Bozeman Property Listed for $79 Million

Update 3/6/2025

The price of the Running Elk Ranch has been reduced to $69,000,000, click here to see the listing. 

5/7/2025

A property in Bozeman came on the market last week for a jaw-dropping $78,912,000.

The Running Elk Ranch is a 1,940 +/- acre property in the foothills of the Bridger Mountains. The property borders the Gallatin National Forest for 2.5 miles along the eastern edge of the property, and borders state land along part of the western and southern edges of the property.

There is a 3,553 sq.ft main home, a 2,926 sq.ft guest cabin, a 30,319 sq.ft equestrian facility (one of the largest indoor equine facilities in the area), a caretaker residence, and equipment shop on the property. The property also features a 1000-yard gun range, ponds, water features an outdoor riding arena, and stables. There is a site prepped for an additional primary home to be built. A portion of the property is operated as a local farm through a farm lease.

While there have been many impressive ranches listed over the years in Montana, this property is unique in that it is just 11 miles from downtown Bozeman.

Could this be the most expensive property ever listed in Bozeman? The data shows that it is.

The 79,582 acre Climbing Arrow Ranch located in Manhattan, Montana was listed for $136,250,000 and sold in 2021. But as far as Bozeman specific properties go, the most expensive property we’ve seen listed on the market was a 22,500+/- sq.ft home on 23.5+/- acres for $39,950,000 listed back in 2021.

The Running Elk Ranch is listed by Mike Schlauch at PureWest Christie’s Int’l Real Estate – Bozeman. Photos courtesy of the Big Sky Country MLS/Mad Badger Media.

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