Illinois Farm Sale: Recreational Land Interest Soars

Here’s a breakdown of the key details from the provided text, focusing on the recreational land/hunting market:

Key Trends & Market Strength:

Strong Market: The market for recreational hunting land is currently very strong – the strongest it’s been in 10 years.
High Demand, Low Inventory: Low inventory combined with high demand is driving up prices, even with recent interest rate increases.
1031 Exchanges: A significant number of transactions are utilizing 1031 exchanges (allowing deferral of capital gains taxes when reinvesting in similar properties).
Upgrade Mentality: Hunters are frequently seeking to “upgrade” their properties, leading to more frequent transactions rather than long-term holding.
Focus on deer Hunting: Hunting, notably deer hunting, is a major draw for people to areas like western Illinois.

whitetail Properties Sales: Whitetail Properties Real Estate reported $3.4 billion in sales in 2024. Hunting Expenditures (U.S. Fish & Wildlife Service – 2023 Report):
Total hunters: 14.4 million
Total days spent hunting: 241 million
Total trips: 165 million
Total spent: $45.2 billion
Trip-related expenses: $12.3 billion
Hunting equipment: $19.6 billion
Big Game Hunters: spend the most time and money on hunting.

Changes in Clientele:

* High Net Worth Individuals: Increasing prices are attracting more high net worth individuals and business owners who can afford to pay cash or have strong cash flow.