Elmwood Park, Edmonton - October 2026 Real Estate Report
Elmwood Park, Edmonton: Your Neighbour Just Got a Better Number Than the City Gave Them
The Vibe Right Now
If you've been watching the "For Sale" signs on your street, here's what's actually happening in Elmwood Park. The market is taking a breather - but it's not falling apart. Houses and condos are telling two very different stories, and knowing which one applies to your property could be worth real money this summer.
Houses - The Honest Picture
The average house sale price sits at $354,000, which is down 7.0% from last month. That sounds alarming, but context matters. Only 3 houses sold, so one or two deals can swing that number hard. The HonestDoor Price for houses is $365,604 - and that's the number we'd pay attention to. It's sitting above the 3-month moving average of $369,951, which tells us values have dipped slightly but haven't fallen off a cliff.
- Average sale price: $354,000 (down 7.0% from last month)
- Average list price: $300,000
- Homes selling at 97.33% of list price - buyers are getting small discounts
- Average days on market: 79 days
- Price per square foot: $272
- 3 houses sold in the period
- Rental yield: 5.88% - that's a strong return for investors
- Estimated rent: $1,916 per month
79 days on market is on the slower side - Elmwood Park ranks 70 out of 116 Edmonton neighbourhoods for selling speed. Sellers need to price sharp. Buyers, meanwhile, have a bit of room to negotiate. The sale-to-list ratio of 97.33% confirms that - you're not going to get a steal, but you're not getting into a bidding war either.
One bright spot for anyone thinking about holding: that 5.88% rental yield is genuinely strong. Estimated rent of $1,916 a month means a house here can pay its own way if you're not ready to sell.
Condos - A Different Animal
Condos in Elmwood Park are a very affordable entry point - almost to a fault. The average HonestDoor Price is $71,732, up 0.91% from the previous period. One condo sold at $83,500, with listings averaging $89,000. Buyers paid 93.82% of list, meaning there's more negotiating room here than on the house side.
- Average sale price: $83,500
- Average list price: $89,000
- Condos selling at 93.82% of list price
- Average days on market: 92 days
- Price per square foot: $92
- 1 condo sold in the period
- Rental yield: 4.36% - moderate returns
- Estimated rent: $391 per month
Condos here rank 216 out of 218 Edmonton neighbourhoods on price - so we're talking about some of the most affordable units in the entire city. That's a double-edged sword. Great for a first-time buyer watching their budget. Tougher for a condo owner hoping for big appreciation. The 92-day average on market confirms these take patience to sell.
The Secret Sauce - Why Your HonestDoor Price Beats Waiting for the City
Here's the thing about Edmonton's assessed value: it's a snapshot from months ago, built on old sales data and a formula that doesn't know your renovated kitchen or your neighbour's recent sale. The city's average assessed value for Elmwood Park houses is $355,122. The HonestDoor Price? $367,113. That's a $11,991 gap - and it's the difference between what the government thinks your home is worth and what the real world is actually paying right now.
The HonestDoor Price updates in real time. It pulls in current sales, current market movement, and current demand. If you're making any decision - selling, refinancing, or just figuring out if your property tax bill makes sense - the HonestDoor Price is your real-world check against a number the city set months ago.
Elmwood Park's HonestDoor Price is also 3.38% higher than Edmonton's average assessed value across the city. That means this neighbourhood is holding its own relative to the broader market, even while prices take a short-term dip.
The Neighbourhood Leaderboard
Where does Elmwood Park actually stand among Edmonton's 285-plus neighbourhoods? Here's the honest scorecard for houses:
- Growth rate rank: 107 out of 285 - above average. We're in the top 38% of Edmonton for growth.
- Price rank: 229 out of 285 - among the more affordable options in the city.
- Days-on-market rank: 70 out of 116 - slower than average to sell, so pricing matters.
- Year-over-year neighbourhood growth: 0.14%
Compare that to our neighbours. Eastwood clocks in at 0.11% growth and a HonestDoor Price of $342,696 - cheaper and growing slower. Balwin is at 0.10% growth with a price of $363,194 - also cheaper and slower. Elmwood Park is quietly outperforming both of its closest neighbours. That's not nothing.
So What - Should You Sell This Summer?
If you own a house in Elmwood Park and you've been sitting on the fence, here's the straight talk. The market is softer than it was - 79 days on market and a 7% month-over-month price drop are real signals. But your HonestDoor Price of $365,604 is still well above what the city assessed you at, and the neighbourhood is growing faster than Eastwood and Balwin. You're not in a bad spot.
The risk of waiting? Values have slipped 1.51% recently and the 3-month trend is pointing slightly down. Summer typically brings more buyers to the table in Edmonton, so if you're going to list, sooner beats later. Price it right from day one - homes that sit for 79 days usually do so because they started too high.
If you own a condo, the calculus is harder. One sale per period, 92 days on market, and a price rank near the bottom of the city means you need to be realistic about timeline and price. The 4.36% rental yield is moderate - holding and renting is a reasonable alternative to a slow sale in a soft condo market.
Either way, pull your HonestDoor Price before you do anything else. It's the most current number you have - and in a market that's moving, current is everything.
elmwood park | edmonton | october 2026This 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.