Ormsby Place, Edmonton - September 2026 Real Estate Report

Ormsby Place, Edmonton: Your Neighbour Just Got a Surprise on Their Assessment - Here's Why

The Vibe Right Now

If you own a home in Ormsby Place and you haven't checked your HonestDoor Price lately, you're probably leaving a big number on the table. The city's assessment says the average house here is worth $469,047. The HonestDoor Price says $608,697. That's a $139,650 gap - and that gap is what actually matters when you're thinking about selling, refinancing, or just knowing where you stand.

The neighbourhood isn't exploding, but it's holding steady. With 1,169 properties assessed and 55 transactions recorded in 2026, Ormsby Place is an active, established community - not a ghost town, not a feeding frenzy. Here's how the two main property types are playing out right now.

Houses: Strong Numbers, But Take a Breath

The house market in Ormsby Place is doing something interesting. The average sale price hit $509,100 this month - up 45.5% from last month. Before you pop the champagne, that kind of jump in a single month usually means a small sample size swinging the average, not a sudden gold rush. Five properties sold this month, so keep that context in mind.

• Average sale price: $509,100
• Average list price: $495,000
• Price per square foot: $290
• Sale-to-list ratio: 98.22% - buyers are paying just under asking
• Average days on market: 20 days
• Predicted market value (HonestDoor): $629,233
• Estimated monthly rent: $2,765
• Rental yield: 5.57%

That 20-day average is worth watching. Nearby Lymburn is moving homes in 14 days. Ormsby Place is taking a bit longer, which tells us buyers have slightly more breathing room here than in some competing streets. The days-on-market rank is 19 out of 112 Edmonton neighbourhoods though - so in the big picture, houses here are still selling fast.

On the leaderboard: Ormsby Place houses rank 86 out of 291 Edmonton neighbourhoods for growth. That puts us solidly in the top third. Not leading the pack, but well ahead of the middle.

Condos: Taking a Breather

The condo side of Ormsby Place is a different story right now. Prices dipped 3.7% from last month, only 2 units sold, and the average days on market stretched to 83 days. That's slow. The sale-to-list ratio dropped to 95.69%, meaning buyers are negotiating harder and winning.

• Average sale price: $192,500
• Average list price: $209,000
• Price per square foot: $275
• Sale-to-list ratio: 95.69%
• Average days on market: 83 days
• Predicted market value (HonestDoor): $197,978
• Estimated monthly rent: $1,084
• Rental yield: 4.33%

The HonestDoor Price for condos here is $199,068 - barely above the city assessment of $198,292. Unlike houses, there's no hidden equity gap to unlock. The 3-month moving average is also trending down slightly, from $199,148 to $197,978. If you own a condo here and are thinking about selling, sooner is better than later while prices find their floor.

Condo growth ranks 105 out of 302 Edmonton neighbourhoods - still above average, but the short-term signals are pointing toward patience being required.

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

Here's the thing about city assessments - they're a snapshot from months ago, built on formulas that don't know your renovated kitchen or your quiet cul-de-sac location. For houses in Ormsby Place, the average city assessment is $469,047. The average HonestDoor Price is $608,697. That's a 29.77% difference.

That gap is real money. If you're using your assessment to decide whether to sell, refinance, or even just feel good about your net worth, you're working with an outdated number. The HonestDoor Price pulls from real-time transaction data, current market trends, and comparable sales - it's the number that reflects what a buyer would actually put on the table today.

Yes, the HonestDoor Price for houses has dipped 3.26% from the previous period. That's worth knowing. But it's still $139,650 ahead of what the city thinks your home is worth. That's the real-world check your assessment will never give you.

So What Does This Mean If You're Thinking About Selling This Summer?

For house owners in Ormsby Place, the window is open but it's not wide open forever. Prices are above last year, the predicted value of $629,233 is climbing past the 3-month average, and a 5.57% rental yield means investors are paying attention to this neighbourhood. If you list clean and price it right, 20 days to a deal is very achievable.

The comparison to nearby neighbourhoods also works in your favour. Ormsby Place houses are selling for more than Dechene ($430,000 average sold price), and the rental income potential of $2,765 per month beats Lymburn ($2,428) and Jamieson Place ($2,455). That's a story worth telling in your listing.

For condo owners, this summer calls for a realistic price from day one. With 83 days on market and buyers paying 4.3% under asking, overpricing will cost you time and negotiating leverage. A sharp list price close to the $197,978 predicted value gives you the best shot at a clean, fast sale before the fall market shifts things further.

Bottom line: Ormsby Place is a solid, stable neighbourhood sitting in the top third of Edmonton for growth. Houses have real equity that the city assessment is undervaluing by nearly $140,000. Condos need a sharper strategy. Either way, knowing your actual number - not the government's number - is where smart decisions start.

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.