Garneau, Edmonton - August 2026 Real Estate Report

Garneau Real Estate Right Now: Your Neighbour Isn't Telling You This

If you own property in Garneau and you're still looking at your city tax assessment to figure out what your place is worth, you're working with old information. Here's what's actually happening on the ground in one of Edmonton's most sought-after pockets.

The Vibe: Houses vs. Condos - Two Very Different Stories

We're seeing a real split in Garneau right now, and it matters depending on what you own.

Houses: The numbers here are turning heads. The average sale price hit $863,000 this period - that's up 31.2% from last month. Before you get too excited, context matters: only 6 houses sold, so one or two higher-end sales can move that needle fast. Still, listings are sitting at an average ask of $877,958, and sellers are getting 98.48% of list price. Homes are spending about 32 days on the market, which ranks us at 30 out of 108 Edmonton neighbourhoods for speed - that's genuinely fast. Price per square foot is running around $698. On the leaderboard, Garneau houses rank 40 out of 285 Edmonton neighbourhoods for price - we're firmly in the expensive tier.

Condos: This side of the market is taking a breather. The average sale price came in at $248,577, down 5.5% from last month. Condos are sitting on the market for an average of 60 days, and buyers are paying about 95.20% of list price - meaning there's room to negotiate. Listings are averaging $260,371 right now. The condo market here ranks 75 out of 218 Edmonton neighbourhoods for price, so we're still above average, but the momentum has softened. On the growth leaderboard, Garneau condos rank 112 out of 302 - above average, but not leading the pack.

• House average sale price: $863,000 (up 31.2%)
• House price per sq ft: $698
• House days on market: 32
• House sale-to-list ratio: 98.48%
• Condo average sale price: $248,577 (down 5.5%)
• Condo price per sq ft: $275
• Condo days on market: 60
• Condo sale-to-list ratio: 95.20%
• Total 2026 transactions in Garneau: 94 (62 condos, 32 houses)

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

Here's the thing about your city assessment - it's a snapshot from months ago, calculated using a formula that doesn't know your renovated kitchen or the fact that your street has been getting a lot of attention lately. It's a starting point, not a finish line.

The HonestDoor Price updates in real time using actual market activity. And right now, the gap between the two is significant.

For houses in Garneau, the average city assessed value sits at $674,787. The average HonestDoor Price is $697,601 - that's 3.38% higher than the assessed average across Edmonton. The predicted market value for houses is currently $324,070 for condos and $694,220 for houses, both trending up against their 3-month moving averages. That upward trend is the real signal.

For condos, the gap is even wider. The average assessed value is $258,105, but the average HonestDoor Price is $319,645 - a full 23.84% above the city's number. If you're a condo owner and you're using your assessment to decide whether to sell, refinance, or even just understand your net worth, you're potentially underselling yourself by a significant margin.

The HonestDoor Price for condos has dipped 1.37% recently, while the house HonestDoor Price is up 0.49%. That's the kind of real-world check you can't get from a government document that gets updated once a year.

• House HonestDoor Price: $697,601 (up 0.49%)
• House assessed value: $674,787
• Condo HonestDoor Price: $319,645 (down 1.37%)
• Condo assessed value: $258,105
• Condo HonestDoor Price is 23.84% above Edmonton's assessed average

The So What: Thinking About Selling This Summer?

If you own a house in Garneau and you've been on the fence, the data is nudging you toward action. Prices are up, days on market are low, and buyers are paying close to full ask. The rental yield on houses sits at 5.30%, which means investors are circling too - that's competition for your buyer pool, and competition is good for sellers.

Compare us to the neighbours: McKernan houses are averaging a HonestDoor Price of $743,259 and growing at 0.06% year over year. Queen Alexandra is cheaper at $583,368 but growing faster at 0.08%. Garneau's 0.04% growth is steadier than flashy, but our price point and location keep demand consistent.

If you own a condo, summer 2025 is a more nuanced call. Prices have softened, days on market have stretched to 60, and buyers have a bit more leverage right now. That doesn't mean don't sell - it means price it right from day one. With 62 condo transactions already recorded in 2026, there's clearly still a buyer pool here. Garneau condos rank 5th in all of Edmonton for total transaction volume - people are buying here, just more selectively.

The bottom line: pull your HonestDoor Price before you do anything else. Whether you're selling, refinancing, or just keeping score, it's the number that reflects what Garneau is actually doing right now - not what it was doing last year.

• House rental yield: 5.30% - strong for investors and owner-occupants alike
• Condo transaction rank in Edmonton: 5th - high activity, competitive market
• House days-on-market rank: 30 out of 108 - faster than most of the city
• Garneau house growth rank: 136 out of 292 - above average, steady
• Garneau condo growth rank: 112 out of 302 - above average, holding its own
• 585 houses assessed this year, 1,547 condos - a deep, established market

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.