The 2024 FCC Farmland Values Report came out mid-March —and Saskatchewan is leading the country once again.

While national farmland values rose by 11.5%, Saskatchewan’s average cultivated land values jumped by 13.1%, making it the highest provincial increase in Canada.

So what’s driving the growth? And what should landowners, buyers, and sellers keep in mind?

Let’s break it down.

1. Northern and Central Regions Are Driving the Increase

Some of the biggest jumps in land values came from areas with good growing conditions and strong demand:

• North Western region: +19.9%

• North Eastern region: +17.9%

• West Central region: +17.8%

• East Central region: +17.0%

These areas saw a mix of larger landowners expanding their base, good moisture conditions, and high-quality soil that performed well under dryland conditions.

2. Irrigated Land Stands Out

In the West Central region, irrigated land values jumped by 25.8%—one of the most dramatic increases anywhere in the province and country.

That’s due to the scarcity of irrigated acres, ongoing dry conditions, and growing interest from both producers and investors. The announcement of the Westside Irrigation Rehabilitation Project also helped spark additional confidence in the region.

3. South Western Still Saw Modest Gains

Even in drier areas like the South West, values still rose—up 4.1%—thanks to ongoing demand for premium quality soils, despite less-than-ideal growing conditions in 2023.

4. Pastureland Holds Steady

Pastureland saw a provincial average increase of 8.9%, with the South West leading the way at +15.9%. The value range remained tight, meaning the land holds its value consistently regardless of where you are.

Read the full report here: https://www.fcc-fac.ca/en/knowledge/economics/farmland-values-report

So What Does This Mean for You?

If you’re a landowner, this report confirms that your farmland is holding strong—or gaining ground. Whether you’re thinking about selling, refinancing, or just curious about land performance, this year’s numbers are promising.

If you’re a buyer, there are still good opportunities to invest, especially in regions with stable prices and long-term potential. Irrigation-ready or high-quality dryland acres continue to be in demand. Land continues to be a strong investment.

Want to Know What Your Land Is Worth?

This report offers averages, but every farm and field is different.

If you're wondering what your land might be worth in today’s market, or thinking about expanding or selling, give us a call. We’d be happy to walk you through what we’re seeing on the ground.

📞 Call Dale at 306-774-6100

Your Prairie Professionals in Farm and Ranch Real Estate in Saskatchewan.

If you're a farmland owner in Saskatchewan, the question of whether to sell your property has likely crossed your mind. The current market conditions present a unique opportunity that makes now an excellent time to consider selling. Here’s why:

1. Strong Demand for Farmland

Farmland in Saskatchewan is seeing a surge in demand, driven by several key factors. Agricultural expansion continues as the global need for food grows, making productive land more sought after than ever. At the same time, farmland has become an appealing investment, attracting interest from a diverse range of buyers. These trends, combined with favorable financing conditions, are creating a competitive market where farmland is in high demand.

2. Rising Farmland Values

The value of farmland in Saskatchewan has been steadily climbing, with prices showing consistent growth. According to Farm Credit Canada's 2023 report, farmland values in Saskatchewan saw a significant increase, with the average price rising by 15.7% last year. The most notable growth occurred in east-central Saskatchewan, where prices surged by an impressive 20.8%, offering an excellent opportunity for landowners to maximize their returns.

3. Optimal Market Conditions

Several factors are aligning to create a seller-friendly market:

• Strong Commodity Prices: High prices for key crops like wheat, canola, and barley have boosted farmers’ incomes, making them more likely to purchase additional land.

• Economic Stability: Canada’s agricultural sector remains robust.

• Technological Innovations: Advances in farming technology have increased the productivity of land, driving up value.

4. Regulatory Shifts

Changes in agricultural policies and land ownership regulations have opened up new opportunities for selling farmland. These include tax incentives, updated land use policies, or government programs designed to support the agricultural sector.

5. Generational Turnover

Many Saskatchewan farming families are at a crossroads, with older generations retiring and younger ones stepping in. This generational transfer has created a dynamic market, where there’s an influx of buyers eager to expand their operations. Selling position you to benefit from this active market.

6. High Return on Investment

By selling your farmland now, you can take advantage of the current market’s high returns, enabling you to reinvest in other ventures or secure your financial future. Whether your goal is to diversify your investments, retire, or embark on a new project, this is an ideal time to capitalize on your land’s value.

Trust the Murdoch Farm Team

Navigating the complexities of the Saskatchewan farmland market requires expertise, local knowledge, and a personalized approach. At Murdoch Farm Team, we bring this to the table. With deep roots in the local community and 30+ years of experience in farm real estate, we’re committed to your best possible outcome. From accurate market evaluations to tailored selling strategies, we’re here to guide you every step of the way.

Reach out to Dale or Murray at Murdoch Farm Team today to explore how we can help you make the most of your farmland sale.