Canadian Farmland Values Continue Upward Trend in 2024
The average value of Canadian farmland increased by 9.3% in 2024, continuing a long-term upward trend in farm real estate prices. While slightly lower than the previous year’s growth, this steady rise reflects ongoing strong demand, limited land supply, and lower borrowing costs.
For a full breakdown of 2024 Southwestern Ontario farmland values, check out the full report.
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Here is Ryan Parkers 2023 Land Values Study. Last year, Southwestern Ontario witnessed a steady uptick in farmland values of around 10%, compared to previous years’ leaps of 25%. Despite challenges like increased interest rates and a 35% drop in corn prices, land values remained resilient. Towards year-end, a decline in demand led to unexpected sales below market expectations. Looking ahead to 2024, the market is poised to be dynamic, offering lucrative opportunities. For insights on current market trends, reach out to us today!
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