Richfield, Edmonton - August 2026 Real Estate Report

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

If you have been glancing at your latest city assessment and feeling underwhelmed, sit down. The numbers on that piece of paper are not telling you the full story. Not even close.

The Vibe: What Is Actually Happening in Richfield Right Now

Richfield is a neighbourhood of two very different stories depending on whether you own a house or a condo. Here is the honest breakdown for us locals.

Houses: High Value, But the Market Is Taking a Breather

If you own a house in Richfield, the headline number is strong. The HonestDoor Price for houses sits at $1,383,396 - and that figure is climbing, up from a 3-month moving average of $1,317,334. That is real momentum. Property values have moved 4.68% recently, which puts Richfield houses at growth rank 9 out of 292 neighbourhoods in Edmonton. That is top-tier. We are not just holding our own - we are outperforming almost the entire city.

That said, the day-to-day sales market is telling a different story right now. Only 1 house sold this month, and it sat on the market for 96 days before finding a buyer. Compare that to nearby Tipaskan where homes are moving in 50 days, and you can see the gap. The average sale price came in at $235,000, down 45.5% from last month, and buyers are paying about 97.96% of list price. The market for houses in Richfield is cooling on the transaction side.

• HonestDoor Price (Houses): $1,383,396
• 3-Month Moving Average: $1,317,334
• Recent Value Change: up 4.68%
• Growth Rank: 9 out of 292 in Edmonton
• Average Days on Market: 96 days
• Average Sale Price This Month: $235,000
• Price Per Square Foot: $243
• Estimated Monthly Rent: $3,813
• Rental Yield: 5.38%

Condos: Fast Sales, But Values Are Drifting Down

The condo picture in Richfield is a bit more mixed. On the positive side, condos are moving fast - an average of just 25 days on market, which ranks 19 out of 111 in Edmonton. That is genuinely quick. Two units sold this month at an average of $253,750, and buyers are paying 97.88% of list price, which is steady.

The concern is in the value trend. The HonestDoor Price for condos is $177,590, and that is drifting down from the 3-month moving average of $179,374. Values have shifted -2.43% recently, landing Richfield condos at growth rank 252 out of 302. For condo owners, this is a market to watch closely. Nearby Lee Ridge condos are sitting at $199,561 - that gap is worth paying attention to.

• HonestDoor Price (Condos): $177,590
• 3-Month Moving Average: $179,374
• Recent Value Change: -2.43%
• Growth Rank: 252 out of 302 in Edmonton
• Average Days on Market: 25 days
• Average Sale Price This Month: $253,750
• Price Per Square Foot: $198
• Estimated Monthly Rent: $974
• Rental Yield: 4.34%

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

Here is the thing about city assessments - they are a snapshot from the past. The city assessed the average Richfield house at $391,596. The HonestDoor Price for houses is $1,383,396. That is a difference of 251.48%. If you are making any financial decision - refinancing, selling, even just knowing your net worth - and you are relying on that government number, you are working with stale data.

The HonestDoor Price updates in real time using actual market signals. It is the real-world check against a static number that gets calculated once a year and does not care what happened in the market last month. For Richfield house owners especially, the gap between what the city thinks your home is worth and what a buyer would actually pay is enormous. That gap is your money. Know it.

For condo owners, the HonestDoor Price of $177,818 is actually 1.75% below the city assessment of $180,983. That is a rare case where the assessment is slightly ahead of the market - another reason to track the live number rather than assume the city has it right.

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

If you own a house in Richfield and are thinking about listing this summer, the value story is genuinely in your favour. A growth rank of 9 out of 292 is the kind of stat that belongs in your listing conversation. The catch is patience - 96 days on market is a real timeline to plan around. Price it sharp from day one. Buyers in this range are paying close to list, but they are not rushing. With estimated rent at $3,813 a month and a 5.38% rental yield, you also have a strong hold argument if the timing does not feel right.

If you own a condo and are considering selling, the fast days-on-market stat (25 days, ranked 19 in the city) is actually working in your favour right now. The value trend is softening, so waiting is not obviously the better play. If you are ready to move, the market is still absorbing condos quickly. Get your HonestDoor Price, compare it to what Lee Ridge condos are fetching at $199,561, and have an honest conversation about your positioning.

Either way, the first step is the same - check your HonestDoor Price at honestdoor.com. It takes 30 seconds and it is the most current number you are going to find for your property in Richfield.

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.