Lee Ridge, Edmonton - October 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've been glancing at your city assessment, here's the honest truth - that number is leaving serious money on the table. The city says the average house here is worth $358,780. The HonestDoor Price says $655,427. That's not a rounding error. That's an $296,647 gap that matters when you're making real decisions about your property.
The Vibe: Houses vs. Condos in Lee Ridge
Lee Ridge is a neighbourhood of two very different stories right now, and knowing which one you're in changes everything.
Houses - Steady, Affordable, and Quietly Undervalued
If you've been watching the "For Sale" signs on the house side of Lee Ridge, here's what's actually happening. The market is calm - not crashing, just breathing. Three houses sold recently, averaging $178,000 in sale price, and sellers are getting 98.94% of their asking price. Buyers are paying close to full price, which tells us demand hasn't disappeared.
- Average HonestDoor Price: $655,427 (up 0.21% from last period)
- Average assessed value: $358,780 - 82.68% below the HonestDoor Price
- Average sale price: $178,000
- List price: $179,900
- Price per square foot: $283
- Average days on market: 25
- Sale-to-list ratio: 98.94%
- Estimated rent: $2,493 per month
- Rental yield: 5.72%
- 24 transactions recorded in 2026
Houses here are sitting at 25 days on market. That's slower than Kameyosek next door at 13 days, so we're not the fastest horse in the race right now. But we're running at the same pace as Richfield, which is a much pricier neighbourhood. The predicted market value of $654,057 is also slightly down from the 3-month moving average of $660,244 - a small dip worth watching but not panicking over.
On the neighbourhood leaderboard, Lee Ridge houses rank 75 out of 285 Edmonton neighbourhoods for growth. That puts us solidly above average. For price, we rank 280 out of 285 - meaning we're among the most affordable houses in the city. That's a feature, not a flaw, if you're buying. If you're selling, it means there's room to move up.
Condos - The Quiet Overachiever
The condo side of Lee Ridge is doing something interesting. While the HonestDoor Price for condos has dipped 3.84% recently to $208,399, the predicted market value is actually climbing - up to $216,714 from a 3-month average of $205,258. That's an 8.63% recent change in predicted value, which ranks 12th out of 297 Edmonton neighbourhoods. Top 5%. That's not nothing.
- Average HonestDoor Price: $208,399 (down 3.84% from last period)
- Average assessed value: $212,424 - HonestDoor Price is 1.89% below assessment
- Average sale price: $279,000
- List price: $280,000
- Price per square foot: $209
- Average days on market: 13
- Sale-to-list ratio: 99.64%
- Estimated rent: $1,180 per month
- Rental yield: 4.29%
- 6 transactions recorded in 2026
Lee Ridge condos are selling in 13 days - ranking 8th out of 113 Edmonton neighbourhoods for speed. That means when a condo hits the market here, it doesn't sit. Buyers are paying 99.64% of list price, and our average sale price of $279,000 beats both Kameyosek ($258,000) and Richfield ($254,500). We're holding our own on price while moving fast. That's a good combination.
On the neighbourhood leaderboard, Lee Ridge condos rank 12 out of 297 for growth. That's a top-performer stat. Price rank sits at 73 out of 218 - above average for Edmonton condos. The condo side of this neighbourhood is quietly punching above its weight.
The Secret Sauce: Why Your HonestDoor Price Matters More Than Your Tax Assessment
Here's the thing about city assessments - they're calculated once a year using data that's already months old by the time it lands in your mailbox. The city assessed the average Lee Ridge house at $358,780. The HonestDoor Price, which updates in real time using actual market signals, puts that same house at $655,427. That's an 82.68% difference.
If you're making any decision - refinancing, selling, buying out a partner, settling an estate - using the assessment number is like navigating with last year's map. The HonestDoor Price is the real-world check. It reflects what buyers are actually paying right now, not what a government formula calculated six months ago.
For condos, the story flips slightly. The HonestDoor Price of $208,399 is actually 1.89% below the city's assessment of $212,424. That's useful information too - it means the city may be slightly overvaluing condos here, which is worth knowing if you're appealing your assessment.
The "So What?" - Thinking About Selling This Summer?
If you own a house in Lee Ridge and you're thinking about listing this summer, here's the straight talk. The market is stable but not on fire. You'll likely get close to your asking price - sellers are averaging 98.94% of list - but your home will probably take a few weeks to sell. Price it right from day one. Overpricing in a 25-day market just means a price drop later, which signals weakness to buyers.
The rental yield on houses here is 5.72%. If selling isn't the move, holding and renting is a genuinely strong option. That's above-average yield for Edmonton, and with estimated rent at $2,493 per month, the numbers work for landlords.
If you own a condo and you're thinking about selling, the timing looks better. Condos are moving in 13 days, buyers are paying nearly full price, and the predicted value trend is heading up. If you've been on the fence, this summer looks like a reasonable window.
Either way, the first step is knowing what your property is actually worth today - not what the city said it was worth last January. Check your HonestDoor Price, compare it to your assessment, and make decisions based on real numbers. That's the whole point.
lee ridge | edmonton | october 2026This 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.