Garneau, Edmonton - September 2026 Real Estate Report

Garneau Real Estate Check-In: Solid Ground, But Watch the Signals

The Vibe Right Now

If you live in Garneau and you've been half-watching the market, here's the honest version of what's going on. The neighbourhood is holding its value - but it's not sprinting. Growth is sitting at 0.04% year over year, and the latest HonestDoor Price data shows things have dipped a little from the previous period. Not a crash. More like the market catching its breath.

We saw 35 house transactions and 63 condo transactions recorded in 2026, across 585 assessed houses and 1,547 assessed condos. That's a decent amount of activity for a neighbourhood our size, and it tells us people are still moving here - and out of here - at a reasonable clip.

Houses: The Numbers, Straight Up

For those of us in houses, the average HonestDoor Price is $676,083. The predicted market value for houses sits at $697,601, which is actually creeping up from the 3-month moving average of $693,111. That's a quiet but real signal that house values have some upward momentum right now.

• Average HonestDoor Price: $676,083 (down 3.08% from last period)
• Average assessed value: $674,787
• Predicted market value: $697,601
• Average sale price this month: $577,875 (down 33% from last month - only 4 sales, so take that swing with a grain of salt)
• Average days on market: 30 days
• Sale-to-list ratio: 99.59% - buyers are paying almost exactly list price
• Price per square foot: $420
• Estimated monthly rent: $3,215 with a rental yield of 5.29%
• Airbnb estimate: $160 per night

That 33% drop in average sale price sounds alarming, but only 4 houses sold this month. One outlier property can move that number dramatically. The 30-day average time on market is actually a good sign - Garneau houses rank 29th out of 112 Edmonton neighbourhoods for days on market. That means we're in the faster-selling half of the city. On the neighbourhood leaderboard for growth, houses rank 118th out of 291 - above average, but not leading the pack.

Condos: A Different Story

The condo picture is a bit more mixed. The average HonestDoor Price for condos is $311,040 - and here's the number that should make every condo owner in Garneau pay attention - that's 20.51% higher than the average assessed value of $258,105. That gap is significant. If you're a condo owner relying on your city assessment to understand what your place is worth, you're likely underselling yourself by a wide margin.

• Average HonestDoor Price: $311,040 (down 2.69% from last period)
• Average assessed value: $258,105
• Predicted market value: $319,645
• Average sale price this month: $261,000 (up 5% from last month)
• Average days on market: 105 days
• Sale-to-list ratio: 94.01% - buyers are negotiating below list price
• Price per square foot: $242
• Estimated monthly rent: $1,662 with a rental yield of 4.13%
• Airbnb estimate: $81 per night

Condos are taking longer to sell - 105 days on average, which ranks 84th out of 112 Edmonton neighbourhoods for speed. That's on the slower side. Buyers have more leverage here, and the 94% sale-to-list ratio confirms it. The predicted value of $319,645 is slightly higher than nearby University of Alberta condos at $303,311, which means Garneau condos are holding a small premium in the area. On the growth leaderboard, condos rank 172nd out of 302 - below average for Edmonton right now.

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

Here's the thing about city assessments - they're a snapshot from the past. They don't update in real time, and they don't account for what's actually happening on your street right now. For Garneau condo owners, the gap between the average assessed value ($258,105) and the average HonestDoor Price ($311,040) is over $52,000. That's not a rounding error. That's a real difference in what your property is worth today versus what the city's paperwork says.

For house owners, the gap is smaller - the HonestDoor Price of $676,083 sits just 0.19% above the assessed value of $674,787. But the predicted market value of $697,601 pushes even further ahead. The HonestDoor Price pulls in current sales data, market trends, and real-time signals. Your assessment doesn't do that. Checking your HonestDoor Price right now gives you the real-world number - not last year's guess.

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

If you're a house owner considering listing this summer, the conditions are actually reasonable. Homes are selling in about 30 days and buyers are paying close to full list price - that 99.59% sale-to-list ratio means you're not going to be haggling hard. The predicted value trending upward from the 3-month average is a quiet green light. Price your house right and it moves.

If you own a condo and you're thinking about selling, be patient and be realistic. The 105-day average time on market means you need to plan ahead - don't list in June expecting a July close. Buyers are negotiating, landing at about 94% of list price. That said, your place is likely worth more than your assessment suggests, so get your HonestDoor Price before you set your number.

For context on where Garneau sits in the neighbourhood competition - nearby McKernan is growing slightly faster at 0.06% and Queen Alexandra at 0.08%, but Garneau houses rank 52nd out of 285 Edmonton neighbourhoods on price. We're in the more expensive tier of the city. That's a real asset when it comes time to sell.

Bottom line: Garneau is not a neighbourhood in trouble. It's a neighbourhood in a holding pattern. If you're selling a house, this summer is a workable window. If you're selling a condo, go in with eyes open and a current HonestDoor Price in hand.

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.