NAR Library & Archives has already done the research for you. References (formerly Field Guides) offer links to articles, eBooks, websites, statistics, and more to provide a comprehensive overview of perspectives. EBSCO articles (E) are available only to NAR members and require the member's nar.realtor login.
Golf Industry Outlook
How Fast Are Golf Courses Vanishing? Developers Have Gobbled Up Nearly 20 in the Last Five Years (South Florida Sun Sentential, Apr. 2, 2022)
“A little under 20 golf courses have been or are in the process of re-development in Palm Beach and Broward Counties over the past five years, signaling a growing trend as developers sniff out that rarest of commodities, open land. South Florida’s booming housing market has left developers hard pressed to find plots large enough for single-family home developments, making golf courses an optimal option to re-develop.”
Canada’s Golf Homes are Luring More Buyers (The New York Times, Apr. 1, 2022)
“Home sales in developments where golf is a primary attraction have increased — in some cases significantly — since the onset of the pandemic in Canada’s two most notable golf home markets: the Okanagan Valley in the southwest, and Muskoka in the southeast. The Okanagan Valley had close to $300 million in residential sales last year, a jump from $233 million in 2020, according to the real estate company Engel & Volkers.”
Amazon Effect? Developer Buys Florida Golf Course with Plans to Redevelop Into Housing – and Maybe a Gas Station (Golf Week, Jan. 6, 2022)
A defunct golf course in Tallahassee, Florida is in the process of becoming housing for a recently approved Amazon fulfillment center. The golf 9-hole, par-3 golf course was open from 1990-2018, will now feature housing, retail space, a gas station, convenience store, and restaurants to serve the anticipated 1,000 Amazon employees.
How Golf Hopes to Keep Winning After the Pandemic (The Wall Street Journal, Apr. 9, 2021)
“According to a report put together by the National Golf Foundation, golfers played 502 million rounds last year, the most since 2007. Research firm U.S. Golf Datatech reported a 13.9% increase in rounds played, the largest increase since the company began tracking in 1998. Also seeing growth: operations such as Topgolf, where players hit balls and enjoy a party-like atmosphere in individual spaces set up with bars and beverages.”
Can Golf Courses and Nature Coexist?
Earth Day and Golf (Golf Course Industry, Apr. 6, 2022)
“A person driving by a golf course might think of many other ways that land could be used, but what they don’t understand is there are tangible and intangible benefits they are receiving from that course. I would even argue that a community that’s subsidizing a public golf facility might be spending the best money they can spend, because they are preserving green spaces as well as access to the services the community receives from it.”
What is an “Organic Golf Course,” and Why Aren’t There More of Them? (Golf, Jul. 29. 2021)
“The good news is that pesticide-free golf does exist. A truly organic course is maintained without the use of synthetic pesticides, herbicides, or fertilizers—no artificial chemical treatments allowed. Following this rule requires adopting practices that, while proven, still rely on experimentation, investment, and time. Organic golf is complex and easily oversimplified.”
These New and Improved Golf Courses Embrace Their Natural Surroundings (Barron’s, Apr. 12, 2021)
Golf courses around the country are making taking steps to reduce their carbon footprint and incorporate, rather than fight against, their natural surroundings. Sage Run Golf Course in the Upper Peninsula of Michigan installed “300 fewer sprinkler heads” resulting in an overall water reduction of 30%, while the Sand Valley course in central Wisconsin is now “the heart of an 8,900-acre project to restore formerly over-harvested lumber acreage back into the region’s natural ecosystem.”
Is the Golf Industry Doing Enough to Combat Climate Change? (Green Biz, Apr. 9, 2021)
“In an effort to build back better, include city-owned golf facilities in any legislation that calls for grants, policies or loans that make them more accessible, inclusive and able to incorporate renewable systems. Investment in energy efficiency, water reclamation and irrigation systems, solar technology and alternative agricultural uses of unused space present golf courses as living laboratories for regenerative and circular urban ecosystems. Imagine if golf courses could grow enough food to feed an afterschool program or provide enough energy to power a homeless shelter.”
Impact on Property Value & Appraisals
Augusta Family Next to Masters Golf Course Keeps Turning Down Millions for the 1,900 Square Foot House (Insider, Apr. 6, 2022)
“The couple knows that the house won't be there forever. Even Herman's brother sold his home, said to be one of the nicest in the town, and two other properties for $3.6 million. The Thackers owned another property right across the street, but they sold it to the golf club for $1.2 million. But 1112 Stanley Dr., the home in which they raised their two children, five grandchildren, and five great-grandchildren, won't be bulldozed anytime soon. That hasn't stopped an official from the club from popping by the house every so often.”
Finding the Balance Between a Golf Course and a Golf Community (The New York Times, Apr. 1, 2022)
Golf Courses Are Adjusting to Longer Shots (The New York Times, Apr. 1, 2022)
As in any sport, advancement in equipment technology has drastically increased ad the capability of professional players over time. Golf is certainly not the exception, as ammtures and professionals alike are hitting balls further than courses were designed to hold them. But what about the homes that were built on golf courses when shots were shorter?
Golf Real Estate: Booming Markets Change Club Life (Golfweek, Jan. 19, 2021)
Now May Be the Time to Invest in a Golf Community (Million Acres, Jan. 7, 2021)
Golf Real Estate: Booming Markets Changing Club Life (USA Today, Jan. 19, 2021)
How Much Does Living Close to a Golf Course Add to Property Values? (National Recreation and Park Association, May 21, 2020)
American Society of Golf Course Architects
Golf Course Builders Association of America
Golf Course Superintendents Association of America
National Golf Course Owners Association
National Golf Foundation
The Society of Golf Appraisers
United States Golf Association
eBooks & Other Resources
Books, Videos, Research Reports & More
As a member benefit, the following resources and more are available for loan through the NAR Library. Items will be mailed directly to you or made available for pickup at the REALTOR® Building in Chicago.
Analysis and Valuation of Golf Courses and Country Clubs (Chicago, IL: Appraisal Institute, 2003). GV 975 Ap6
Golf Course Development in Residential Communities (Washington, D.C.: Urban Land Institute, 2001) GV 975 M91
Golf Course Development and Real Estate (Washington, D.C.: Urban Land Institute, 1994) GV 975 Ur1
Guidelines for Financing a Golf Course (Jupiter, FL: National Golf Foundation, 1994) GV 975 N21g
Golf Course Developments: Selected References (Washington, D.C.: Urban Land Institute, 1992) GV 975 UrL
Planning and Developing a Golf Range Complex (Jupiter, FL: National Golf Foundation, 1992) GV 975 N21p
Guidelines for Planning, Building and Operating a Golf Range (Jupiter, FL: National Golf Foundation, 1992) GV 975 N21g
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