Lee Ridge, Edmonton - July 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 the average house is worth $358,780. The real-world number? Closer to $666,640. That gap is not a rounding error. That is $307,860 the tax office is not counting.

The Vibe: Houses vs. Condos in Lee Ridge

Lee Ridge is a neighbourhood of two stories right now, and they are pretty different depending on what you own.

Houses - Taking a Breather

Let us be straight with you. The house market in Lee Ridge is cooling off a bit. Here is what the numbers are actually saying:

• Average sale price this month: $178,000
• Average list price: $179,900
• Homes are selling at 98.94% of list price - buyers are getting a slight discount
• Average days on market: 25 days
• Price per square foot: $283
• 3 houses sold this month
• Predicted market value: $677,586
• Rental yield: 5.71% - that is a strong return for landlords
• Estimated monthly rent: $2,526
• Recent value change: -3.42%
• Growth rank: 275 out of 302 neighbourhoods in Edmonton

That growth rank is the honest part nobody wants to say out loud. On the Edmonton neighbourhood leaderboard, Lee Ridge houses are sitting near the bottom for price growth right now. Compared to nearby Kameyosek, our homes are also sitting on the market almost twice as long - 25 days versus their 13. The market is not in freefall, but it is not sprinting either. The saving grace? That rental yield of 5.71% is genuinely strong. If you are holding a house here as an investment, the rent math still works in your favour.

Condos - A Different Story Entirely

Condo owners in Lee Ridge, pay attention. Your segment is actually doing better than most people realize.

• Average sale price: $279,000
• Average list price: $280,000
• Selling at 99.64% of list - almost full asking price
• Average days on market: 13 days
• Price per square foot: $209
• 1 condo sold this month
• Predicted market value: $206,455 - trending up from the 3-month average of $202,406
• Rental yield: 4.32%
• Estimated monthly rent: $1,129
• Recent value change: +1.04%
• Growth rank: 67 out of 296 neighbourhoods in Edmonton

On the Edmonton neighbourhood leaderboard, Lee Ridge condos rank 67 out of 296 for growth. That puts us in the top quarter of the city. Days on market rank is 6 out of 108 - meaning condos here sell faster than almost everyone else in Edmonton. Prices are also holding above nearby Richfield ($182,009 predicted) and tracking close to Michaels Park ($210,843). The momentum is pointing up, not down.

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

Here is why this matters for your wallet right now. The city assesses 617 properties in Lee Ridge and spits out an average of $358,780 for houses. That number is used to calculate your property taxes. It is also the number most people mentally anchor to when they think about what their home is worth.

It is wrong. Not a little wrong - 85.81% wrong.

The HonestDoor Price for houses in Lee Ridge averages $666,640. That is a live, data-driven estimate that pulls from actual market activity, not a once-a-year government snapshot. For condos, the gap flips - the city's average assessment is $212,424, while the HonestDoor Price sits at $199,561. That means condo owners might actually be over-assessed relative to real market value, which is worth knowing if you ever want to appeal your taxes.

The city's assessment is a rearview mirror. The HonestDoor Price is the windshield. Use the right one when you are making real decisions.

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 honest take. The market is softer than it was. Values have dipped 3.42% recently, and the predicted value of $677,586 is sliding down from the 3-month average of $691,873. Waiting for a rebound is a gamble right now, especially with Lee Ridge ranking 275 out of 302 for growth. If you need to sell, price it sharp - buyers are getting small discounts and they know it. At 25 days on market, you have a window, but it is not wide open.

If you own a condo, your timing is actually decent. Values are ticking up, condos are moving in 13 days, and you are selling at nearly full list price. The summer market could work in your favour if you list clean and price it right against Kameyosek ($245,885) and Michaels Park ($210,843), which are both priced slightly above us.

Either way, the first thing to do is check your HonestDoor Price at HonestDoor.com. It is free, it is current, and it will give you a far more honest starting point than anything the city mailed you this spring.

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.