25 years of farmland prices

Feb 24, 2023

In 1997, the average price for an acre of cultivated farmland in east-central Saskatchewan was $289. A decade later, in 2006, it was $297 per acre, or about $48,000 for a quarter section. Land prices in other parts of Saskatchewan were also flat during that 10-year period. Meanwhile, most landowners in Manitoba and Alberta saw modest gains.

In 2007, farmland prices spiked. In many regions, prices increased 300 to 500 percent from 2007-21. In east-central Saskatchewan, the average quarter section in 2021 was now worth more than $300,000. The historical record cannot predict the future, but it’s a reminder that there are boom and bust periods for farmland prices.

In Manitoba, farmland values in the eastern half of the province were around $5,000 per acre in 2021, a $2,000 per acre premium over the parkland and western Manitoba. That’s because yields are typically higher and there’s more heat units, making it possible to achieve 150 to 200 bushel corn crops.

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Video: From Conventional to Regenerative: Will Groeneveld’s Journey Back to the Land

"You realize you've got a pretty finite number of years to do this. If you ever want to try something new, you better do it."

That mindset helped Will Groeneveld take a bold turn on his Alberta grain farm. A lifelong farmer, Will had never heard of regenerative agriculture until 2018, when he attended a seminar by Kevin Elmy that shifted his worldview. What began as curiosity quickly turned into a deep exploration of how biology—not just chemistry—shapes the health of our soils, crops and ecosystems.

In this video, Will candidly reflects on his family’s farming history, how the operation evolved from a traditional mixed farm to grain-only, and how the desire to improve the land pushed him to invite livestock back into the rotation—without owning a single cow.

Today, through creative partnerships and a commitment to the five principles of regenerative agriculture, Will is reintroducing diversity, building soil health and extending living roots in the ground for as much of the year as possible. Whether it’s through intercropping, zero tillage (which he’s practiced since the 1980s) or managing forage for visiting cattle, Will’s approach is a testament to continuous learning and a willingness to challenge old norms.

Will is a participant in the Regenerative Agriculture Lab (RAL), a social innovation process bringing together producers, researchers, retailers and others to co-create a resilient regenerative agriculture system in Alberta. His story highlights both the potential and humility required to farm with nature, not against it.