2025 Land Market Wrap: Price Growth, Sales Shifts & 2026 Predictions

 2025 Land Sales Recap: North Sublette County vs. 2024

Metric                                             2024            2025      Change

Parcels Sold                                     83                 59          −29%

Total $ Volume                              $9.8M         $10.3M       +5%

Median Sold Price/Lot                   $78K          $105K      +35%

Total Acres Sold                              625               547      −12.5%

Median Lot Size (acres)                   1.3               2.5    

Median Days on Market                   95                92         

 Key Takeaways from 2025

1. Fewer Transactions, Higher Prices

Although fewer land parcels sold in 2025 (59 vs. 83 in 2024), the total dollar volume still increased slightly (from ~$9.8M to ~$10.3M). This suggests buyers were paying more per parcel on average, even as total sales count dropped.

The median sold price jumped substantially, from $77,500 to $105,000 — a ~35% increase — signaling that the highest-demand properties (smaller, desirable lots) commanded stronger pricing.

2. Total Acres Sold Fell

While parcel count fell, total acreage sold also declined (547 acres in 2025 vs. 625 acres in 2024). A smaller average lot size (≈2.5 acres in 2025 vs. larger parcels in 2024) helps explain the drop in total acreage.

This shift likely reflects a buyer preference for smaller, more affordable parcels — especially land that’s easier to finance, develop, or enjoy recreationally — rather than big acreage tracts.

3. Days on Market Stable

Average days on market remained nearly the same, indicating that market pace hasn’t dramatically slowed despite fewer transactions. A median of ~92 days in 2025 (vs. 95 days in 2024) reflects a steady cadence where reasonably priced lots still transact in a predictable timeframe.

 Why Land Sales Were Down in 2025

Several factors at the regional and national level help explain the drop in land sales activity:

1. Rising Prices and Changing Buyer Focus
Even as fewer parcels sold, the median price jumped significantly — meaning that higher-value land drove the total $ volume. In many markets, higher prices can deter some buyers and limit transaction volume as budgets are strained.

2. High Borrowing Costs
Elevated mortgage and land-loan interest rates throughout much of 2025 discouraged some buyers. Higher rates often suppress buyer appetite for land (which is typically financed at higher spreads than homes) and shift demand to smaller, more affordable tracts paid for in cash.

3. Broader Land Market Dynamics
Nationally, farmland and rural land values have remained stable or only modestly increased, even as sales volumes softened. According to the REALTORS® Land Market Survey, land price increases have been aligned with broader real estate trends, even while transaction counts moderate. (National Association of REALTORS®)

4. Economic Pressures on Rural & Farm Buyers
Weaknesses in the broader farm economy — driven by rising production costs and pressure on farm incomes — have made larger acquisitions more challenging for agricultural buyers. Reuters reports that farm input costs and tightening credit have negatively impacted rural economies, potentially reducing land purchase activity. (Reuters)

5. Local Supply & Parcel Type Shift
With fewer large parcels marketed in 2025, some buyers gravitated toward smaller lots. Construction costs also shifted buyer interest to existing home sales which trended upward last year as compared to 2024. These shifts tend to reduce total acreage sold while supporting stable or rising per-parcel prices. 

 What to Expect in 2026

Interest Rates & Buying Environment

Interest rates for land (and home) financing remain elevated compared with previous years, and national mortgage data suggest that easing may be gradual. While the Federal Reserve cut the federal funds rate in late 2025 to support economic stability, long-term borrowing costs still operate in the low to mid-6% range for mortgages. Land loans, which typically carry higher rates, are unlikely to move dramatically lower unless broader financial conditions shift significantly and construction costs will likely continue to increase. 

Expect land buyers in 2026 to remain cautious — especially those using financing rather than cash — as higher rates and economic uncertainty temper bold acquisition strategies.

Forecast for Land Sales

Analysts predict a balanced land market in 2026, where raw and rural land values hold stable and transaction volumes rise only modestly. National forecasts suggest possible stabilization or small growth in land values as supply and demand find equilibrium, particularly if borrowing costs moderate or local income pressures ease. 

From a regional perspective, Wyoming’s rural land market — including pasture, ranch, and recreational parcels — has shown resilience, with moderate value increases even amid high rates. 

Additional trends shaping 2026 include:

Remote-work driven interest in rural parcels with utilities, access, and scenic appeal.

Continued appeal of land as a long-term asset and store of value. 

 What This Means for You

If you’re thinking about owning, selling, or investing in land in North Sublette County, these market dynamics highlight the importance of location, pricing, and parcel type:

Quality tracts attract interest even when overall sales volumes are down.

Smaller, affordable parcels that appeal to recreational or lifestyle buyers often transact more quickly than oversized acreage with operational constraints.

Sound pricing relative to comparable sales is crucial — both for maximizing sale proceeds and for attracting serious buyers in a more selective market.

*Want an accurate estimate of what your land could sell for — per acre — based on location and recent comparable sales?

 Call or text me anytime at 307-231-6486. I’ll provide a customized valuation and strategy tailored to your property.