Published November 18, 2023

Brenda O’Farrell
The Advocate

The average value of farmland sold in Quebec edged upward slightly in 2022, according to the latest figures in a new analysis issued by La Financière Agricole du Québec earlier this month.

The average value of a hectare of agriculturally zoned land sold last year was $16,695, just $68 more than the average price of $16,627 registered in 2021, according to the Transac-TERRES 2023 report released Nov. 13.

The value of agricultural zoned land in cultivation, however, dropped in the last year, the report states. Although the prices for this category of land is comparatively higher, the average selling price in 2022 dropped compared with the previous year. The average price of a hectare of cultivated farmland sold in 2022 was $27,419 – or $1,126 less than the $28,545 average recorded in 2021.

The report was compiled based on all sales of agricultural land in the province recorded on official land registries from 2019 to 2022.

Among other findings in the report was the wide range of land values seen in farmland from one region of the province to the other. These figures varied from a low of $1,100 per hectare in Abitibi-Témiscamingue to a high of $42,000 per hectare in the western end of the Montérégie region.

The majority of sales – 71 per cent – were concentrated in five regions – Chaudière-Appalaches, Montérégie, Estrie, the Bas-Saint-Laurent and the Centre du Québec.

La Fianancière stressed that a number of factors influence the price of farmland, including demand for land in a certain area, conditions of a particular sale and the quality of the soil.

Scroll to Top