Saskatchewan Farmland Prices: Are Land Values Still Going Up?

If you’ve been watching Saskatchewan farmland prices over the past few years, you already know the pattern: up, up, and up again. The question everyone in this market is asking now is whether that run has finally topped out, or whether there’s still room to climb. For anyone weighing a purchase, a sale, or simply wondering what their quarter is worth this year, that’s not an academic question. It’s the number that decides whether this is the year to sell the home quarter, add a parcel next door, or hold and see what next year’s assessment brings. 

Here’s what the data says about Saskatchewan farmland values right now, what’s actually driving the increase, and where things look to be headed across different parts of the province.

How Much Have Farmland Prices In Saskatchewan Risen?

Farm Credit Canada tracks farmland values across the country every year, and its 2025 Farmland Values Report confirms the trend has continued, just at a slower pace than the last two years.

• 2023: Saskatchewan farmland values rose 15.7%.
• 2024: Growth slowed to 13.1%, still one of the strongest years on record.
• 2025: Values climbed a further 9.4%, the smallest annual gain since 2022 — but still a meaningful increase stacked on top of two years of double-digit growth.

For context, Saskatchewan wasn’t the top performer nationally in 2025. Manitoba led with a 12.2% increase and Alberta followed at 11.4%. Saskatchewan’s 9.4% still extended a streak of annual gains that, according to FCC, now stretches back more than 30 years nationally — and 13 straight years in the current unbroken run.

Why the Increase Isn’t the Same Everywhere in the Province

A single provincial percentage hides more than it reveals, which is exactly why “are farmland prices going up” needs a regional answer, not just a provincial one. FCC’s regional breakdown for 2025 shows a real split:

• Northeastern, northwestern, and east-central Saskatchewan saw price growth close to 12%, well above the provincial average. Northeastern cropland (the province’s highest-yield growing region for canola and wheat) averaged close to $5,000 per acre by the end of 2025, up from roughly $2,000 per acre in 2019.
• West-central Saskatchewan grew more slowly, up 4.8% for the year, roughly half the pace of the northeast.

The pattern tracks land productivity. The regions putting up the strongest canola and wheat yields are the ones drawing the most buyer competition, and that competition is what pushes price per acre higher. Pastureland has followed a different path entirely, driven more by cattle prices and grazing capacity than by grain yields (we broke that market down separately in our look at why pastureland remains the rancher’s stronghold).

What’s Actually Driving Saskatchewan Land Values Higher

Three forces are doing most of the work behind this trend:

• Limited supply, steady demand: Farmland doesn’t come to market often. When a quarter does list, especially in a high-yield RM, several established operators are usually bidding for it. That scarcity is a bigger price driver than any single commodity report.
• Farm expansion, not speculation: Most of the buying pressure on Saskatchewan cropland is coming from existing operators expanding their land base — neighbouring farmers who know the soil, know the RM, and have been watching that quarter for years. FCC’s own language in the 2025 report confirms this: values were “supported by farmland’s long-term investment appeal, tight supply and strong competition from expansion-focused producers.”
• Multi-year commodity strength: Strong crop prices through 2023 and 2024 gave many producers the balance sheet to bid aggressively when good land became available, and that carried into 2025 even as growth cooled.

What a Saskatchewan Farmland Realtor Is Seeing Right Now

Provincial averages are useful context, but they don’t tell you what’s happening in your RM. Grant Ostapowich, the realtor behind MySaskFarm.com, has been working farmland transactions across Saskatchewan for 17 years (and farming it for 30 years before that) so his read on local market activity goes well beyond what any annual report captures. Here’s what we’re seeing on the ground:

Through the first three quarters of 2026, local demand for farmland has stayed strong, and that includes pasture and hayland, not just cropland. That isn’t surprising. There has always been, and always will be, a handoff between farmers retiring out of the business and operators still looking to grow. That steady rollover means neighbouring farms keep competing for the same parcels, and that competition keeps land values strong and climbing.

What has changed is the pace. We expect Saskatchewan land values to settle into single-digit annual growth for the foreseeable future, which lines up with FCC’s 9.4% figure for 2025. Producers still need to watch the bottom line and stay profitable, and the 18% to 23% yearly jumps we saw a few years ago were never sustainable. Slower growth is still growth.

Why Retiring Farmers Often Sell Through a Realtor, Even to Neighbours

That competition creates a challenge many sellers don’t see coming. Most of the retiring farmers we talk with want to stay friends with their neighbours long after they’ve sold. When several of those neighbours want the same land, choosing one buyer directly can feel like picking sides.

When we advertise the land, discuss it with buyers, and receive the offers on the seller’s behalf, the seller stays in a comfortable, neutral position. Every interested party gets the same fair process, nobody can say the seller favoured one neighbour over another, and it takes a world of stress off the seller’s shoulders.

Should You Buy or Sell With Farmland Prices Still Rising?

There’s no single right answer, and anyone who tells you otherwise probably hasn’t been a farmer. But the data does point to a framework:

• If you’re buying, prices are still rising, but the rate of increase is slowing. That’s different from the market cooling off completely. Waiting for a meaningful pullback in a high-demand RM has historically cost more in missed years than it’s saved in lower price per acre.
• If you’re selling, a 9.4% provincial gain on top of two years of double-digit growth means most Saskatchewan land is worth more today than it was 12 months ago, but regional variation means your specific RM matters more than the province-wide number. Get a current read on what your land is worth before assuming last year’s assessment still applies.

If the decision itself feels heavier than the numbers, that’s normal. We’ve written before about what makes selling farmland such a hard call, even in a rising market.

What to Watch Going Into Next Year

FCC’s next farmland values report typically lands in the spring, and it will be the next real data signal on whether Saskatchewan’s growth streak extends further or finally levels off. Between now and then, the RM-level activity in your area (not just the provincial average) is the number worth tracking. 

If you’re weighing a purchase or a sale in this market, browse current Saskatchewan farmland listings or reach out directly to talk through what the numbers mean for your specific quarter. With 47 years of combined farming and real estate experience, Grant from MySaskFarm.com has watched more than one cycle play out, and will give you a straight answer on what your land is actually worth.