If you’re a Saskatchewan farmer thinking about retirement, you’ve probably asked yourself a simple but important question.
What is my farm really worth?
There’s the market value and farmland across the province has seen strong appreciation in recent years, but most farmers know the land carries deeper meaning. It represents decades of work, sacrifice, and family history. In many cases, it’s part of who you are.
My own family’s farm reminds me of that. The small house my grandfather built, where my dad was raised, still stands. It represents our family’s roots. But my kids grew up in the city, and their connection is different. Many families across Saskatchewan feel the same. What the land means to you may not be what it means to the next generation. That’s why, when retirement approaches, the decision around what to do with the farm becomes both financial and personal.
Farmland Values Are Strong With Signs of Change
According to Farm Credit Canada, Saskatchewan farmland values increased 13.1% in 2024 and 15.7% in 2023. Values have risen significantly over the past decade.
At the same time, long-term data suggests cycles do occur. In research compiled by Hammond Realty, Broker and Owner, Tim Hammond and analyst Trent Klarenbach review land values going back nearly a century, highlighting past periods where strong appreciation was followed by slower growth or stabilization. Their work includes examples such as the downturn in the early 1980s, when farmland values declined significantly before eventually recovering.
Tim also notes several recent trends farmers may want to be aware of:
- fewer competing offers on some listings
- a widening gap between high and second bids
- an increase in listings compared to previous years
- more farmland gradually coming up for sale
These are not predictions. They are simply observations drawn from current market activity and long-term historical patterns.
Why More Retired Farmers Are Selling
For generations, selling the family farm was uncommon. Most land was kept or rented. In the past 18–24 months, however, more long-time landowners have chosen to sell — not out of necessity, but out of intention.
As Tim Hammond writes in his article “Retired Farmers: Shifting the Landscape in Farmland Investment,” many retired farmers are choosing to sell after years of renting. Some reasons include:
- Strong market values: After many years of appreciation, some feel this is an appropriate time to simplify.
- Rental return considerations: Farmland rents have not increased at the same pace as land values, creating modest rental yields.
- Lifestyle preferences: Some retirees prefer predictable income sources and less day-to-day management.
- Family conversations: If the next generation isn’t planning to farm, some families prefer to make the decision together rather than leave it for later.
These decisions are not purely financial. They reflect long-term planning and family values.
Legacy Matters
Selling farmland is never just a transaction. It’s a personal decision tied to identity, family expectations, and future goals.
For some families, legacy means keeping the land in the family. For others, it means using the value from the land to support children, help grandchildren, or create financial flexibility in retirement. Both paths honour the work that built the farm.
At our Life After Harvest discussions, Tim Hammond and I often hear the same theme, clarity brings confidence. Whether the right path is keeping, renting, or selling, what matters most is choosing intentionally and in alignment with your values.
At our upcoming FREE Life After Harvest Seminars - March 6th in Prince Albert, and March 7th in Saskatoon, we will share practical insights to help farm families navigate today’s land, financial, and estate planning decisions with greater confidence and less uncertainty.
🎟️ Register today to save your seat
Planning the Next Chapter
Every family’s situation is unique. After more than three decades working with farm families, I’ve seen that successful transitions usually come from taking time to think things through.
Some helpful questions include:
- What do I want retirement to look like?
- Who, if anyone, plans to continue farming?
- What income sources will I rely on in retirement?
- If farmland values changed over time, how would that affect my plans?
Accountants, lawyers, and advisory teams can all play an important role in helping you explore options. For those who want to understand more about today’s farmland environment, Hammond Realty provides publicly available market research at hammondrealty.ca/research.
Closing Thoughts
A farm’s true value is more than its price. It reflects the life it helped build, and the opportunities it can create for the next chapter.
Whether your plan involves keeping the land, renting it, or exploring a sale, take the time to think about both the financial and personal sides of the decision. You’ve invested a lifetime into your farm. Ensuring you make decisions with clarity and confidence is what matters most.
If you’re reflecting on this, conversations can help. There’s no obligation, sometimes simply talking through the options brings peace of mind.
Kevin Hegedus, CFP®, CIM®
Portfolio Manager, Managing Partner,
Q Wealth Partners. Founding Partner, PWM Private Wealth Counsel
Disclaimer:
PWM Private Wealth Counsel provides financial planning services.Portfolio Management Services are provided by Q Wealth Partners, a registered Portfolio Manager, Investment Fund Manager, and Exempt Market Dealer.PWM Private Wealth Counsel is an Owner and Partner in the Q Wealth Partnership.
Sources and References:
- Hammond, Tim. Is a Farmland Correction Coming? What 100 Years of Data Tell Us About Saskatchewan Land Values. Hammond Realty, 2024.
- Hammond, Tim. Retired Farmers: Shifting the Landscape in Farmland Investment. Hammond Realty, 2024.
- Farm Credit Canada. Farmland Values Report 2024.Klarenbach, Trent & Hammond, Tim. Historical Farmland Data Analysis Series, Hammond Realty Research.
