South Hill, Red Deer - August 2026 Real Estate Report

South Hill, Red Deer: Your Neighbour Just Got a Reality Check on Their Home Value

If you own property in South Hill and you're still looking at your city tax assessment to know what your place is worth, stop. That number is already old news. Here's what's actually happening on the ground right now.

The Vibe: What's Going On in Our Neighbourhood

South Hill is a market of two stories right now - houses and condos are moving in different directions, and knowing which one you own matters a lot for what you do next.

Houses in South Hill

The house market here is about as steady as it gets. One home sold last month, it went for the full asking price - 100% of list - and it was gone in 12 days. That is not a slow market. For context, South Hill houses rank 3rd out of 39 neighbourhoods in Red Deer for speed of sale. Buyers are not sitting on their hands when a house hits the street here.

• Average sale price: $269,000
• Price per square foot: $248
• Average days on market: 12
• Sold at 100% of list price
• HonestDoor Price: $1,069,407
• Predicted market value (houses): $1,166,412
• 3-month moving average: $1,116,844 - and values are climbing past it
• Estimated monthly rent: $3,582 with a rental yield of 5.37%
• Growth rank: 42 out of 79 neighbourhoods in Red Deer - middle of the pack, but the trend is moving up

That 5.37% rental yield is worth paying attention to. For anyone thinking about holding a house here as a rental, that is a strong return by any measure. The neighbourhood leaderboard has South Hill houses sitting in the below-average growth tier right now, but with values up 1.54% recently and the predicted value pushing above the 3-month average, the momentum is pointing in the right direction.

Condos in South Hill

Condos are a different story - and honestly, a more interesting one. Three units sold last month at an average of $283,833, and they moved in 16 days. Buyers paid 98.44% of list, so there is a small bit of room to negotiate, but not much. This is a buyers' market by definition, but only barely.

• Average sale price: $283,833
• Average list price: $249,900
• Price per square foot: $259
• Average days on market: 16
• Sold at 98.44% of list price
• HonestDoor Price: $4,114,766
• Predicted market value (condos): $4,689,260
• 3-month moving average: $4,468,022 - values are outpacing it
• Estimated monthly rent: $9,746 with a rental yield of 2.03%
• Growth rank: 18 out of 71 neighbourhoods in Red Deer - above average
• Airbnb rank: 14th in Red Deer

That growth rank of 18 out of 71 puts South Hill condos solidly in the upper tier of Red Deer neighbourhoods. Values are up 4.40% recently, and the predicted value is climbing well above the 3-month average. The Airbnb ranking of 14th in the city also tells you short-term rental demand is real here - $459 per night is not a number to ignore if you have a condo sitting empty part of the year.

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

Here is the honest truth about city assessments: they are a snapshot from months ago, sometimes longer. They do not know that your neighbour's place sold fast last month. They do not know that condo values in South Hill are up 4.40% recently or that house values are trending above their 3-month average.

The HonestDoor Price is updated in real time using actual sales data, current market trends, and what buyers are paying right now - not what a government office calculated last year. For South Hill houses, that number sits at $1,069,407. For condos, it is $4,114,766. These are the figures a serious buyer or their agent is going to be working from. You should be too.

Yes, both property types have seen the HonestDoor Price dip from the previous period - houses down 8.32% and condos down 11.32%. That is the market taking a breather. But the predicted values are already climbing back above the 3-month averages, which means the floor may already be in.

The "So What?" - If You Are Thinking About Selling This Summer

For house sellers, the timing argument is straightforward. Homes here are selling in 12 days at full asking price. That is about as clean a seller's setup as you will find in Red Deer right now. If your place is in good shape and priced right, you are not going to be sitting on the market watching the summer pass by.

For condo sellers, the picture is still solid but requires a bit more strategy. Buyers are paying just under list, so pricing sharp from day one matters more than it does for houses. The good news is that condo growth here ranks 18th out of 71 neighbourhoods - that is a story worth telling to buyers who are comparison shopping across the city.

Either way, the move right now is to check your HonestDoor Price before you have a single conversation with an agent. Walk into that meeting knowing what the real-world data says your property is worth - not what a tax notice from last year says. That is the difference between leaving money on the table and knowing exactly where you stand.

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.