Mayfield, Edmonton - August 2026 Real Estate Report

Mayfield, Edmonton: Your Home Is Worth More Than the City Thinks

If you own a home in Mayfield and you're still going off your city assessment, you're leaving real money on the table. The average assessed value here sits at $349,097 - but the average HonestDoor Price is $387,479. That's nearly $38,000 more. That gap matters, and we'll get into why in a second.

The Vibe: What's Actually Happening in Our Neighbourhood

Mayfield had 52 house transactions and 14 condo transactions in 2026, across 781 assessed properties. The market is moving, but it's moving differently depending on what you own. Here's the split:

Houses: A Sellers' Market Taking a Breather

If you've been watching the "For Sale" signs on our streets, here's what's actually happening. Houses are still selling above asking - buyers paid an average of 101.69% of list price. That's a win for sellers. But the average sale price dropped 9.8% from last month to $381,200, and the predicted market value of $380,424 is trending slightly below the 3-month average of $382,407. The market isn't crashing - it's just catching its breath.

• Average sale price: $381,200 (down 9.8% from last month)
• Average list price this month: $374,450
• Price per square foot: $357
• Sale-to-list ratio: 101.69% - buyers are still paying over ask
• Average days on market: 26 - moderately fast by Edmonton standards (rank 25 out of 108)
• Properties sold this month: 2
• Estimated rent: $1,987 per month
• Rental yield: 5.86% - that's a strong return
• Growth rank: 235 out of 292 - we're in the bottom tier on the neighbourhood leaderboard right now

The growth rank of 235 out of 292 is honest - Mayfield houses aren't leading the city in appreciation at the moment. But homes are still selling fast and above list. That's a nuanced story: demand is real, even if price growth has slowed.

Condos: Cheap, Fast, and Flying Under the Radar

Here's a stat that should turn heads. Mayfield condos rank 31 out of 218 neighbourhoods in Edmonton for price - meaning we're among the most expensive condo markets in the city. Yet the average sale price is $112,000. That sounds like a contradiction, but it tells you how affordable condos are across Edmonton overall. Our condos are holding their own.

• Average HonestDoor Price: $147,455 (up 3.00% from last period)
• Average sale price: $112,000
• Average list price: $119,000
• Price per square foot: $183
• Sale-to-list ratio: 92.44% - buyers have some negotiating room here
• Average days on market: 13 - very fast-selling (rank 7 out of 111 in Edmonton)
• Properties sold this month: 8
• Estimated rent: $753 per month
• Rental yield: 4.33% - moderate but steady
• Growth rank: 181 out of 302 - below average, but condos are appreciating (up 3% recently)

Condos selling in 13 days on average is not a slow market. That's rank 7 out of 111 Edmonton neighbourhoods. If you own a condo in Mayfield and you're thinking about selling, buyers are out there and they're moving quickly.

The Secret Sauce: Why Your HonestDoor Price Is the Number That Actually Matters

The city's assessed value is a snapshot from the past. It's calculated once a year using data that's already months old by the time it lands in your mailbox. The HonestDoor Price updates in real time, pulling from actual sales, current listings, and live market signals.

For Mayfield houses, that difference is 10.99% - the HonestDoor Price runs that much higher than the average Edmonton assessed value. In dollar terms, we're talking about a gap of roughly $38,000 on a single property. If you're making any financial decision - refinancing, selling, even just understanding your net worth - using the city's number is like navigating with an old map.

The HonestDoor Price for houses is $387,479, up 1.85% from the previous period. For condos, it's $147,455, up 3.00%. Both are moving in the right direction, even while short-term sale prices fluctuate. That's the real-world check your assessment can't give you.

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

Here's the straight talk for anyone in Mayfield weighing a summer sale.

For house owners - the window is still open, but it's not as wide as it was. Buyers are paying over list price, which is genuinely good news. But with prices down 9.8% month-over-month and growth ranking 235 out of 292 on the Edmonton leaderboard, waiting for a big run-up may not be the play. If your life circumstances make selling the right call, the demand is there right now. Price it right and you'll likely get above ask.

For condo owners - this might actually be your moment. Condos are selling in 13 days on average. That's one of the fastest turnaround rates in the entire city. The sale-to-list ratio of 92.44% means buyers are negotiating, so don't overprice - but don't undersell either. The HonestDoor Price of $147,455 is your anchor. Use it.

Either way, check your HonestDoor Price before you do anything else. It's free, it's current, and it's almost certainly higher than what the city told you your home is worth. That number is your starting point - not the assessment notice sitting in your junk drawer.

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.