Lee Ridge, Edmonton - September 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 here is worth $358,780. The real-world market says closer to $654,057. That is not a rounding error - that is an $295,000 gap. Here is what is actually going on in our neighbourhood right now.

The Vibe: Houses vs. Condos in Lee Ridge

Houses - Steady, Affordable, and Worth a Second Look

If you have been watching the "For Sale" signs on our streets, here is what the numbers are telling us. Houses in Lee Ridge are selling at an average of $178,000, with listings sitting at $179,900. Buyers are paying 98.94% of list price, which means we are in a stable buyers' market - sellers are not getting into bidding wars, but they are not getting lowballed either.

• Average sale price: $178,000
• Average list price: $179,900
• Price per square foot: $283
• Average days on market: 25 days
• Properties sold last period: 3
• Sale-to-list ratio: 98.94%
• Predicted market value (HonestDoor): $660,036
• 3-month moving average: $668,087 (slight dip)

Houses are taking 25 days to sell on average. That is slower than Kameyosek next door, where homes are moving in 13 days. Lee Ridge houses are taking a bit of a breather compared to that neighbour. On the flip side, we are right in line with Richfield at 25 days, so we are not out of step with the broader area. On the neighbourhood leaderboard, our house growth rate ranks 224 out of 291 Edmonton neighbourhoods - below average for now, but the rental yield of 5.72% is genuinely strong for investors who are paying attention.

The rental story is worth noting. Estimated rent comes in at $2,510 per month. For anyone thinking about holding rather than selling, that yield is hard to ignore.

Condos - Fast-Moving and Punching Above Their Weight

Here is where Lee Ridge condos get interesting. They are selling fast - 13 days on market - which puts us at rank 8 out of 112 Edmonton neighbourhoods for speed. That is not a typo. We are in the top tier for how quickly condo buyers are pulling the trigger here.

• Average sale price: $279,000
• Average list price: $280,000
• Price per square foot: $209
• Average days on market: 13 days
• Properties sold last period: 1
• Sale-to-list ratio: 99.64%
• Predicted market value (HonestDoor): $199,500
• 3-month moving average: $201,839 (slight dip)
• HonestDoor Price (neighbourhood average): $216,714 - up 8.63% from last period

Condo values here are up 8.63% from the previous period - the strongest momentum signal in this whole report. Our condos are priced above nearby Richfield ($253,750 average sold) and Kameyosek ($258,000 average sold), which tells us buyers see something worth paying a bit more for. On the neighbourhood leaderboard, condo growth ranks 116 out of 302 Edmonton neighbourhoods - solidly above average. Rental yield sits at 4.32%, which is moderate but respectable for a condo product.

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

Here is the honest truth about how Edmonton assesses your property. The city's assessed value is calculated once a year, using data that is already months old by the time it lands in your mailbox. For houses in Lee Ridge, that number averages $358,780. The HonestDoor Price - which updates in real time using actual market signals - puts the same homes at $654,057. That is 82.30% higher than what the city is using as its benchmark.

For condos, the gap is smaller but still real. The city says $212,424. HonestDoor says $216,714. And that condo number just jumped 8.63% in a single period.

If you are making any financial decision - refinancing, selling, even just understanding your net worth - using the government assessment is like navigating with a map from last year. The HonestDoor Price is the real-world check that reflects what a buyer would actually pay today, not what the city calculated last January.

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

If you are a house owner in Lee Ridge and you are thinking about listing this summer, here is the straight talk. The market is stable but not on fire. Homes are moving in about 25 days and selling close to list price, so pricing it right from day one matters more than ever. You will not get away with padding the ask. The good news is that with only 3 recent sales and 617 assessed properties in the neighbourhood, serious buyers have limited options - and that works in your favour.

For condo owners, the timing looks better right now. Values are up 8.63%, condos are selling in 13 days, and you are priced above most of your nearby competition. If you have been sitting on the fence, this is a window worth taking seriously before that momentum fades - the 3-month moving average is already showing a slight dip from $201,839 to $199,500.

Either way, the first step is simple. Pull your HonestDoor Price before you call an agent, set a list price, or make any assumptions based on your tax notice. The gap between what the city thinks your home is worth and what the market will actually pay for it is the most important number in Lee Ridge real estate right now.

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.