Callaghan, Edmonton - August 2026 Real Estate Report

Callaghan Real Estate Check-In: Your Neighbour's Honest Take

The Headline

"So, what's actually going on with prices in Callaghan right now?" - We get that question a lot. Here's the straight answer: the neighbourhood is holding its value better than most people think, but the story is very different depending on whether you own a house or a condo.

The Vibe: Houses vs. Condos

Houses - Still a Strong Hand to Hold

If you own a house in Callaghan, the numbers are working in your favour. The HonestDoor Price for houses sits at $626,514 - and that number is actually climbing above the 3-month moving average of $624,434. That is a quiet but real upward signal.

• Predicted Market Value: $626,514
• 3-Month Moving Average: $624,434 (trending up)
• Average Assessed Value: $622,124
• Price Per Square Foot: $162
• Average Days on Market: 11 days
• Sale-to-List Ratio: 101.33% - buyers are paying over asking
• Estimated Monthly Rent: $2,963
• Rental Yield: 5.39%

Eleven days on market is fast. Really fast. The days-on-market rank for houses here is 10 out of 108 neighbourhoods in Edmonton - that puts us near the very top of the speed leaderboard. When a house hits the market in Callaghan, it does not sit. And the fact that the one sale this month closed at 101.33% of list price tells us buyers are still competing, even as the broader market takes a breather.

One thing to flag: the average sale price this month came in at $390,000, which looks like a big drop on paper. With only 1 sale recorded this month, that number reflects one transaction - not a trend. Do not let a single data point spook you.

On the neighbourhood leaderboard, Callaghan houses rank 143 out of 292 for growth - solidly above average in Edmonton. Price rank is 128 out of 285, also above average. We are not the flashiest neighbourhood on the list, but we are consistent and competitive.

Condos - A More Complicated Picture

The condo side of Callaghan is where you need to pay closer attention. The HonestDoor Price for condos is $275,306 - and it has dipped 2.29% recently. The 3-month moving average is $286,215, and the predicted value of $281,771 is sitting below that average. That is a softening signal worth watching.

• Predicted Market Value: $281,771
• 3-Month Moving Average: $286,215 (trending down)
• Average Assessed Value: $342,404
• Price Per Square Foot: $134
• Average Days on Market: 20 days
• Sale-to-List Ratio: 100% - balanced market
• Estimated Monthly Rent: $1,514
• Rental Yield: 4.22%

Here is the number that should get every condo owner's attention: the city's assessed value is $342,404, but the HonestDoor Price is $275,306. That is a gap of nearly $67,000. If you are making any financial decision based on that government assessment - refinancing, selling, or just feeling good about your equity - you could be working with a number that does not reflect what the market would actually pay today.

That said, condos here are still selling fast. The days-on-market rank is 14 out of 111 - again, near the top of Edmonton's speed leaderboard. And the price rank of 21 out of 218 puts Callaghan condos among the most expensive in the city. The market is balanced, not broken.

On the growth leaderboard, condos rank 188 out of 302 - below average. The recent value change of -0.77% confirms the market is cooling here. Not crashing - just taking a breather.

The Secret Sauce: Why Your HonestDoor Price Matters More Than Your Tax Assessment Right Now

The city assesses your property once a year, using data that is already months old by the time it lands in your mailbox. The HonestDoor Price updates in real time, pulling from actual market activity. For Callaghan house owners, the HonestDoor Price of $624,373 sits 0.36% above the average city assessment - a small but meaningful difference. For condo owners, the gap is enormous: the city says $342,404, the market says closer to $275,306.

If you are a condo owner and you have not checked your HonestDoor Price lately, now is the time. Knowing the real-world number - not the government's lagging estimate - is the difference between making a smart move and making an expensive mistake.

The "So What?" - Thinking About Selling This Summer?

Here is the honest breakdown for anyone considering a sale in Callaghan before the summer winds down.

If you own a house: the conditions are genuinely good right now. Buyers are paying over asking, homes are moving in under two weeks, and your predicted value is trending upward. The rental yield of 5.39% also means investors are circling - which adds to your buyer pool. Listing this summer puts you in a strong position.

If you own a condo: be strategic. Values are softening slightly and the predicted price is below the 3-month average. That does not mean you should panic-sell, but it does mean pricing it right from day one matters more than ever. The good news is that condos here are still selling fast and rank among Edmonton's priciest - you have a quality product. Just make sure your list price reflects the HonestDoor Price, not the city's inflated assessment.

Either way, Callaghan's neighbours - Rutherford, Allard, and Cavanagh - are all priced lower than us and growing at a similar or slightly faster pace. That means buyers who get priced out of those neighbourhoods may well be looking at Callaghan next. That is a quiet tailwind worth knowing about heading into summer.

This information is all based on our opinions based on the information available to us. Everyone's situation may be different and you should reach out to us for more personalized information.