Garneau, Edmonton - October 2026 Real Estate Report
Garneau Real Estate Check-In: Solid Prices, But the Market Is Taking a Breather
The Vibe Right Now
If you own a home in Garneau and you haven't looked at your property value lately, now is the time. The city's assessment number is one thing - but the real-world picture is a little different, and it matters for your wallet.
Here's the short version: Garneau is one of Edmonton's pricier neighbourhoods, houses are holding strong value, and condos are softening. Let's break it down by property type.
Houses in Garneau - Strong Prices, Slower Sales
If you've been watching the "For Sale" signs on our streets, here's what's actually happening with houses right now.
- Average sale price this month: $813,286 - up 40.7% from last month
- Average list price: $869,950
- Price per square foot: $637
- Homes are selling at 95.51% of list price - buyers are negotiating, and getting results
- 7 houses sold this month
- Average days on market: 68 days
- Predicted market value: $676,083
- Estimated monthly rent: $3,135 with a rental yield of 5.33%
That 40.7% jump in average sale price sounds dramatic, but with only 7 sales this month, one or two higher-end homes can move that number fast. What's more telling is that the predicted value of $676,083 is sitting below the 3-month moving average of $689,301. Values have dipped 3.08% recently. The market isn't crashing - it's just taking a breather.
On the neighbourhood leaderboard, Garneau houses rank 46 out of 285 Edmonton neighbourhoods for price - that puts us firmly in the top tier. Growth rank is 221 out of 285, which is below average. Days-on-market rank sits at 63 out of 116, meaning our homes are on the slower side to sell compared to the city. Buyers have options right now, and they know it.
Condos in Garneau - A Cooling Market Worth Watching
The condo side of our neighbourhood tells a different story. Prices are sliding, and sellers need to be realistic heading into summer.
- Average sale price this month: $223,571 - down 14.3% from last month
- Average list price: $279,575
- Price per square foot: $249
- Condos are selling at 96.11% of list price - buyers are still negotiating below ask
- 14 condos sold this month
- Average days on market: 87 days
- Predicted market value: $311,040
- Estimated monthly rent: $1,629 with a rental yield of 4.15%
The predicted condo value of $311,040 is already pulling back from the 3-month moving average of $318,252, and values have shifted -2.69% recently. That said, 14 transactions in a single month tells us there is still real buyer activity here - more than the house segment. Condos are moving, just at lower prices.
On the leaderboard, Garneau condos rank 243 out of 297 for growth - that puts us near the bottom of Edmonton's condo market for momentum right now. Price rank is 96 out of 218, which is above average. We're an expensive neighbourhood to buy into, but appreciation is slow. For investors, the 4.15% rental yield is moderate - not a home run, but not a loss either.
The Secret Sauce - Why Your HonestDoor Price Matters More Than Your Assessment Right Now
Here's something most Garneau homeowners don't realize. The city's assessed value is calculated once a year using data that can be months - or longer - out of date by the time it lands in your mailbox. It's a snapshot of the past, not a picture of today.
The HonestDoor Price updates in real time using actual market activity. And right now, the gap between the two numbers is telling a story worth paying attention to.
- Houses: Average city assessment is $674,787. The HonestDoor Price is $682,674 - that's 1.17% higher than the Edmonton average assessment, and it's up 0.97% from the previous period.
- Condos: Average city assessment is $258,105. The HonestDoor Price is $315,253 - a full 22.14% higher than the Edmonton average assessment, and up 1.35% from the previous period.
That condo gap is the big one. If you own a Garneau condo and you're relying on your city assessment to understand what your unit is worth, you could be undervaluing your own asset by tens of thousands of dollars. The HonestDoor Price is the real-world check that the assessment simply cannot give you.
The "So What?" - What This Means If You're Thinking About Selling This Summer
Thinking about listing this summer? Here's the honest take.
If you own a house in Garneau, you're sitting on a top-46-out-of-285 asset in Edmonton. That's a strong position. But with 68 average days on market and buyers consistently landing below list price, you need to price it right from day one. Overpricing a Garneau house right now means it sits, and a listing that sits loses leverage fast. Get your HonestDoor Price, compare it to what's actually sold nearby, and price with intention.
If you own a condo, the picture requires more patience. Values are dipping, days on market are pushing toward 90, and the growth rank of 243 out of 297 means momentum is not on your side right now. That doesn't mean don't sell - it means go in with clear eyes. Your HonestDoor Price of $315,253 is significantly above what the city thinks your unit is worth, and that's the number you should be anchoring your expectations to, not the assessment.
Nearby, Mc Kernan houses are averaging $713,010 and growing at 0.06% year over year - slightly ahead of Garneau's 0.04%. Queen Alexandra is cheaper at $577,216 but growing faster at 0.08%. If buyers are cross-shopping our neighbourhood against those two, Garneau needs to compete on value and condition, not just address.
Bottom line - Garneau is still one of Edmonton's stronger neighbourhoods by price. But this is not a set-it-and-forget-it market right now. Know your real number, price it sharp, and move with the market instead of against it.
garneau | 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.