South Hill, Red Deer - October 2026 Real Estate Report
South Hill, Red Deer: Your Neighbour Just Got a Reality Check on Their Home Value
If you own a home in South Hill and you haven't looked at your HonestDoor Price lately, now is the time. The market here is doing two very different things depending on what you own - and the gap between what the city thinks your place is worth and what buyers will actually pay is wider than ever.
The Vibe: Houses vs. Condos - Two Very Different Stories
Let's be straight with each other. South Hill is not a one-size-fits-all market right now.
Houses: Fast-Moving, But Prices Are Softening
If you've been watching the "For Sale" signs in South Hill, here's what's actually happening with houses. The average sale price sits at $246,000, down 8.6% from last month. That's not a cliff - it's the market taking a breather. But here's the interesting part: the one house that sold this month went for 104.73% of list price. Buyers are still competing when a good property hits the street.
- Average sale price: $246,000 (down 8.6% from last month)
- Average list price: $234,900
- Price per square foot: $387
- Average days on market: 15
- Sale-to-list ratio: 104.73% - buyers paid over asking
- HonestDoor predicted value: $1,099,915
- Estimated monthly rent: $3,482 with a 5.39% rental yield
That rental yield is genuinely strong. If we're thinking about holding rather than selling, the numbers support it. And on the neighbourhood leaderboard, South Hill houses rank 7 out of 80 for growth in Red Deer. That puts us in the top 10% of the city. Days on market ranks 6 out of 41 - meaning houses here sell faster than almost anywhere else in Red Deer.
Condos: Big Numbers, But Watch the Trend
The condo picture is more complicated. The HonestDoor Price for condos here jumped 26.05% to $4,491,779 - a massive number. But the predicted market value has dropped to $3,600,474, well below the 3-month moving average of $4,153,126. That gap is a signal worth paying attention to.
- Average sale price: $283,833 (essentially unchanged)
- Average list price: $249,900
- Price per square foot: $259
- Average days on market: 16
- Sale-to-list ratio: 98.44% - buyers are negotiating below asking
- HonestDoor predicted value: $3,600,474
- Estimated monthly rent: $9,408 with a 2.10% rental yield
- 24 transactions in 2026 - ranked 2nd in Red Deer for condo activity
Condos are selling - 24 transactions in 2026 puts South Hill at rank 2 in all of Red Deer for condo volume. But the growth rank tells a different story: 71 out of 72. Values have shifted -13.55% recently. This is a buyers' market for condos right now, and buyers know it.
The Secret Sauce: Why Your HonestDoor Price Matters More Than Your Tax Assessment
Here's the thing about your city assessment - it's a snapshot from months ago, built on formulas that don't know your renovated kitchen or your updated windows. The HonestDoor Price updates in real time using actual transaction data, current listing activity, and live market signals.
Right now, the city's assessment and what a buyer would actually pay for a South Hill house are not the same number. The HonestDoor Price for houses here sits at $1,099,915. That's your real-world check - not a government estimate that was calculated before the market shifted. If you're making any financial decision about your home - refinancing, selling, even just understanding your net worth - the HonestDoor Price is the number to start with.
For condo owners, this is even more critical. With values moving as sharply as -13.55% recently, relying on a static assessment could mean you're working with a number that's already out of date by tens of thousands of dollars.
The "So What?" - Thinking About Selling This Summer?
For house sellers, the window is still open - but it's not as wide as it was. Prices are down 8.6% month-over-month, but the one sale that happened went over asking. That means presentation and pricing strategy matter more than ever. Price it right and South Hill buyers will show up fast - 15 days on market proves that. Price it wrong and you'll feel the softness.
For condo sellers, summer 2025 requires a clear-eyed approach. Buyers are paying 98.44% of list price, not over it. The market is stable but it's their negotiation to have. If you need to sell, price sharp from day one. If you can wait, watch the trend over the next 60 days before committing.
Bottom line for South Hill: houses are still a strong hold with real rental upside at 5.39% yield. Condos need a closer look before any move. Either way, pull your HonestDoor Price today - it's the only number in this market that's actually keeping up with what's happening on your street right now.
south hill | red deer | 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.