Devonshire, Red Deer - August 2026 Real Estate Report

Devonshire, Red Deer: Your Neighbour Just Got a Better Offer Than You Think

If you own a home in Devonshire and you're still looking at your city tax assessment to figure out what your place is worth, stop. That number is already old. Here's what's actually happening on your street right now.

The Vibe: Houses vs. Condos

Let's be straight with each other - the two markets in Devonshire are telling very different stories this month.

Houses: Taking a Breather, But Not Broken

The average sale price for houses came in at $418,500 this month, which is down 8.9% from last month. That sounds alarming, but context matters. We only had 4 sales, so one or two lower-priced deals can swing that number hard. Listings are sitting at an average of $423,675, and homes are selling at 98.82% of list price - meaning buyers are paying close to what sellers are asking. That's not a collapse. That's a market taking a breath.

• Average sale price: $418,500
• Average list price: $423,675
• Price per square foot: $381
• Sale-to-list ratio: 98.82%
• Average days on market: 33 days
• Properties sold this month: 4

The HonestDoor predicted value for houses sits at $447,792 - and it's trending up from the 3-month moving average of $443,711. That gap between what homes are selling for right now and what the model says they're worth is worth paying attention to. On the neighbourhood leaderboard, Devonshire houses rank 26 out of 79 neighbourhoods in Red Deer for growth. That's solidly above average. We're not leading the pack, but we're not getting lapped either.

Rental investors, take note: estimated rent is $2,290 per month with a rental yield of 5.73%. That's a strong return by any measure in this market.

Condos: Fast-Moving, But Prices Are Sliding

The condo side of Devonshire is a different story. Only 1 condo sold this month at $195,000, and it moved in just 2 days - the fastest days-on-market rank in Red Deer at 1 out of 28 neighbourhoods. When a unit sells that fast, it usually means it was priced to move.

• Average sale price: $195,000
• Average list price: $214,444
• Price per square foot: $250
• Sale-to-list ratio: 90.93%
• Average days on market: 2 days
• Properties sold this month: 1

The HonestDoor predicted value for condos is $262,596, which is actually dipping below the 3-month moving average of $266,893. Condo values have shifted -5.40% recently, and the growth rank sits at 50 out of 71 neighbourhoods - that's below average for Red Deer. If you own a condo in Devonshire, this is a signal worth watching. The rental yield of 4.25% is moderate, not spectacular.

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

Here's the thing about your city assessment - it's a snapshot from months ago, sometimes longer. It doesn't know that house prices in Devonshire have moved, that rental demand is pushing yields above 5%, or that the predicted value for houses is sitting nearly $30,000 above recent sale prices.

The HonestDoor Price is updated in real time using actual transaction data, rental estimates, and market movement. For houses, that number is $448,166 - up 0.08% from the previous period. For condos, it's $263,783 - up 0.45%. These aren't guesses. They're the closest thing to a real-world check you can get without hiring an appraiser.

If you're making any financial decision about your Devonshire property - refinancing, selling, renting, or just figuring out your net worth - the HonestDoor Price is the number you should be starting with, not the one on your tax notice.

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

If you own a house in Devonshire and you're thinking about listing this summer, here's the honest take.

The market is softer than it was a few months ago, but buyers are still paying 98.82 cents on every dollar of list price. That means pricing matters more than ever. Come in too high and you'll sit for 33 days or more. Price it right and you're still walking away close to full ask.

The HonestDoor Price of $448,166 for houses is your anchor. It's above recent sale prices, which tells us there's still room to capture value - but only if you move before the market softens further. Devonshire ranks 13th in Red Deer for total transaction volume, which means this is an active neighbourhood. Buyers know it exists.

If you own a condo, the picture is more cautious. Values are trending down, and the growth rank of 50 out of 71 suggests other neighbourhoods are outpacing us right now. If selling is on your radar, sooner is probably better than later while the HonestDoor Price still shows a buffer above recent sale prices.

Bottom line: Devonshire is not a neighbourhood in trouble. Houses are holding real value, rentals are performing well, and we're sitting above average on the Red Deer leaderboard for growth. But the window to maximize your return is open right now - not six months from now when the next assessment rolls around.

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.