Summerlea, Edmonton - August 2026 Real Estate Report

Summerlea Real Estate Update: Your House Is Worth More Than the City Thinks

The Vibe Right Now

If you own a house in Summerlea and you haven't checked your HonestDoor Price lately, you're leaving real money on the table. The city's assessment pegs the average house at $425,593. The average HonestDoor Price? $564,777. That's a $139,184 gap - and it matters a lot if you're thinking about selling, refinancing, or just want to know where you actually stand.

Houses: A Sellers' Market, Full Stop

Here's what's happening on the ground for houses in Summerlea right now. Buyers are not just meeting the asking price - they're beating it.

• Average sale price: $463,750 - up 18.9% from last month
• Homes are selling at 103.55% of list price - buyers are going over ask
• Average days on market: 7 days - faster than nearby Terra Losa at 10 days
• Price per square foot: $301
• Predicted market value: $544,952
• Rental yield: 5.70% - that's a strong return if you're holding as an investment

Seven days on market is not a typo. When a house hits the MLS in Summerlea, it's gone almost before the sign goes in the lawn. That kind of speed tells us demand here is real and buyers are motivated. The one thing worth watching: the predicted value of $544,952 is sitting a bit below the 3-month moving average of $561,159, so we're not in runaway territory - but the fundamentals are solid.

On the neighbourhood leaderboard, Summerlea houses rank 6 out of 108 Edmonton neighbourhoods for days-on-market speed. That's top-tier. Price rank sits at 244 out of 285, which means we're still one of the more affordable options in the city - a fact that keeps buyers coming.

Condos: Taking a Breather

The condo story in Summerlea is a different one. One sale last month, at $186,000, and buyers paid 95.24% of list price - meaning sellers had to negotiate. Condos are sitting for about 15 days, which is longer than nearby Terra Losa at 10 days. This is a buyers' market for condos right now, plain and simple.

• Average assessed value: $213,302
• Average HonestDoor Price: $179,453 - down 0.35% from last period
• HonestDoor Price is 15.87% below the city's assessed value
• Average sale price: $186,000
• Price per square foot: $189
• Rental yield: 4.33% - moderate, but still positive
• Estimated rent: $984 per month

Here's the thing condo owners need to hear: the city's assessment of $213,302 is actually higher than what the market is paying right now. The HonestDoor Price of $179,453 is the more honest read. If you're a condo owner banking on that assessed number, it's worth a reality check before you make any big decisions. On the neighbourhood leaderboard, condo growth ranks 206 out of 302 - below average. But days on market still ranks 9 out of 111, so when a condo is priced right, it does move.

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

The city assesses your property once a year, using data that's already months old by the time it lands in your mailbox. A lot can change in that time - and in Summerlea's house market, it clearly has. The HonestDoor Price updates in real time, pulling from actual sales, current listings, and live market signals. For houses here, that means a number that's 32.70% higher than the city's assessment. That's not a rounding error. That's the difference between knowing what your home is worth and guessing.

If you're a condo owner, the HonestDoor Price is equally important - but for the opposite reason. It's telling you the market has cooled below what the city thinks your unit is worth. That's information you need before you price a listing or negotiate a sale.

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

For house owners in Summerlea, this summer looks like a genuine window. Buyers are paying over asking, homes are moving in a week, and your real-world value is sitting well above what the city has on file. If you've been waiting for the right moment, the data is pointing at right now.

For condo owners, patience and pricing are everything. The market is softer, buyers have options, and the HonestDoor Price suggests the city's assessment is running a bit hot. Price sharp, stage well, and don't anchor to that assessed number.

Either way, the first move is the same - check your HonestDoor Price at honestdoor.com and get the real-world number before you do anything else. Your neighbour's tax notice is not your market value.

• Summerlea neighbourhood growth: 0.08% year over year
• 338 houses assessed this year, 248 condos assessed
• 14 house transactions and 11 condo transactions recorded in 2026
• Average rental estimate (all property types): $2,492 for houses, $981 for condos

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.