Ormsby Place, Edmonton - August 2026 Real Estate Report

Ormsby Place, Edmonton: Your Neighbour Just Got a Reality Check on Their Home Value

If you own a home in Ormsby Place and the last number you checked was your city assessment, you are likely sitting on a much bigger asset than you think - or in the case of condos, a number that tells a very different story. Here is what is actually happening on our streets right now.

The Vibe: Houses vs. Condos in Ormsby Place

Houses - Strong Value, But the Market is Taking a Breather

If you have been watching the "For Sale" signs in Ormsby Place lately, here is what is actually happening. House prices are pulling back in the short term - the average sale price sits at $349,950, down 38.1% from last month - but do not let that spook you. We are talking about only 2 sales this month, down from 4, so one or two deals can swing that number dramatically. The underlying picture is healthier than the headline suggests.

• Average sale price (this month): $349,950
• Average list price: $362,450
• Price per square foot: $272
• Sale-to-list ratio: 97.62% - buyers are getting a small discount, but sellers are not giving the house away
• Average days on market: 40 days
• Properties sold this month: 2

The longer-term signal is more encouraging. The predicted market value for a house here is $624,232, and that number is actually climbing past the 3-month moving average of $618,897. Rental income potential sits at $2,752 per month, with a rental yield of 5.58%. That is a strong return for anyone thinking about holding rather than selling. On the neighbourhood leaderboard, our house growth ranks 191 out of 292 Edmonton neighbourhoods - below average, yes, but days on market ranks a much more respectable 38 out of 108, meaning our homes are still moving faster than most of the city.

Condos - Stable Sales, But Values Are Drifting

The condo side of Ormsby Place is a different conversation. Sales are steady - 3 units moved this month at an average of $200,000 - but the predicted value of $197,585 is slipping below the 3-month moving average of $200,195. That is a -2.15% recent change, and on the neighbourhood growth leaderboard, our condos rank 246 out of 302. That puts us in the bottom tier for Edmonton condo growth right now.

• Average sale price: $200,000
• Average list price: $182,450
• Price per square foot: $236
• Sale-to-list ratio: 96.28% - buyers are negotiating a bit
• Average days on market: 36 days
• Properties sold this month: 3
• Rental yield: 4.33% - moderate, but not a standout

One thing worth noting: nearby Lymburn condos are averaging $212,389 with slightly faster growth. If you own a condo here and are weighing your options, that comparison matters.

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

Here is the thing about your city assessment - it is a snapshot from the past. The city assessed the average Ormsby Place house at $469,271. The HonestDoor Price for that same house is $629,554. That is a gap of 34.16%, or roughly $160,000 that your assessment is not telling you about. If you are making any financial decision - refinancing, selling, even just understanding your net worth - using the city number is like navigating with an old map.

The HonestDoor Price updates in real time using actual market activity. With 48 house transactions and 37 condo transactions recorded in Ormsby Place in 2026 alone, and 1,168 house properties and 584 condo properties assessed this year, there is real data behind that number - not a formula that gets refreshed once a year.

For condos, the story is different but equally important. The assessed value is $198,309 and the HonestDoor Price is $198,011 - nearly identical, which tells you the condo market here is priced close to what the city thinks. No hidden upside, but also no nasty surprises.

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

For house owners, the timing conversation is real. Your underlying asset value is strong - $629,554 on average - and rental demand backs that up at $2,765 per month. But the active market is soft right now. Two sales, 40 days on market, and buyers paying just under list price. If you list this summer, price it sharp. The buyers are there, but they are not in a rush, and they know it.

For condo owners, be honest with yourself. Values are drifting down slightly, growth ranks near the bottom of the Edmonton leaderboard, and nearby options like Lymburn are priced higher and growing faster. That does not mean you cannot sell - 36 days on market is actually decent - but do not expect to hold out for a premium. Price it to move.

The bottom line for anyone in Ormsby Place: check your HonestDoor Price before you do anything else. It is the real-world number - not the government's annual guess. With neighbourhood growth at 0.06% year over year for houses, this market is not racing ahead. But it is not falling apart either. Know your number, make your move with clear eyes.

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.