Central Alberta farmland average prices highest in Canada

StettlerLocal.com March 31, 2021 @ 3:00pm

Alberta’s farm economy saw an increase of six percent in land prices last year, and the national average increase was 5.4 percent.


Here in Central Alberta, and according to the latest land price report from Farm Credit Canada, the increase was the highest in Canada with the average land price at $4,700, an increase of 9.6 percent from a year ago.


Farmers have seen many changes over the years, and with historically low interest rates and an unusual year with COVID, it doesn’t appear to have impacted farmland sales.


Joy Nichols, Broker/Manager, Royal LePage Central, has been selling farmland in the Stettler area for the past five years.

“There’s not as much of an increase in farmland price as there was 4 to 5 years ago but we’re still seeing a steady rate of increase. As for inventory, there’s less it would seem and when farmland does become available for sale, if it is priced right, it is sold right away. Pricing it at market value makes the difference. There wasn’t a trend in the farmland purchased in the last year. Most of the land we see selling is investment purchases or expansion of existing larger cattle or farm operations.” - Joy Nichols, Broker/Manager, Royal LePage Central

For Alberta’s 2019 Agriculture stats, visit https://open.alberta.ca/publications/1929-4263


The last Canadian census of agriculture was done in 2016. For more information on farmland prices in 2020, visit Farm Credit Canada at

https://www.fcc-fac.ca/en/knowledge/economics/farmland-values-report.html


The full report is available at

https://www.fcc-fac.ca/fcc/resources/2020-farmland-values-report-e.pdf


Jody Craig, Reporter

StettlerLocal.com

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