Many farms do both, as they are available at different times of the year. Many of these farms also do you-pick fruits during the summer. Christmas trees are more expensive, but they also are probably not as common, as each family would usually only have one tree but might have many pumpkins. You also have to take into account the people who prefer fake trees. But overall, I would say that pumpkin and tree farms go hand in hand and are often just different components of the same market.
In 2007, pumpkin sales in the U.S. totaled $117 million. In 2008 the sale of real Christmas trees was $1.03 billion with approximately 28.2 million trees sold. Trees are of course more expensive than pumpkins so I am not sure exactly what the conversion of pumpkin to tree would be, but that should give you an idea about the monetary difference between pumpkin and tree sales.
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