Gariepy, Edmonton - September 2026 Real Estate Report

Gariepy, Edmonton: Your Neighbour's Assessment Is Probably Wrong - Here's the Real Number

If you own a home in Gariepy and you've been glancing at your city assessment letter, there's a decent chance you're sitting on more equity than the city thinks. Here's what's actually going on in our corner of Edmonton right now.

The Vibe: Houses vs. Condos in Gariepy

Houses

Let's be straight with each other - the house market in Gariepy is taking a breather. Only 2 houses sold this month, with an average sale price of $503,808. That's down 35.4% from last month, which sounds alarming, but with just 2 sales, one higher-priced deal can swing that number hard. Active listings are sitting at an average of $650,000, and homes are selling at 97.23% of list price - meaning buyers are getting a small discount, but sellers aren't getting crushed.

• Average sale price this month: $503,808
• Average list price this month: $650,000
• Price per square foot: $333
• Average days on market: 24
• Sale-to-list ratio: 97.23%
• Properties sold this month: 2

The predicted market value for a Gariepy house sits at $595,659 - up from the 3-month moving average of $585,968. That upward trend in predicted values is the number we should all be watching. On the neighbourhood leaderboard, Gariepy houses rank 48 out of 291 Edmonton neighbourhoods for growth. That puts us in the top 17% citywide. That's not a small thing.

Rental investors, take note. Estimated rent comes in at $2,869 per month with a rental yield of 5.44%. That's a strong return in today's market.

Condos

The condo picture is a bit softer. Two condos sold this month at an average of $207,500, with listings averaging $199,000. Buyers paid 94.22% of list price - a bigger discount than on the house side - and units are sitting on the market for an average of 73 days. That's longer than nearby Callingwood South at 66 days, so yes, the condo market here is slower right now.

• Average sale price this month: $207,500
• Average list price this month: $199,000
• Price per square foot: $189
• Average days on market: 73
• Sale-to-list ratio: 94.22%
• Properties sold this month: 2

That said, the predicted market value for Gariepy condos is $294,134, creeping up from the 3-month moving average of $293,204. And on the neighbourhood leaderboard, Gariepy condos rank 38 out of 302 Edmonton neighbourhoods for growth - top 13% in the city. For price, we rank 10 out of 216 neighbourhoods. We're among the most expensive condo markets in Edmonton, full stop.

Rental yield on condos is 4.16% with an estimated rent of $1,536 per month - moderate, but still a real return.

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

Here's the thing about city assessments - they're a snapshot from the past. The city looks at sale data from the previous year and locks in a number. By the time that letter hits your mailbox, the market has already moved.

For Gariepy houses, the average city assessment is $536,256. The average HonestDoor Price is $589,650. That's a gap of nearly $53,000 - or about 9.96% more than what the city thinks your home is worth. The HonestDoor Price updates in real time using current sales data, so it reflects what a buyer would actually pay today, not what someone paid 14 months ago.

For condos, the story flips slightly. The average assessed value is $292,233, while the average HonestDoor Price is $288,666 - about 1.22% below the city's number. If you're a condo owner, that's worth knowing before you price a listing or make any financial decisions based on your assessment.

Bottom line: the HonestDoor Price is your real-world check. Use it.

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

If you own a house in Gariepy and you're thinking about listing this summer, the window is real but it requires smart pricing. Homes are moving in about 24 days when priced right, and buyers are paying close to full list price at 97.23%. The predicted value of $595,659 is trending up. You're not in a panic-sell market - but you're also not in a "list high and wait" market. Price it sharp and you'll move it fast.

If you own a condo, be patient and be realistic. At 73 days on market and a 94.22% sale-to-list ratio, buyers have options and they know it. The good news is that Gariepy condos are still among the most expensive in Edmonton - rank 10 out of 216 - so the underlying value is there. It just takes longer to find the right buyer right now.

For anyone on the fence, here's the simplest way to think about it: check your HonestDoor Price first. If it's meaningfully higher than your assessed value - and for house owners in Gariepy, it likely is - you may have more to work with than you think. With 35 total property transactions recorded in 2026 and 628 properties assessed in the neighbourhood, there's enough activity here to make a move. Just go in with current numbers, not last year's letter.

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.