Despite the economic downturn, farmers and acreage owners are hanging on to their land in 2020. Interest rates in Canada remain low, which could be part of the reason there is less farmland and vacant land being listed on the real estate market.
According to the most popular listing services, there was a surge of activity in the spring and early summer but many of those properties have changed hands and new listings have been scarce. Rural land prices are holding above average in Alberta for the time being and may remain high until interest rates move upwards.
Lake Properties are the exception to the rule, several listings have popped up in Lac la Nonne and Thunder Lake, perhaps a sign of people downsizing their debt or looking for liquidity in these shaky economic times.