Millgrove, Spruce Grove - August 2026 Real Estate Report

Millgrove, Spruce Grove: Your Neighbour Just Got a Better Price Than You Think

If you own a home in Millgrove and you haven't checked your property value lately, you might be leaving real money on the table. The market here is moving, and the numbers tell an interesting story depending on whether you're in a house or a condo.

The Vibe: Houses vs. Condos in Millgrove

Houses - Steady Demand, Real Prices

We're seeing houses in Millgrove hold their ground. The average sale price sits at $533,500, up 5.1% from last month. Listings are averaging $550,000, and homes are moving at 97% of list price - meaning buyers are close to full ask, but there's still a little room to negotiate if you're buying.

• Average sale price: $533,500
• Average list price: $550,000
• Price per square foot: $403
• Average days on market: 41 days
• Sale-to-list ratio: 97%
• Estimated monthly rent: $2,435
• Rental yield: 5.69%
• Growth rank: 6 out of 19 neighbourhoods in Spruce Grove

That growth rank matters. Sitting at 6 out of 19 puts Millgrove houses in the top third of the neighbourhood leaderboard for Spruce Grove. We're not leading the pack, but we're well ahead of the middle. Houses here are also selling faster than Sprucewoods Villa next door, which is a quiet signal that demand is real.

Condos - A Different Animal Entirely

The condo picture in Millgrove is unusual, and worth paying attention to. Actual sale prices are modest - $137,500 on average - but the HonestDoor predicted market value tells a very different story at $1,808,958. That gap reflects a small sample size (one sale last month), so don't read too much into the raw sale number. What we can say is that condos here are selling above list price at 101.85%, which means buyers are competing. That's a sellers' signal.

• Average sale price: $137,500
• Average list price: $135,000
• Price per square foot: $114
• Average days on market: 33 days
• Sale-to-list ratio: 101.85%
• Estimated monthly rent: $6,295
• Airbnb rank in Spruce Grove: 3rd
• Growth rank: 4 out of 17 neighbourhoods in Spruce Grove

That Airbnb rank of 3rd in all of Spruce Grove is a standout number. If you own a condo here and you're not thinking about short-term rental income, that's a conversation worth having. The Airbnb estimate runs $320 per night.

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

Here's the thing about city assessments - they're a snapshot from months ago, sometimes longer. They don't know what sold on your street last week. They don't adjust for the fact that houses in Millgrove just jumped 5.1% in a single month.

The HonestDoor Price is updated in real time using actual transaction data. For houses in Millgrove, the average HonestDoor Price is $494,638. For condos, it's $1,867,440 - up 3.23% from the previous period. These numbers move with the market, not with the city's calendar.

Your tax assessment is what the city thinks your home was worth. Your HonestDoor Price is what the market thinks it's worth right now. Those two numbers are often not the same, and the difference can affect everything from your insurance coverage to your negotiating position when you sell.

Millgrove also stacks up well against nearby neighbourhoods. Woodhaven houses are priced at $468,280, Aspenglen at $440,216, and Sprucewoods Villa at $432,517. Millgrove sits above all three. That's not an accident - it reflects what buyers are actually willing to pay to be here.

The So What - Should You Sell in Millgrove This Summer?

If you've been sitting on the fence, here's the honest read. Houses are selling in 41 days, prices are up month-over-month, and the predicted value of $514,721 is trending above the 3-month average of $504,178. The market isn't on fire, but it's not taking a breather either. It's moving.

The 27 total property transactions in 2026 and a total transaction rank of 9th in Spruce Grove tell us this is an active neighbourhood - not a sleepy one. Buyers are showing up.

For sellers, the window this summer looks reasonable. You're priced above your neighbours, demand is outpacing at least one nearby area, and rental yield at 5.69% gives investors a reason to look at Millgrove seriously. That investor interest keeps a floor under prices.

Bottom line - check your HonestDoor Price before you call an agent, before you list, and definitely before you accept an offer. It's the real-world number, not the government's best guess from last year.

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.