Saskatchewan continues to offer some of the lowest per-acre values in the country
Saskatchewan led the nation with the highest increase in farmland values, which surged by 13.1% in 2024. This follows a 15.7% increase in 2023 and a 14.2% rise in 2022. Saskatchewan continues to offer some of the lowest per-acre values in the country, while also boasting the largest number of cultivated acres nationally.
The average value of Canadian farmland rose by 9.3 percent in 2024, continuing a steady upward trend observed in recent years, according to the latest FCC Farmland Values Report. While the increase was slightly lower than the 11.5 percent growth recorded in 2023, the upward trajectory highlights the sustained demand for farmland despite some pressure on commodity prices.
J.P. Gervais, Chief Economist at Farm Credit Canada (FCC), explained that the 2024 rise in farmland values reflects a combination of strong demand for agricultural land and limited supply. “The increase in farmland prices reflects an ongoing strength in demand for land, coupled with lower borrowing costs and a constrained supply of land available for sale,” Gervais stated.
