Ormsby Place, Edmonton - October 2026 Real Estate Report
Ormsby Place, Edmonton: Your House Is Worth More Than the City Thinks - But the Market Is Sending Mixed Signals
The Vibe Right Now
If you've been watching the "For Sale" signs in Ormsby Place lately, here's what's actually happening. The story is different depending on whether you own a house or a condo - and the gap between those two stories is wider than you'd expect for one neighbourhood.
Houses: Prices Are Up, But the Market Is Taking a Breather
The average house sale price in Ormsby Place hit $531,667 this month - up 4.4% from last month. That sounds great. But dig a little deeper and we see some caution flags. Only 3 houses sold, which is down 40% from the month before. Homes are sitting on the market for an average of 52 days, and buyers are paying about 97 cents on the dollar of list price. That means sellers are getting close to what they're asking, but not everything.
- Average sale price (houses): $531,667 - up 4.4% month over month
- Average list price: $589,900
- Price per square foot: $586
- Sale-to-list ratio: 96.97% - buyers are negotiating small discounts
- Properties sold this month: 3
- Average days on market: 52
- Predicted market value: $608,697
- 3-month moving average: $620,613 - values are dipping slightly
- Rental yield: 5.59% - strong for investors
- Estimated monthly rent: $2,713
The predicted value of $608,697 is sitting below the 3-month moving average of $620,613, and recent property value change is -3.26%. On the neighbourhood leaderboard, Ormsby Place houses rank 229 out of 285 for growth in Edmonton right now. That puts us near the bottom tier for price momentum. It's not a crisis - it's a cooldown. But sellers should know that going in.
Condos: A Different Animal Entirely
The condo side of Ormsby Place is a different conversation. The average condo sale price dropped to $141,250 this month - down 26.6% from last month. Only 2 units sold, and they sat on the market for an average of 98 days. Buyers paid just 93.61% of list price, meaning sellers are giving up more ground to close a deal.
- Average sale price (condos): $141,250 - down 26.6% month over month
- Average list price: $150,700
- Price per square foot: $227
- Sale-to-list ratio: 93.61%
- Properties sold this month: 2
- Average days on market: 98
- Predicted market value: $199,068
- 3-month moving average: $198,203 - values are nudging upward
- Rental yield: 4.33% - moderate returns
- Estimated monthly rent: $1,090
Here's the silver lining for condo owners. The predicted value of $199,068 is actually trending above the 3-month moving average, and recent value change is +0.55%. On the neighbourhood leaderboard, Ormsby Place condos rank 104 out of 297 for growth - that puts us in the above-average tier for Edmonton. The day-to-day sales are slow, but the underlying value trend is quietly moving in the right direction.
The Secret Sauce: Why Your HonestDoor Price Matters More Than Your Tax Assessment
Here's the thing most Ormsby Place homeowners don't realize. The city's assessed value for houses here averages $469,047. The average HonestDoor Price is $601,906. That's a gap of 28.33% - meaning the city's number is running almost $133,000 behind what the real-world market says your home is worth.
Your tax assessment is a snapshot taken months ago using broad formulas. The HonestDoor Price pulls from actual recent sales, current listing activity, and live market signals. It's updated in real time. If you're using your assessment to decide whether to sell, refinance, or even just understand your net worth - you're working with an outdated number. The HonestDoor Price is the real-world check.
For condo owners, the picture is actually flipped. The average assessed value is $198,292, but the HonestDoor Price is $195,114 - about 1.6% below assessment. That's a signal worth paying attention to if you're planning to sell or refinance a condo unit.
How Does Ormsby Place Stack Up Against the Neighbours?
We're not the priciest block on the west end, but we're holding our own. Here's a quick look at how nearby neighbourhoods compare on houses:
- Lymburn: HonestDoor Price $617,340 - slightly more expensive than us, same growth rate
- Dechene: HonestDoor Price $545,578 - cheaper than us, same growth rate
- Jamieson Place: HonestDoor Price $483,799 - cheaper than us, slightly slower growth
Ormsby Place sits in the middle of the pack on price, and our 0.06% year-over-year neighbourhood growth matches Lymburn and Dechene. We're not leading the pack, but we're not falling behind either.
The "So What?" - Should You Sell This Summer?
If you own a house in Ormsby Place and you're thinking about listing this summer, the honest answer is: the timing is okay, but not exceptional. Prices are up month over month, and your HonestDoor Price is running well above the city's assessment - which means there's real equity to capture. But with only 3 sales last month, 52 days on market, and a growth rank of 229 out of 285, you're not in a sprint market. You're in a patient market. Price it right from day one, because buyers here are negotiating.
If you own a condo and you're thinking about selling this summer, be realistic. The recent sale price of $141,250 is well below the predicted value of $199,068, which tells us the active buyers right now are finding deals - not paying full freight. If you can wait, the predicted value trend is moving up. If you need to sell now, price aggressively and expect some negotiation.
For anyone thinking about buying in Ormsby Place - houses are sitting long enough that you have room to negotiate. Condos even more so. This is not a neighbourhood where you need to waive conditions and bid blind. Take your time, use the HonestDoor Price as your anchor, and make an informed offer.
ormsby place | 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.