Canadian cultivated farmland values continued to climb at a more measured pace, rising 3.8% in the first half of 2026 and 7.0% year-over-year (Table 1), reflecting resilient demand in a more selective market. Growth eased from the 9.3% gain recorded at the end of 2025, but farmland values remain far from "dirt cheap”. The story varied by region, shaped by local supply and demand conditions, rising production costs - including fuel and fertilizer - and uncertainty around trade, tariffs and international markets.
Prince Edward Island led growth over the first six months with farmland values up 11.9%, followed by Quebec at 6.2%. Alberta and Manitoba each increased 5.3%, while Nova Scotia gained 3.6%. Saskatchewan, Ontario and New Brunswick also posted gains of 2.6%, 2.4% and 2.1%, respectively. British Columbia was the only province to soften slightly, down 1.9%.
From coast to coast: Regional shifts in Canada’s farmland market
British Columbia’s cultivated farmland values fell 1.9% through mid-year and decreased 3.9% year-over-year, though conditions varied by region. The Cariboo-Chilcotin Region saw limited sales activity; however, demand remained relatively strong, and recent value softening did not signal a broader market downturn. In the South Coast and on Vancouver Island, values were stabilizing, although longer exposure periods and increased listing inventory continued to place downward pressure on these markets.
Alberta’s cultivated farmland values rose 5.3% in the first half of 2026 and were up 9.4% year-over-year. The North and Peace Regions with stronger sales evidence recorded more upward movement, while the other regions had limited transactions and held closer to previous value levels. In southern Alberta, dryland sales remained limited, with irrigation continuing to play a key role in land values and influencing nearby dryland acres.
Saskatchewan’s cultivated farmland values rose a modest 2.6% over the past six months and were up 6.7% year-over-year, reflecting a slower pace of appreciation than in recent years. Limited sales activity, across much of the province, kept values close to previous levels, as producers remained cautious amid higher input costs, tighter margins, trade uncertainty and variable weather conditions. West Central recorded the strongest regional gain, supported by a concentration of higher-quality land and more properties available for sale.
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