Glacier FarmMedia — Manitoba led all provinces with a 12.2 per cent increase in farmland values in 2025, posting the strongest gain in the country despite trade uncertainty, relatively high interest rates and hefty input costs.
The 2025 Farmland Values report from Farm Credit Canada, released March 24, said agricultural land values were “resilient” last year and defied expectations of a downturn.
WHY IT MATTERS: Manitoba’s 12.2 per cent increase was the highest in Canada, and tight supply suggests prices aren’t cooling off anytime soon. That’s relevant for any producer thinking about buying, selling or renting land in 2026.
Prairies drive national gains
“The Prairie provinces drove much of the year’s average increase (across Canada),” the FCC report said.
In addition to Manitoba, producers made strong bids for available land, increasing values by 11.4 per cent in Alberta and 9.4 per cent in Saskatchewan, says the 2025 Farmland Values report from Farm Credit Canada.
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“The market remained supported by farmland’s long-term investment appeal, tight supply and strong competition from expansion-focused producers,” says the FCC report.
Provinces outside the Prairies saw weaker gains or losses:
- British Columbia posted a 1.7 per cent decline.
- Ontario rose just 2.2 per cent, and
- Quebec gained 4.8 per cent.
Buyers chase quality, skip marginal land
Across the Prairies, expanding producers are driving demand for the best land in the most productive regions while marginal properties lag.
“Good land in a good area is still going up,” said Tim Hammond of Hammond Realty in Biggar, Sask.
In 2025, price increases in northeastern, northwestern and east-central Saskatchewan were around 12 per cent — areas that produce the highest yields for key crops like canola and wheat. In west-central Saskatchewan, where yields are lower, farmland values increased 4.8 per cent in 2025.
The average price of cropland in northeastern Saskatchewan is getting close to $5,000 per acre. That’s a massive jump from 2019, when average values in the northeast were $2,000 per acre.
Southern Alberta irrigated land hits $20,000 an acre
In southern Alberta, dryland prices surged upward by a 16.4 per cent in 2025. Irrigated land, which is now at $20,000 per acre in the province, played a role in the value gains in southern Alberta.
As irrigation districts have expanded, dryland acres close to irrigated land have become more valuable, FCC said.
Land supply stays tight across the country
A major theme in the FCC report was the shortage of land for sale in multiple provinces and regions. This could be part of an ongoing trend, for the last 15 years, where retiring farmers rent their land instead of selling.
Whatever the reason for the shortfall of properties on the market, it’s clear that supply is “tight”, said J.P. Gervais, FCC executive vice-president of ag operations.
“This is something that has been certainly documented last year, and if I’m not mistaken, the year before,” he said.
“One of the overall drivers of farmland values, how tight the supply, does matter when (it) comes to the valuations that we’re currently seeing,” he added.
“Generally speaking, very tight availability of farmland (for sale).”
Pastureland values climbing too.
The FCC report had data on pastureland values, which saw a 5.2 per cent increase across Canada thanks to stronger prices for beef cattle over the last few years.
Gains were much higher in Alberta’s Peace region and northern B.C., where values climbed 17 to 18 per cent.
Across the Prairies, Saskatchewan saw the largest increase in pastureland prices of 7.6 per cent.
