Terrace Heights, Edmonton - August 2026 Real Estate Report

Terrace Heights Real Talk: Your Home Is Worth More Than the City Thinks

If you own a home in Terrace Heights and you have not checked your HonestDoor Price lately, you are leaving real money on the table. The city's assessment says one thing. The actual market says something else entirely - and the gap is significant.

The Vibe: What's Actually Happening on Our Streets

Houses - Moving Fast, Priced Strong

If you have been watching the "For Sale" signs in Terrace Heights, here is what is actually happening with houses right now. The average HonestDoor Price sits at $537,880, and the predicted market value for houses is $543,617 - already climbing past the 3-month moving average of $538,727. That upward tick matters. It means momentum is on the seller's side.

• Average HonestDoor Price: $537,880
• Average sale price in 2026: $620,000
• Current average listing price: $650,000
• Price per square foot: $605
• Average days on market: 18 days
• Sale-to-list ratio: 95.38% - buyers are paying close to asking
• Estimated monthly rent: $2,629
• Rental yield: 5.58%
• 19 total property transactions in 2026

Eighteen days on market is not a slow neighbourhood - that ranks 17th out of 108 Edmonton neighbourhoods for speed. Houses here sell fast. If you are a buyer, do not sleep on a listing. If you are a seller, that stat is your friend.

The rental yield of 5.58% is genuinely strong. For anyone thinking about holding a property as an investment, Terrace Heights houses are pulling their weight.

Condos - Taking a Breather

We will be straight with you - the condo side of Terrace Heights is a different story right now. The average HonestDoor Price for condos is $103,729, and that number has slipped 4.66% from the previous period. The predicted market value of $108,799 is also dipping below the 3-month moving average of $111,345. That is a cooling signal worth paying attention to.

• Average HonestDoor Price: $103,729 (down 4.66%)
• Average sale price in 2026: $55,555 (down 44.4% from last month)
• Current average listing price: $58,900
• Price per square foot: $135
• Average days on market: 82 days
• Sale-to-list ratio: 94.32%
• Estimated monthly rent: $545
• Rental yield: 4.32%
• 4 total condo transactions in 2026

Eighty-two days on market is slow - and it is slower than nearby Fulton Place at 74 days. With only 4 transactions so far in 2026, the condo market here is thin. Thin markets mean bigger price swings, so treat those monthly numbers with some caution. The price rank of 213 out of 218 Edmonton neighbourhoods tells us condos here are among the most affordable in the city - which is either a buying opportunity or a reflection of limited demand, depending on your angle.

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

Here is the thing about your city assessment - it is a snapshot from the past. It is based on market conditions from months ago, processed through a formula, and mailed to your door. It does not know what sold on your street last week.

For Terrace Heights houses, the average city assessment is $471,339. The average HonestDoor Price is $537,880. That is a gap of over $66,000 - or 14.12% higher than what the city has on file. If you are making any financial decision based on that assessment number alone - whether it is refinancing, listing, or just understanding your net worth - you are working with an outdated figure.

The HonestDoor Price updates in real time using actual transaction data. It is the real-world check against a static government number. For condo owners, the picture flips - the HonestDoor Price of $103,729 is actually 12.47% below the city's assessed value of $118,505. That gap matters too, especially if you are pricing a sale or negotiating.

The Neighbourhood Leaderboard

Where does Terrace Heights stack up against the rest of Edmonton? Here is the honest scorecard:

• House growth rank: 150 out of 292 Edmonton neighbourhoods - sitting just below the middle of the pack
• House days-on-market rank: 17 out of 108 - top tier, properties move quickly here
• House price rank: 132 out of 285 - above average pricing for Edmonton
• Condo growth rank: 148 out of 302 - above average for condos
• Neighbourhood growth year over year: 0.10% for houses, 0.05% for condos

Compare that to the neighbours. Fulton Place houses are priced at $508,893 with 0.09% growth. Ottewell sits at $491,348 with 0.04% growth. River Valley Gold Bar comes in at $469,559. Terrace Heights houses are priced higher than all three nearby neighbourhoods and growing faster than both Fulton Place and Ottewell. That is a real competitive edge.

The So What - Should You Sell This Summer?

If you own a house in Terrace Heights and you have been thinking about selling, this summer has some things going for it. Houses are moving in 18 days on average. Buyers are paying 95.38% of list price. The HonestDoor Price is sitting $66,000 above the city assessment, which means there is room to price confidently without leaving money behind.

The neighbourhood growth rate of 0.10% is not explosive, but it is steady - and it beats both Fulton Place and Ottewell. Steady beats flashy when you are trying to attract serious buyers who are doing their homework.

For condo owners, the honest advice is to be patient or be strategic. The market is slower, prices have dipped, and you are competing in one of Edmonton's most affordable condo segments. If you need to sell, price sharp and move fast. If you can wait, watch the next few months of HonestDoor Price data before pulling the trigger.

Bottom line - Terrace Heights is a solid, fast-moving house market with a condo segment that is taking a breather. Know your real number before you make any move. That is what the HonestDoor Price is for.

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.