Lee Ridge, Edmonton - August 2026 Real Estate Report

Lee Ridge Real Talk: Your Home Is Worth Way More Than the City Thinks

If you own a home in Lee Ridge and you have not checked your HonestDoor Price lately, you are probably sitting on a number that would surprise you. The city's assessment says your house is worth around $358,780. The real world says something very different.

The Vibe: What Is Actually Happening in Lee Ridge Right Now

Let's break it down by property type, because houses and condos are telling two different stories in our neighbourhood right now.

Houses in Lee Ridge

If you have been watching the "For Sale" signs on our streets, here is what is actually happening. Houses are moving, but the market is taking a breather. Three sales closed recently, with homes sitting on the market for about 25 days on average. That is not slow - it is actually on par with Richfield next door - but it is noticeably longer than Kameyosek, where homes are moving in 13 days.

• Average sale price: $178,000
• Average list price right now: $179,900
• Price per square foot: $283
• Sellers are getting 98.94% of their asking price - buyers have a little room to negotiate, but not much
• Days on market: 25 days - ranks 24 out of 108 neighbourhoods, meaning we sell moderately fast
• HonestDoor predicted value for houses: $666,640
• Estimated monthly rent: $2,498 with a rental yield of 5.72% - that is a strong return
• Recent value change: -1.62%
• Growth rank: 245 out of 292 - we are in the bottom tier right now
• Price rank: 267 out of 285 - Lee Ridge houses are among the most affordable in Edmonton

The honest read here? Lee Ridge houses are affordable entry points into Edmonton homeownership, and that rental yield of 5.72% is genuinely strong for investors. The growth rank is not something to brag about on the neighbourhood leaderboard - sitting 245 out of 292 means most other Edmonton neighbourhoods are appreciating faster right now. But affordability and rental income are real advantages we have over pricier areas.

Condos in Lee Ridge

Our condo market is a different animal. Only one condo sold recently, but it moved in just 13 days - that ranks 7 out of 111 Edmonton neighbourhoods for speed. When a condo hits the market here, it does not sit around.

• Average sale price: $279,000
• Average list price right now: $280,000
• Price per square foot: $209
• Sellers are getting 99.64% of asking - basically full price
• Days on market: 13 days - ranks 7 out of 111 neighbourhoods, very fast by Edmonton standards
• HonestDoor predicted value: $199,561
• Estimated monthly rent: $1,092 with a rental yield of 4.32%
• Recent value change: -3.34%
• Growth rank: 273 out of 302 - bottom performers on the leaderboard
• Price rank: 69 out of 218 - above average in price for Edmonton condos

The condo picture is a bit mixed. Values have dipped 3.34% recently and the growth rank of 273 out of 302 puts us near the bottom of the Edmonton condo leaderboard. But here is the flip side - when a condo lists, it sells fast and close to full price. That tells us demand is real, even if appreciation is sluggish right now.

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

Here is the thing about your city assessment. It is calculated once a year using data that is already months old by the time it lands in your mailbox. For Lee Ridge house owners, the city says your home is worth $358,780 on average. The HonestDoor Price - which updates in real time using actual market activity - puts that number at $660,036. That is a gap of nearly 84%. That is not a rounding error. That is a completely different financial picture.

For condos, the story flips slightly. The city's average assessment is $212,424, but the HonestDoor Price comes in at $199,500 - actually 6% below the assessed value. That means some condo owners in Lee Ridge could be paying property taxes based on an inflated number. Worth knowing.

The HonestDoor Price is your real-world check. It is the number a buyer would actually put on paper today, not what a government formula calculated last July. If you are making any financial decision - refinancing, selling, even just understanding your net worth - start with the HonestDoor Price, not the assessment.

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

If you own a house in Lee Ridge and you are thinking about listing this summer, here is the straight talk. You are in a buyers' market right now - not a dramatic one, but a real one. Homes are selling at just under asking price and the growth rank of 245 out of 292 tells us we are not leading the pack in appreciation. The 3-month moving average for house values has slipped from $681,946 to $666,640. The market is not crashing, but it is not running hot either.

That said, your affordability is a genuine selling point. At a price rank of 267 out of 285, Lee Ridge houses are among the most affordable in Edmonton. First-time buyers and investors chasing that 5.72% rental yield will notice. Price it right, stage it well, and 25 days to a sale is very achievable.

For condo owners, the speed of the market is your friend. Condos here are selling in 13 days - faster than almost anywhere else in Edmonton. If you list clean and priced fairly, you will not be waiting long. Just go in with eyes open on the value trend - down 3.34% recently - and set expectations accordingly.

Bottom line for Lee Ridge: we are not the flashiest neighbourhood on the Edmonton leaderboard right now, but we are affordable, we have real rental income potential, and the gap between what the city thinks your home is worth and what a buyer would actually pay is enormous. Check your HonestDoor Price before you make any move this summer.

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.