The average value of Canadian farmland experienced a steady increase in 2025, with the Prairie provinces leading the way, according to a recent report from Farm Credit Canada (FCC). The value of Saskatchewan’s average cultivated farmland increased by 9.4 per cent in 2025, which was the third largest jump nationally behind Manitoba (12.2 per cent) and Alberta (11.4 per cent), according to the report – which released Tuesday. Within Saskatchewan, both the North Western and North Eastern regions saw the steepest increases at 12.1 per cent. In the North West region, the price of farmland per acre averaged $3,900 – with values ranging from $2,000 to $6,200. Prices were elevated in the North East, which recorded an average of $4,700 per acre in a price range of $2,200 to $6,300. In terms of irrigated farmland, the West Central and South Western regions saw the largest increase at 19.2 per cent, with an average price per acre of $9,800 and a value range of $7,300 to $11,700. Nationally, farmland values rose by an average of 9.3 per cent last year. According to the FCC report, the 10-year national average increase is 8.6 per cent while the five-year national average is 9.5 per cent. “Demand for farmland remained robust, supported by long-term confidence in Canadian agriculture, lower borrowing costs, strong livestock prices and the limited supply of land available for sale,” J.P. Gervais, ag production executive vice-president at FCC, said in a media release. “The ongoing uncertainties related to trade and tariffs; high input costs and low commodity prices did not deter buyers’ interest in farmland. These factors combined with varying local market conditions will influence future trends in farmland affordability.” According to FCC, average values for Saskatchewan farmlands increased by 13.1 per cent in 2024 and 15.7 per cent in 2023. Although the increased values are good news for current property owners, FCC noted they could present “significant” problems for those looking to enter the sector. British Columbia was the only province to experience a decline in average farmland values at -1.7 per cent.
