The housing recession and weakened U.S. economy don't appear to be affecting farmland prices in most areas of the state.

In fact, slumps in others parts of the economy might be feeding the land market as buyers continue to pay top dollar for farmland in an effort to capture value and return on investment, according to an industry expert.

"I don't think I've ever seen land have the favored asset status as it does today," said Mac Boyd of Farmers National Co. in Arcola, a 35-year veteran of the farm real estate business.

"Everybody wants to own land because of its performance, which since 1986 has been going up."

Farmland values last year increased as much as 20 percent, according to Farmers National. Home sales in the state during the same time declined by a reported 31 percent.

Boyd said farmland in Macon and Effingham counties that four years ago may have been worth $2,500 to $3,500 per acre, recently fetched an average of $7,500 and $7,300.

Another recent sale of 250-plus acres located "in the path of development" in Champaign County, brought more than $15,000 per acre, he said.

"I don't think things (in the farmland market) have slowed at all," Boyd said. In fact "it's pretty much doubled in the last three years." He believes farmland continues to remain strong because of improved commodity prices, an influx of outside investment money, and a shortage of available properties.