Lakewood, Spruce Grove - July 2026 Real Estate Report

Lakewood, Spruce Grove: Your Neighbour Just Got a Raise. Did You?

If you own a home in Lakewood and you haven't checked your property value lately, you're probably leaving money on the table. Here's the straight story on what's happening in our corner of Spruce Grove right now.

The Vibe: Houses Are Moving, Condos Are Catching Their Breath

We've got two very different stories playing out in Lakewood depending on what you own.

On the house side, things are genuinely strong. The average sale price for houses hit $535,167 - that's up 14.3% from last month. Listings are sitting at $541,633 on average, and homes are selling at 99.11% of list price. Buyers are paying close to full ask. That's not a soft market. Properties are spending about 41 days on the market, which sounds like a wait, but compare that to Hilldowns where homes sit for 61 days. Lakewood houses are moving faster than the neighbours.

• Average house sale price: $535,167 (up 14.3% from last month)
• Average list price: $541,633
• Price per square foot: $337
• Sale-to-list ratio: 99.11%
• Average days on market: 41 days
• Properties sold this period: 3 (down 25% from last month)
• Rental yield on houses: 5.71%
• Estimated monthly rent: $2,356

On the condo side, we need to be honest. The predicted market value for condos is $235,459, and that number is actually drifting down from the 3-month moving average of $244,141. Values have slipped 1.49% recently, and the growth rank sits at 13 out of 17 comparable neighbourhoods in Spruce Grove. The condo market here is taking a breather. That said, rental yield is still a respectable 4.29%, and at $235,459, Lakewood condos still beat nearby Brookwood ($203,613) on value.

• Average condo HonestDoor Price: $236,723 (up 0.54% from previous period)
• Predicted condo value: $235,459
• 3-month moving average: $244,141
• Recent value change: -1.49%
• Estimated monthly rent: $1,289
• Rental yield: 4.29%
• Condo growth rank in Spruce Grove: 13 out of 17

The Neighbourhood Leaderboard

Here's where Lakewood stacks up against the streets around us. For houses, we rank 6 out of 19 neighbourhoods in Spruce Grove for growth. That puts us solidly in the above-average tier. Price rank is 7 out of 18 - above average there too. We're not the flashiest number on the board, but we're consistently near the top.

For context, every nearby neighbourhood - Hilldowns, Brookwood, and Spruce Village - comes in cheaper on house prices than Lakewood. Hilldowns is at $443,192, Brookwood at $408,982, and Spruce Village at $415,787. Lakewood's average HonestDoor Price of $476,707 clears all three. That gap matters when you're thinking about what your home is actually worth today.

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

Here's the thing about your city assessment - it's a snapshot from months ago, sometimes longer. It doesn't know that Lakewood house prices just jumped 14.3% in a single month. It doesn't know what buyers paid last week on your street.

The HonestDoor Price is updated in real time. Right now, the average sits at $476,707 for houses - up 3.63% from the previous period. That's the number that reflects what a buyer would actually put on the table today, not what a government formula calculated last fall. If you're making any financial decision - refinancing, selling, even just figuring out if your insurance coverage makes sense - the HonestDoor Price is your real-world check against a number that's already out of date.

Think of it this way: your assessment is a yearbook photo. Your HonestDoor Price is what you actually look like right now.

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

If you own a house in Lakewood, the timing is genuinely interesting right now. Prices are up sharply, buyers are paying near full list, and we're outselling Hilldowns on speed. There were 28 total property transactions in Lakewood in 2026 so far, and the neighbourhood ranks 6th in Spruce Grove for total transaction volume. Buyers are active here.

The practical read: if you've been sitting on the fence about listing this summer, the data says the window is open. You're not fighting a slow market. You're not competing with a flood of inventory. Homes are moving in 41 days and selling at 99% of ask. That's a decent hand to play.

If you own a condo, the calculus is a bit different. Values are softening slightly and the growth rank isn't flattering right now. That doesn't mean it's a bad time to sell - rental demand is still real at $1,289 per month estimated - but go in with clear eyes on pricing. Overpricing a condo in a cooling segment is the fastest way to sit on the market longer than you want.

Bottom line: check your HonestDoor Price before you do anything else. It takes two minutes and it's the most current number you'll find anywhere. Your neighbour's house just appreciated. Make sure you know exactly where yours stands.

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.