A new report says the value of farmland in Saskatchewan has grown amid soaring commodity prices and shrinking supply.
Values for high-end grainland in southern Saskatchewan have risen 20 per cent from a year ago, according to the report released Monday by ReMax.
Farmland in the Regina Plains, Canora and Kamsack areas is reportedly selling for as much as $2,000 an acre.
The largest increase was in the Balcarres area, where prices climbed to $1,800 an acre in July, compared to $1,000 a year earlier.
Meanwhile, agricultural land in the Moosomin, Kipling, Estevan and Moose Jaw areas is selling for $800 to $1,000 an acre.
Northern Saskatchewan saw year-over-year increases of 20 to 25 per cent. Farmland in the region is now selling for as much as $1,500 an acre.
However, the report notes that while grainland is moving within days or weeks of going on the market, livestock land has been slower to sell.
