difficult to reach.”
While preferences differ among Buyers, the qualities that define a truly premium Wyoming property have remained largely unchanged. Scarcity continues to distinguish the highest-quality offerings, as properties with a notable combination of location, natural resources, recreation, privacy, and lasting value are nearly impossible to replicate.
“True premium properties are hard to come by,” Merritt said. These opportunities are limited; knowledgeable Buyers recognize their value when they enter the market and are often prepared to act accordingly.
Wyoming’s distinctive landscapes and lifestyle continue to attract Buyers seeking more than a traditional real estate investment. For many, ownership represents an opportunity to preserve a meaningful Western asset for future generations.
Wyoming market insight provided by John Merritt
Montana:
Montana’s ranch and farm market continues to benefit from limited availability and sustained interest. According to Montana Land Source, the number of properties over 200 acres currently offered for sale is down 34%, while the median listing price per acre has increased 4% year over year. These conditions continue to support land values throughout the state.
One of the most notable trends in Montana is the growing demand for versatility. Buyers are increasingly seeking properties that combine productive agricultural operations with opportunities for recreation, conservation, family enjoyment, and long-term investment, a shift that Live Water Properties’ Montana Broker Zach Robbins says reflects growing demand for ranches that serve both as working landscapes and enduring family assets.
This demand for multi-use ownership is also influencing Montana land values. Recreational and lifestyle attributes now represent a significant component of overall value, particularly when paired with productive agricultural ground. Senior water rights, quality wildlife habitat, water frontage, privacy, conservation opportunities, well-maintained improvements, and convenient access to commercial airports remain among the most valued attributes. Compared to five years ago, Buyers are placing greater importance on water security and turnkey operations that allow them to immediately enjoy a property while maintaining its productive capabilities.
Montana market insight provided by Zach Robbins
Idaho:
Idaho’s ranch market remains to see activity across a range of property types and price points. According to Live Water Properties’ Idaho Broker Adam Deakin, several properties that had remained on the market for an extended period are beginning to trade, bringing renewed activity to certain segments of the market.
Interest continues to come from a broad mix of local, regional, and out-of-state Buyers. Cattle ranches are generating notable attention, especially well-rounded operations that offer hay production, contiguous acreage, and strong operational infrastructure. Live water also remains a significant factor in Buyer demand and continues to contribute lasting value within Idaho’s ranch market.
Large-scale ranches are experiencing strong activity as well, particularly above the $20 million price point. According to Deakin, ultra-high-net-worth Buyers continue to play an important role in shaping this segment of the market.
Idaho market insight provided by Adam Deakin
Colorado:
Colorado’s recreational ranch market continues to attract interest from all parties. Many out-of-state Buyers have established connections to Colorado through existing property ownership, family ties, skiing, hunting, fly fishing, or other recreational pursuits. Texas, Oklahoma, California, and the Southeast remain important feeder markets. At the same time, Buyers from Denver, Colorado Springs, and Northern Colorado continue to play an active role in areas within reach of the Front Range.
At the upper end of the market, mountain properties offering a combination of fishing, hunting, privacy, quality improvements, and convenient access continue to stand apart. Buyers are also placing greater emphasis on turnkey usability, reliable infrastructure, guest accommodations, and proximity to resort communities or airports. According to Live Water Properties’ Colorado Associate Broker Davis Murane, properties that offer an immediate lifestyle experience without requiring substantial additional investment are generating particularly strong interest.
Shared-amenity ranches have also emerged as an active segment of Colorado’s market. These properties allow owners to enjoy recreational opportunities and amenities such as fishing, hunting, and equestrian infrastructure. Many of these features would be difficult to obtain within the same budget on a stand-alone ranch. The ease of ownership, combined with opportunities for social connection and shared family experiences, continues to appeal to Buyers seeking a more accessible approach to ranch ownership. Live Water Properties Colorado Broker Brian Hartley points to Elk Creek Ranch along the White River in northwestern Colorado and Eagle Ridge Ranch in the Ohio Creek Valley between Crested Butte and Gunnison as examples of established shared-amenity communities generating strong activity in 2025 and 2026.
Colorado market insight provided by Brian Hartley and Davis Murane
The Southeast:
Tennessee:
Agricultural land values across West Tennessee and the broader Mid-South have remained steady through the first half of 2026. According to Live Water Properties’ Tennessee Broker Scott Perry, premium agricultural ground in West Tennessee is approaching $6,500 per acre. Tennessee is also ranked second in the nation for farmland appreciation in 2025, with values increasing 7.7%, reflecting the continued strength of agricultural land throughout the state.
One of the most notable trends in the Mid-South is the growing distinction between Buyers seeking purely agricultural ground and those pursuing recreational or dual-use properties. Institutional Buyers and regional operators remain active in the market for larger row-crop tracts, while recreational Buyers are placing greater emphasis on lifestyle, legacy ownership, and opportunities for client entertainment. In many cases, demand for waterfowl and hunting properties is operating independently of broader commodity market conditions.
The Mid-South Delta’s national reputation as a premier waterfowl destination continues to attract Buyers from well beyond the region. Properties along the Mississippi River corridor benefit from exposure across both Arkansas and Tennessee, while high-net-worth Buyers from major metropolitan areas are increasingly seeking properties that combine recreation with opportunities for corporate and family use.
Dual-use properties that generate agricultural income while providing a proven recreational experience continue to lead Buyer interest. While agricultural productivity remains an important foundation, today’s premium Buyer is also seeking documented waterfowl activity, established water-management infrastructure, quality lodging or lodge potential, and habitat improvements such as flooded timber, moist-soil units, and food plots. Turnkey properties supported by harvest data, habitat-management history, and a demonstrated recreational track record stand apart from comparable acreage without the same level of infrastructure or documentation.
Tennessee market insight provided by Scott Perry
Georgia:
Southwest Georgia continues to distinguish itself as one of the Southeast’s premier sporting and agricultural regions, where productive farmland and exceptional recreational opportunities remain closely intertwined. The area’s reputation for world-class quail hunting, trophy whitetail deer, thriving turkey populations, and productive farmland continues to attract Buyers from both within the region and across the Southeast.
While local farmers remain active, purchasers of adjoining agricultural land, larger recreational properties continue to draw significant interest from out-of-state Buyers, particularly from Florida. According to Live Water Properties Georgia Broker Davis Willis, these Buyers are attracted not only by the region’s sporting heritage but also by the long-term investment potential and lifestyle opportunities Southwest Georgia offers.
Compared to five years ago, Buyers expect a much higher level of development and stewardship. Professional wildlife management, productive pecan orchards, irrigated cropland, managed pine timber, quality lodging, equipment storage, established food plots, and well-maintained internal road systems have become increasingly important. Properties that combine these improvements with proven management practices and immediate recreational enjoyment continue to distinguish themselves within today’s market.
As the second half of 2026 unfolds, the markets represented by Live Water Properties continue to reflect the enduring value of exceptional land. Demand for high-quality farms, ranches, timberland, and recreational properties remains resilient across the country. From the Rocky Mountain West to the Southeast, the strongest properties continue to distinguish themselves through quality natural resources, operational value, and lasting recreational appeal. As market conditions continue to evolve, Live Water Properties remains committed to providing clients with the expertise and market knowledge needed to navigate opportunities with confidence.
Georgia market insight provided by Davis Willis
