Richfield, Edmonton - September 2026 Real Estate Report

Richfield, Edmonton: Your House Is Worth Way More Than The City Thinks

If you have been glancing at your city assessment and feeling pretty good about it, we need to talk. The numbers coming out of Richfield right now tell a very different story - and for most homeowners here, it is a story worth paying attention to before summer hits.

The Vibe: What Is Actually Happening in Richfield Right Now

Richfield is a neighbourhood of two very different markets sitting side by side. Houses and condos are not moving the same way, and if you own one versus the other, your game plan should look completely different heading into the warmer months.

Houses: High Value, Slow Burn

Let us be straight with you. Houses in Richfield are sitting on the market longer than we would like to see. The average days-on-market is 96 days, which is nearly double what buyers are waiting in nearby Tipaskan at 50 days. That is the market taking a breather, and sellers need to know that going in.

• Average sale price: $431,333
• Current average listing price: $239,900
• Price per square foot: $366
• Sale-to-list ratio: 97.96% - buyers are negotiating below asking
• Properties sold this month: 3
• Average days on market: 96 days
• Predicted market value: $1,376,380
• Rental yield: 5.38%
• Estimated monthly rent: $3,808

The predicted market value of $1,376,380 is actually trending up from the 3-month moving average of $1,360,445, so the underlying value is moving in the right direction even if the sales pace is sluggish. On the neighbourhood leaderboard, Richfield houses rank 193 out of 291 for growth in Edmonton - that puts us in the below-average tier right now. Not a crisis, but not a hot streak either.

The rental story is genuinely strong though. A 5.38% rental yield is not something you see everywhere in Edmonton. If selling is not the plan, holding and renting is a real option worth running the numbers on.

Condos: Fast Movers, Steady Hands

Condos in Richfield are a different animal entirely. They are selling fast - 25 days on market on average - and on the Edmonton leaderboard, that ranks 20 out of 112 neighbourhoods for speed. That is a top-tier result. Buyers are finding condos here and moving quickly.

• Average sale price: $253,750
• Current average listing price: $260,000
• Price per square foot: $198
• Sale-to-list ratio: 97.88% - slight negotiation room, but stable
• Properties sold this month: 2
• Average days on market: 25 days
• Predicted market value: $177,818
• Rental yield: 4.34%
• Estimated monthly rent: $975

Condo growth ranks 108 out of 302 in Edmonton - that is above average on the leaderboard. The predicted value is slightly softer than nearby Lee Ridge at $199,500, but Richfield condos are priced above Tipaskan at $159,663, which keeps us in a solid middle-ground position. The market here is stable, not spectacular, but condos are moving and that matters.

The Secret Sauce: Your HonestDoor Price vs. Your City Assessment

Here is the number that should make every Richfield homeowner sit up straight. The city's average assessed value for a house here is $391,596. The average HonestDoor Price is $1,299,130. That is a gap of 231.75%.

Your city assessment is a snapshot taken months ago using broad formulas. It does not know what sold on your street last week. It does not factor in your renovated kitchen or the way the market shifted in the last quarter. The HonestDoor Price is a real-time calculation that pulls from actual transaction data - it is the number a buyer would actually talk about, not the number a tax office calculated in the past.

For condos, the picture is different but still worth checking. The average assessed value is $180,983 and the HonestDoor Price is $179,535 - essentially in line, with a slight 0.97% uptick recently. That tells us the condo market here is fairly valued right now, with no big surprises hiding in either direction.

Bottom line: if you are making any financial decision based on your assessment notice, you are working with old information. The HonestDoor Price is your real-world check.

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

If you own a house in Richfield and you are thinking about listing this summer, here is the honest take. The market is a buyers' market right now. Homes are sitting for 96 days on average and selling just under asking. That does not mean you should not sell - it means you need to price it right from day one. Overpricing and chasing the market down is the worst move you can make in this environment.

The good news is that your underlying value is strong. A predicted market value of $1,376,380 with a rising 3-month trend means the asset itself is holding up. Pair that with a 5.38% rental yield and you have a genuine choice to make - sell into a slower market or hold and let a tenant cover your costs while you wait for conditions to shift.

If you own a condo, your position is actually better for a summer sale. Fast days-on-market and above-average growth ranking means buyers are active in this segment. With listings averaging $260,000 and sales coming in at $253,750, the gap is small and the pace is quick. If you are ready to move, condos in Richfield have a real audience right now.

Either way, start with your HonestDoor Price - not your assessment notice - and you will be working with the right number from the 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.