Kernohan, Edmonton - September 2026 Real Estate Report

Kernohan, Edmonton: Your Neighbour Just Got a Better Price Than the City Thinks

The Vibe Right Now

If you've been watching the "For Sale" signs on your street, here's what's actually happening in Kernohan. The story is different depending on whether you own a house or a condo - and the gap matters for your wallet.

Houses: Prices Are Moving, But Buyers Are Patient

The average house sale price hit $387,500 this period, up 7.9% from last month. That's a real jump. But before you pop the champagne, here's the full picture - only 2 houses sold, listings are sitting at an average of $419,900, and homes are spending about 69 days on the market before finding a buyer. Sellers are getting 97.64% of their asking price on average, which means buyers are negotiating, and they're winning small concessions.

• Average sale price: $387,500 (up 7.9% from last month)
• Average list price: $419,900
• Price per square foot: $333
• Average days on market: 69
• Sale-to-list ratio: 97.64%
• Predicted market value: $392,763
• Estimated monthly rent: $2,012
• Rental yield: 5.85%

The predicted market value of $392,763 is creeping above the 3-month moving average of $390,437 - a sign that house values are still nudging upward, not sliding. For landlords, a 5.85% rental yield is genuinely solid. That's not a number you ignore.

On the neighbourhood leaderboard, Kernohan houses rank 123 out of 291 Edmonton neighbourhoods for growth - that puts us in the above-average tier. We're not leading the pack, but we're ahead of more than half the city. Price rank sits at 238 out of 285, which means Kernohan is one of Edmonton's more affordable options - a real draw for buyers being priced out elsewhere.

Condos: Steady, But Watch the Trend Line

The condo side of Kernohan is a different conversation. One condo sold this period at $292,500, and the predicted market value sits at $240,629 - which is actually dipping below the 3-month moving average of $244,156. Values have shifted -1.90% recently. This market is taking a breather.

• Average sale price: $292,500
• Average list price: $299,900
• Price per square foot: $202
• Average days on market: 102
• Sale-to-list ratio: 97.53%
• Predicted market value: $240,629
• Estimated monthly rent: $1,306
• Rental yield: 4.28%

102 days on market is a long time. Buyers know it, and they're using that patience as leverage. The growth rank for condos is 186 out of 302 - below average for Edmonton. That said, our condo prices still rank 80 out of 216 neighbourhoods, meaning we're priced above average compared to much of the city. The silver lining? Kernohan condos beat nearby River Valley Hermitage, Belmont, and Bannerman on HonestDoor Price - we're the most expensive condo market in our immediate corner of Edmonton.

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

Here's the thing about your city assessment - it's a snapshot from months ago, built on data that's already old by the time it lands in your mailbox. The market doesn't wait for paperwork.

For Kernohan house owners, the average HonestDoor Price is $384,487. The average city assessment? $370,646. That's a $13,841 gap - and the HonestDoor Price is the one that reflects what buyers are actually paying right now, not what a formula calculated last year. It's also 3.73% higher than Edmonton's average assessed value, which tells us Kernohan is punching above its weight in the city's overall market.

For condo owners, the HonestDoor Price of $241,764 sits just above the assessed value of $240,566 - a smaller gap, but still a more current read on what your unit is actually worth today. Condo values here have ticked up 0.47% from the previous period, while the assessment hasn't moved with it.

The HonestDoor Price is updated in real time. Your tax assessment is not. If you're making any financial decision about your property - refinancing, selling, even just knowing your net worth - use the number that reflects today, not last year.

So What Does This Mean If You're Thinking About Selling This Summer?

For house sellers, the timing has some real upside. Prices are rising, your HonestDoor Price is ahead of your assessment, and Kernohan's affordability ranking means buyers priced out of pricier Edmonton neighbourhoods are looking our way. The catch - buyers are taking their time (69 days on average) and they will negotiate. Price sharp from day one. Listings sitting at $419,900 while sales close at $387,500 tells you exactly what overpricing costs you: time and concessions.

For condo sellers, be honest with yourself. Values are softening slightly, days on market are long, and buyers have options. That doesn't mean don't sell - it means price it right from the start and don't wait for the market to come back to you. The rental yield of 4.28% is moderate, so investors will run the numbers carefully. Give them a reason to say yes quickly.

Either way, check your HonestDoor Price before you have a single conversation with an agent. It's the real-world number - and in this market, knowing the difference between $370,000 and $384,000 is the difference between leaving money on the table and walking away with what your home is actually worth.

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.