Empire Park, Edmonton - July 2026 Real Estate Report

Empire Park, Edmonton: Your Home Is Worth Way More Than the City Thinks

If you have been glancing at your latest city assessment and feeling a little underwhelmed, you are not alone. Empire Park homeowners are sitting on a gap between what the city says their home is worth and what the real world says - and that gap is significant. Here is what is actually going on in our neighbourhood right now.

The Vibe: Houses vs. Condos in Empire Park

We are seeing two pretty different stories play out depending on what you own here.

Houses: The market is taking a breather. Two homes sold this month, with an average sale price of $393,250 - down 10.5% from last month. Listings are sitting at around $359,000, and buyers are paying about 96.66% of the asking price, so yes, there is a little room to negotiate. Homes are averaging 55 days on the market, which tells us buyers are not rushing. That said, the predicted market value for houses sits at $614,661, which is actually ticking up from the 3-month moving average of $610,793. So the long-term direction is still positive, even if this month felt soft.

• Average sale price: $393,250 (down 10.5% from last month)
• Average listing price: $359,000
• Price per square foot: $404
• Average days on market: 55
• Sale-to-list ratio: 96.66%
• Predicted market value: $614,661
• Estimated monthly rent: $2,788
• Rental yield: 5.54%

Condos: A different story entirely. Only one condo sold this month, down 50% from last month, and the average sale price came in at $215,000 - down 13% month-over-month. But here is the thing: condos in Empire Park are moving fast when they do hit the market. The average days on market is just 27, which ranks us 20th out of 108 Edmonton neighbourhoods for speed. That is genuinely impressive. Condo values are also nudging upward against their 3-month average of $204,281, landing at a predicted $205,535.

• Average sale price: $215,000 (down 13% from last month)
• Average listing price: $219,900
• Price per square foot: $179
• Average days on market: 27
• Sale-to-list ratio: 97.77%
• Predicted market value: $205,535
• Estimated monthly rent: $1,121
• Rental yield: 4.31%

The Secret Sauce: Your HonestDoor Price vs. That City Assessment

Here is the number that should make every house owner in Empire Park pay attention. The city's average assessed value for a house here is $372,686. The average HonestDoor Price is $617,030. That is a difference of 65.56%. The city's number is not wrong - it is just old. Assessments are snapshots from the past, recalculated on a slow government schedule. The HonestDoor Price pulls from real-world sales data, current market signals, and live neighbourhood trends to give you a number that reflects what a buyer would actually pay today.

For condos, the gap is smaller but still real. The city says $187,110. HonestDoor says $202,222 - about 8% higher. And while the condo HonestDoor Price has dipped 1.61% recently, it is still tracking above the assessed value and above the 3-month moving average.

Bottom line: if you are making any financial decision - refinancing, selling, even just understanding your net worth - use the HonestDoor Price as your real-world check. The assessment is for tax purposes. The HonestDoor Price is for real life.

The Neighbourhood Leaderboard

Where does Empire Park actually stand in Edmonton? Here is how we rank:

• House growth rate: 97th out of 302 Edmonton neighbourhoods - that puts us in the above-average tier
• House days-on-market: 52nd out of 103 - middle of the pack, meaning we are not the fastest but not the slowest either
• Condo days-on-market: 20th out of 108 - this is a strong result, condos here sell quickly compared to most of the city
• Condo growth rate: 124th out of 296 - still above average
• Neighbourhood growth year-over-year (houses): 0.08%
• Neighbourhood growth year-over-year (condos): 0.15%

For context, our closest neighbours are doing this: Pleasantview houses are averaging a HonestDoor Price of $622,544 with 0.10% growth, so they are slightly ahead of us on both price and pace. Rideau Park is sitting at $522,830 with 0.06% growth - cheaper and slower. We are in a solid middle position, holding our own.

The So What: Should You Sell in Empire Park This Summer?

Straight talk: the data is mixed, but it is not bad. If you own a house, this month was soft. Prices dipped, days on market stretched to 55, and buyers had the upper hand. But the predicted value is still climbing, rental demand is strong at $2,788 per month with a 5.54% yield, and the HonestDoor Price of $617,030 is well above what most owners probably think their home is worth based on their assessment.

If you are thinking about selling a house this summer, do not panic about the monthly dip. Price it right from day one. With buyers currently paying 96.66% of list, an overpriced listing will just sit. A sharp, well-priced home can still move.

If you own a condo and are thinking about selling, the speed story is actually encouraging. Condos here rank 20th in the city for how fast they sell. The challenge is that only one sold this month, so the sample is thin. If you list, price competitively - buyers are paying 97.77% of list, which is close to full price, and they are not hanging around for 27 days because they are unsure. They are moving fast.

Either way, check your HonestDoor Price before you do anything. The gap between what the city assessed your home at and what it is actually worth in today's market could change every decision you make this 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.