What’s Really Going On with Recreational Land in Eastern Iowa Right Now?
If you’ve been keeping an eye on real estate around Eastern Iowa, you know land prices are always a big topic of conversation. But while regular farmland goes through its normal ups and downs, something very interesting is happening in the recreational market across our area—especially up through Jones, Delaware, Clayton, Allamakee, and Winneshiek Counties. There is currently a demand for recreational land.
Properties with good timber, river access, or great hunting are bringing prices that go way past what traditional appraisals say they should, and honestly, way higher than what most real estate agents expect.
Highest & Best Offers Aren’t Always Winning
I’ve seen this firsthand recently. I was working on the buyer side for two different clients on two different recreational properties in our area. Both properties hit the market at list prices that were already pretty high for the area.
On both deals, multiple buyers jumped in, and the sellers asked everyone to submit their “highest and best” offer. My buyers stepped up and increased their price significantly above the asking price on both properties.
And we still didn’t get either one.
In both situations, another buyer came in and went even higher than we did. It showed me just how much demand there is out there right now for a good piece of ground.
Knowing how bad one of my buyers wanted a good-sized property, I changed tactics and started digging around for off-market options. I ended up finding a 380-acre tract that fit exactly what they were looking for. Because finding a big block of land like that is so tough right now, my buyers were more than happy to pay a much higher price per acre than what you’d typically see for recreational dirt. To them, getting the exact size and setup they wanted was worth every penny.
What’s Driving This Demand for Recreational Land?
There are a few simple reasons why land in the Driftless region and Eastern Iowa is selling so fast:
- Location: Being close to places like Dubuque while getting the hills, trees, and scenery of the Driftless area makes this a place people really want to be.
- Water: People want water. If a property sits along a river or has a good creek running through it, interest goes through the roof.
- Scarcity: There just aren’t many good properties coming up for sale. I have a long list of buyers on my phone right now calling and asking for recreational ground, and whenever something good hits the market, everybody jumps on it.
This Isn’t Ag Money
One thing to keep in mind is that these prices aren’t really connected to the rest of the farm market.
Traditional crop ground is tied to grain prices and farm income. But the money coming into these recreational properties isn’t coming from farming. It’s coming from people who made their money in other businesses, and they are looking for a place to get away. They want privacy, solitude, and a quiet spot to take their family, hunt, and just be unbothered. Because it’s a lifestyle choice for them, they aren’t looking at the price per acre the same way a farmer looks at tillable ground.
The Demand for Recreational Land is Also Impacted Non-Profits Joining the Market
Another trend I’ve noticed lately is an increase in non-profit organizations buying up land in our area.
Some of these groups have the funding to come in and buy properties to turn them into public access land for hunting, fishing, and hiking, which is really cool to see for the community. Others are buying tracts to use as private retreats or conservation spots for their own specific goals. Either way, they have the funds to compete, which makes the market for available land even tighter.
The Bottom Line
If you own timber, river property, or hunting ground in Eastern Iowa, you’re sitting on something people are actively hunting for right now. There is a high demand for recreational land.
And if you’re a buyer, it just means you have to be ready to move fast, think creatively, and sometimes look off-market to find the right spot. If you ever want to chat about what your ground might be worth or what you’re looking to buy, give me a call anytime!