Ermineskin, Edmonton - September 2026 Real Estate Report

Ermineskin Real Estate Update: Your Assessment Is Lying to You

If you own a home in Ermineskin and you're still looking at your city assessment to figure out what your place is worth, stop. That number is not your number. Here's what's actually going on in our neighbourhood right now.

The Vibe: Houses vs. Condos

Houses

We had 4 house sales this period, with an average sale price of $496,250 - that's up 16.6% from last month. Listings are sitting around $499,900, and homes are selling at about 97.89% of list price. Buyers are getting a slight discount, but prices are still climbing. The catch? Houses are sitting on the market for an average of 136 days. That's a long wait, and it puts us at rank 100 out of 112 Edmonton neighbourhoods for days on market. Slow-moving inventory is the story here.

• Average sale price: $496,250 (up 16.6% from last month)
• Average list price: $499,900
• Price per square foot: $312
• Sale-to-list ratio: 97.89%
• Average days on market: 136
• Properties sold this period: 4
• HonestDoor predicted value: $747,309
• 3-month moving average: $770,864 (values are dipping slightly)
• Estimated monthly rent: $2,736
• Rental yield: 5.64%
• Growth rank: 264 out of 291 Edmonton neighbourhoods

That growth rank is worth paying attention to. On the neighbourhood leaderboard, Ermineskin houses are sitting near the bottom tier for price growth right now - 264 out of 291. The market is taking a breather. Compared to nearby Steinhauer, where houses sold for an average of $430,000, we're still priced higher, but the gap is something to watch if you're planning to sell.

Condos

The condo side of Ermineskin tells a different story. We saw 2 condo sales this period - down 33.3% from last month - with an average sale price of $238,875, up 14.8%. Condos are moving a bit faster than houses, averaging 99 days on market. Price per square foot is $277, and buyers are paying about 97.37% of list price.

• Average sale price: $238,875 (up 14.8% from last month)
• Average list price: $245,500
• Price per square foot: $277
• Sale-to-list ratio: 97.37%
• Average days on market: 99
• Properties sold this period: 2
• HonestDoor predicted value: $321,410
• 3-month moving average: $322,104 (essentially flat)
• Estimated monthly rent: $1,494
• Rental yield: 4.21%
• Growth rank: 161 out of 302 Edmonton neighbourhoods

On the neighbourhood leaderboard, Ermineskin condos rank 161 out of 302 - below average, but nowhere near the bottom. Price rank is 95 out of 216, which actually puts us above average in price compared to other Edmonton condo markets. Compared to nearby Steinhauer condos (HonestDoor Price $239,021), we're priced higher at $309,850. Keheewin condos are the outlier in this group at $493,339 - a very different product.

The Secret Sauce: Your HonestDoor Price vs. Your Assessment

Here's the number that should get your attention. The city's average assessed value for a house in Ermineskin is $410,702. The average HonestDoor Price for that same house is $731,264. That's a gap of 78.05%. For condos, the assessed value averages $232,259 while the HonestDoor Price comes in at $309,850 - 33.41% higher.

Your city assessment is a snapshot frozen in time. It's used to calculate your property tax bill, not to tell you what a buyer would actually pay today. The HonestDoor Price pulls in real-time sales data, current market activity, and live comparable transactions to give you a number that reflects the real world - not last year's paperwork.

Yes, the HonestDoor Price for houses has dipped 2.15% from the previous period, and condos are down 3.60%. The market is honest about that. But even with that dip, the gap between what the city thinks your home is worth and what the market says it's worth is massive. If you haven't checked your HonestDoor Price recently, now is the time.

The So What: Thinking About Selling This Summer?

If you're weighing a summer sale in Ermineskin, here's the straight talk.

On the house side, prices are up month-over-month, which looks good on paper. But 136 days on market means you need to be patient - or priced sharply from day one. With a growth rank of 264 out of 291, this is not a neighbourhood where you can overprice and wait. Buyers have options. The properties that are selling are moving at just under list price, so realistic pricing matters more than ever.

On the condo side, the rental yield of 4.21% and a price rank above the Edmonton average give sellers a decent story to tell. Investors looking at buy-and-hold will notice that $1,494 per month in estimated rent against a $238,875 sale price is a reasonable pitch. Volume is low right now - only 2 sales this period - so the market is thin. That can work for or against you depending on what else hits the market at the same time.

For both property types, the bottom line is this: the city's assessment is not your selling price. Check your HonestDoor Price, understand the gap, and price with the current market in mind - not what your neighbour sold for two years ago.

• 17 house transactions recorded in 2026 so far
• 31 condo transactions recorded in 2026 so far
• 413 houses assessed this year
• 1,004 condos assessed this year
• Neighbourhood growth: 0.09% year over year
• Average rental estimate (neighbourhood): $2,701 for houses, $1,455 for condos

Ermineskin is a stable, established part of south Edmonton. It's not a hot-growth story right now, but it's also not falling apart. Know your real number, price it right, and you'll find your buyer.

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.