The average sale price of a golf course in 2024 was over $6.87 million – a 38% increase from 2023.
This comes according to a report from Leisure Investment Properties Group.
“The rising valuations come as investors shift focus away from traditional real estate sectors such as apartments, retail, and office buildings. Private equity firms and investment groups are aggressively pursuing golf properties, reaching out directly to clubs that align with their acquisition criteria,” writes Club and Resort Business about the surge.
In 2023 golf courses were selling for just under $5 million.
The median sale price also saw big growth, rising almost 23% to over $3 million.
The Golf Boom Continues
According to the National Golf Foundation, just over 28 million Americans played golf in 2024, which is the highest participation rate since 2008.
Since 2022, six new facilities and 17 coursed have been added in the U.S..
According to Club and Resort Business, 51% of private clubs in the U.S. had a waiting list in 2024, up from 25% in 2019.
Initiation fees at private clubs reached a median of $50,000 in 2024, up from $45,000 in 2023.
For comparison, initiation fees in 2019 were “just” a median of $25,000.