MOOSE JAW — Farmland values continued to churn upward in 2024, posting an average 9.3 per cent increase across Canada.
Land value increase in Saskatchewan was the highest in the country for the second year running.
Farmers in this province saw land value increase by a robust 13.1 per cent, quite a bit less than the 18.7 per cent of 2023.
British Columbia prices averaged 11.1 per cent with Alberta at 7.7 per cent and Manitoba at 6.9 per cent.
Land prices within Saskatchewan regions varied wildly, ranging from increases of 4.7 per cent to 19.9 per cent for cultivated land.
In a similar vein price increases for pasture land varied from 2.9 per cent to 15.9 per cent.
The drought southwestern region saw the lowest rate on increase for cultivated land at 4.7 per cent, averaging $2,404 an acre. Price range varied from $1,400 to $4,000 an acre.
In pasture land the southwest led price increases at 15.9 per cent averaging $1,933 an acre. Prices ranged from $1,000 to $1,829 an acre.
Cultivated land prices in the northwest were up 19.9 per cent, averaging $3,500 an acre while northeastern prices were up 17.9 per cent for an $4,200 average.
West-central prices increased 17.9 per cent to average $3,500 while east-central prices increased 17.9 per cent to an average $3,200.
Southeast prices were up a mere 14.1 per cent to $3,300.
Irrigated land prices shot up 25.9 per cent to average $6,200 an acre in a range of $4,500 to $9,900.
Pasture land prices in the northwest increased 5.7 per cent to average $1,000 an acre.
In the northeast, pasture increased 11.7 per cent to average $992 an acre.
West-central pasture increased a mere 2.9 per cent to $1,002 an acre.
Ron Walter can be reached at [email protected] -30
