Terrace Heights, Edmonton - June 2026 Real Estate Report

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

The Vibe Right Now

If you own a house in Terrace Heights, here is the number that matters most: the city says your home is worth $471,339. The HonestDoor Price says $539,467. That is a $68,128 gap - and that gap is money you could be leaving on the table if you are making decisions based on your tax assessment alone.

The neighbourhood is holding steady with 0.10% year-over-year growth, and on the Edmonton leaderboard, Terrace Heights houses rank 107 out of 305 neighbourhoods for growth. That puts us in the above-average tier - not the flashiest number on the board, but solid and consistent. Every neighbour around us - Fulton Place, Ottewell, River Valley Gold Bar - is cheaper and growing slower. That is not a coincidence. Terrace Heights has something they want.

Houses: A Breather, Not a Breakdown

Let's be straight about what the house numbers are saying right now. The average sale price came in at $424,500 this period, which is down 12.6% from last month. That sounds alarming until you look at the full picture. Only 2 homes sold, so one or two deals can swing that average hard. The HonestDoor predicted market value for houses sits at $533,097 - and that number is actually climbing above the 3-month moving average of $528,543.

The market is taking a breather. It is not falling apart.

• Average HonestDoor Price (Houses): $539,467 - up 1.19% from last period
• Predicted Market Value: $533,097 - trending up from $528,543 (3-month average)
• Average Sale Price This Period: $424,500
• Listings Average: $532,633
• Price Per Square Foot: $351
• Sold-to-List Ratio: 100.76% - buyers paid above asking
• Average Days on Market: 52 days (ranks 48 out of 103 - moderately fast)
• Estimated Monthly Rent: $2,588 - $2,614
• Rental Yield: 5.60% - that is a strong return
• Transactions in 2026: 11 (ranks 58 in Edmonton - solid activity)

One stat worth flagging: buyers are still paying over list price on houses. When prices dip but buyers keep bidding above asking, that tells you demand is real. The dip is a data blip, not a trend.

Condos: Affordable, But Know What You Are Getting Into

The condo story in Terrace Heights is a different conversation. The city assessed condos at an average of $118,505, but the HonestDoor Price is $108,674 - and it has dropped 6.77% from the previous period. This is one of those rare cases where the assessment is actually running above the real-world market price. Worth knowing before you price anything.

Condos here rank 210 out of 223 neighbourhoods for price in Edmonton - meaning we are near the bottom of the price range. If you are an investor hunting yield, the numbers are moderate at 4.32%. If you are a buyer looking for an entry point into the east end, this is one of the most affordable options in the city.

• Average HonestDoor Price (Condos): $108,674 - down 6.77% from last period
• Predicted Market Value: $116,562 - up from $115,334 (3-month average)
• Average Sale Price This Period: $100,000
• Listings Average: $114,900
• Price Per Square Foot: $126
• Sold-to-List Ratio: 95.74% - buyers negotiated below asking
• Average Days on Market: 53 days (ranks 44 out of 110 - moderately fast)
• Estimated Monthly Rent: $539 - $578
• Rental Yield: 4.32% - moderate
• Transactions in 2026: 3

The Secret Sauce: Why Your HonestDoor Price Matters More Than Your Assessment

Here is the thing about your city assessment - it is a snapshot from months ago, built on a formula that does not know what your kitchen renovation looks like or what buyers are actually offering on your street right now. It gets updated once a year. The market moves every week.

The HonestDoor Price pulls from real transaction data and updates in real time. For house owners in Terrace Heights, that means the HonestDoor Price is running 14.45% higher than the city average assessed value. If you are using your assessment to decide whether to sell, refinance, or even just understand your net worth, you are working with an outdated number.

Check your HonestDoor Price. It is the real-world check your assessment cannot give you.

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

For house sellers, the timing is actually reasonable. Yes, the recent sale average dipped - but the predicted value is climbing, buyers are still paying over list, and every comparable neighbourhood around us is cheaper. You have a pricing advantage right now. The 52-day average days on market means you need to price it right from day one. Overpriced listings are sitting. Well-priced ones are moving above asking.

For condo sellers, be realistic. The HonestDoor Price has pulled back, buyers are negotiating below list, and the pool of buyers is smaller with only a handful of transactions happening. That does not mean do not sell - it means price it sharp, stage it well, and do not anchor to the city assessment, which is running above what the market is actually paying.

Bottom line: Terrace Heights is a neighbourhood that holds its value, beats its neighbours on price, and still has buyers willing to compete. If you are a house owner thinking about this summer, the window is open. Just do not walk in blind - know your real number first.

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.