Land
Hall and Hall Market Performance in 2025
Jan 22, 2026 | Hall and Hall
2025 Market Summary
In 2025, we operated in a land market that shifted toward a more deliberate, value-focused environment. Buyer interest remained strong amid limited inventory, and though transaction size varied widely, our average ranged between $8 million and $10 million, reflecting continued demand for investment-grade rural real estate.
Where did we see the most significant sale activity?
The three standout states were New Mexico, Texas, and Montana.
Each of these three states recorded over $100 million in sales volume. One of the year’s most notable transactions was the Great Western Ranch in New Mexico which carried an asking price of $115 million.
What was the average transaction size in 2025?
In 2025, our average transaction size ranged between $8 million and $10 million.
Deal sizes varied widely, but this range underscores the caliber of assets entrusted to Hall and Hall.
Were Buyers active in the 2025 land market?
Yes, buyers remained active but with a more patient and selective approach.
Buyers adapted a preference for more due diligence and a less-hurried approach, prioritizing long-term value.
How were Sellers pricing property in 2025?
Sellers were challenged to adapt their past expectations of the market.
Properties still commanded strong interest but not always at the fevered pitch of the recent past.
How did we adapt to the changing market?
Our core approach remained consistent.
We continued to emphasize deep local market knowledge, long-term client relationships, and thoughtful, experience-based counsel.
Why does Land remain an attractive asset class?
Opportunities within the rural real estate market remain compelling.
Land continues to be valued for production and recreation, as well as its conservation value and ability to offer privacy and relative permanence with a long-term safe, tangible asset class.
THE TAKEAWAY – ENTERING 2026
With the arrival of 2026, Hall and Hall will celebrate its 80th year with optimism rooted in this perspective: while the pace may have relaxed, the demand for quality land remains strong and we’re well-positioned to lead in a landscape defined less by urgency and more by thoughtful guidance and expertise.
