Greely, Ottawa - August 2026 Real Estate Report

Greely Real Estate Right Now: Big Prices, Slow Sales, and a Condo Market Taking a Breather

If you own a home in Greely and you haven't checked your property value lately, you might be working off a number that's already out of date. Here's what's actually happening on our streets right now.

The Vibe: Houses vs. Condos in Greely

Let's start with houses, because the numbers are worth talking about. The average sale price for a house in Greely is sitting at $3,760,000, with listings averaging $3,690,000 this month. Homes are selling at 101.90% of list price - meaning buyers are paying above asking. That's a sellers' market signal, plain and simple. The catch? Only one property sold, and it sat on the market for 89 days before it did. So yes, when a Greely house sells, it sells well. But it takes patience to get there.

The HonestDoor Price for houses tells a slightly different story for the broader neighbourhood. The average comes in at $1,126,476, down a modest 1.09% from last period. Think of this as the real-world pulse of what homes across Greely are worth day-to-day, not just the outlier sales. The predicted market value is $1,138,912, which is actually creeping up from the 3-month moving average of $1,131,135. So the trend line is pointing in the right direction, even if the pace is slow.

On the neighbourhood leaderboard, Greely houses rank 15 out of 100 for growth - that puts us in solid company across Ottawa. Price rank is 1 out of 25, meaning we're among the most expensive neighbourhoods in the city. The trade-off is days-on-market, where we rank 17 out of 17. Greely homes are premium properties that take time to find the right buyer. That's not a red flag - it's just the reality of a niche, high-value market.

For rental investors, the numbers are decent. Estimated rent runs $4,539 per month with a rental yield of 4.56%. That's a moderate but respectable return for a property in this price range.

Now for condos. We'll be straight with you - the condo side of Greely is taking a breather. The average HonestDoor Price for condos has dropped 5.25% to $329,884. That's a meaningful dip. What makes it more interesting is that nearby neighbourhoods like Osgoode-Vernon ($443,884) and Riverside South-Leitrim ($432,747) are priced significantly higher for condos. Greely condos are currently the most affordable option in the immediate area, which could be an opportunity depending on which side of the transaction you're on.

The predicted condo value is $348,180, up from the 3-month moving average of $336,277 - so there's a recovery signal there. But the recent change of -1.40% and a growth rank of 76 out of 104 across Ottawa means condos here are below average performers right now. Rental yield sits at 4.12% with estimated rent of $1,847 per month. Serviceable, but not a standout.

• House HonestDoor Price: $1,126,476 (down 1.09%)
• House predicted market value: $1,138,912
• House average sale price: $3,760,000
• Houses selling at: 101.90% of list price
• Average days on market: 89 days
• House rental estimate: $4,499/month - rental yield 4.56%
• House growth rank: 15 out of 100 in Ottawa
• Condo HonestDoor Price: $329,884 (down 5.25%)
• Condo predicted market value: $348,180
• Condo rental estimate: $1,757/month - rental yield 4.12%
• Condo growth rank: 76 out of 104 in Ottawa

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

Here's something most Greely homeowners don't think about until it's too late. Your city tax assessment was likely calculated months ago - sometimes over a year ago - using data that doesn't reflect what's happening in the market today. It's a snapshot of the past, not a picture of right now.

The HonestDoor Price is updated in real time. It pulls in current sales data, listing trends, and neighbourhood comparisons to give you a live estimate of what your property is actually worth today. With house values in Greely shifting - up at the predicted level, down slightly at the HonestDoor average - the gap between your assessment and your real value could be significant. That gap matters when you're deciding whether to sell, refinance, or even just figure out if your insurance coverage still makes sense.

Waiting for the city to tell you what your home is worth is like checking last year's weather forecast before you head outside. Check your HonestDoor Price instead.

The So What - Should You Sell in Greely This Summer?

If you own a house in Greely and you've been thinking about selling, here's the honest read. You're in a high-price, low-volume market. The one house that sold recently went for above asking, which is a good sign. But 89 days on market means you need to go in with realistic expectations about timing. Price it right from day one and you have a real shot at a strong outcome. Overprice it and you'll be sitting through the summer watching the listing go stale.

The fact that Greely ranks 1 out of 25 for price in Ottawa is a genuine selling point. Buyers looking at this end of the market know what they're getting - space, premium properties, and a neighbourhood that holds its value. That's your pitch.

If you own a condo, this summer is probably not your peak moment to sell. A 5.25% drop in the HonestDoor Price and a growth rank of 76 out of 104 tells you the market isn't working in your favour right now. If you can hold, it may be worth watching the predicted value recovery play out over the next few months before making a move.

Either way, the first step is knowing your real number. Not the assessment. Not a guess. Your actual HonestDoor Price - updated for today's market, not last year's.

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.