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.