Burnaby Heights, Burnaby - August 2026 Real Estate Report

Burnaby Heights Real Estate: Your Neighbour's Assessment Is Lying To You

If you own a home in Burnaby Heights and you're still looking at your city assessment to know what your place is worth, stop. That number is already stale. Here's what's actually happening on the ground right now.

The Vibe: What's Going On With Houses and Condos

We're in a market that's taking a breather, but not falling apart. Let's break it down by property type so you know exactly where you stand.

Houses in Burnaby Heights

If you own a house here, you're sitting on serious value. The average sale price is $1,833,000, and price per square foot is running around $1,292. Only 1 house sold last month, which tells us inventory is tight - not that demand has disappeared.

• Average Sale Price: $1,833,000
• Price Per Square Foot: $1,292
• HonestDoor Price: $1,907,810
• Predicted Market Value: $1,954,657
• 3-Month Moving Average: $1,941,718 (values are climbing)
• Estimated Monthly Rent: $6,702
• Rental Yield: 3.78%
• Recent Value Change: +1.21%
• Growth Rank: 5 out of 36 neighbourhoods in Burnaby
• Price Rank: 8 out of 35 neighbourhoods in Burnaby

That growth rank is the number to pay attention to. Top 5 out of 36 neighbourhoods means Burnaby Heights houses are outperforming most of the city right now. The predicted market value of $1,954,657 is already trending above the 3-month moving average - that's a signal values are pushing upward, not sliding.

Condos in Burnaby Heights

The condo story here is genuinely interesting. The average sale price sits at $555,000 with a price per square foot of $729. That's a competitive entry point compared to what we're seeing across Burnaby. And the HonestDoor Price of $1,695,412 has moved up 3.09% from last period - one of the stronger recent gains we're tracking in the area.

• Average Sale Price: $555,000
• Price Per Square Foot: $729
• HonestDoor Price: $1,695,412 (up 3.09%)
• Predicted Market Value: $1,644,644
• 3-Month Moving Average: $1,655,816 (slight dip in short-term trend)
• Estimated Monthly Rent: $5,554
• Rental Yield: 2.68%
• Recent Value Change: -0.92%
• Growth Rank: 7 out of 37 neighbourhoods in Burnaby
• Price Rank: 11 out of 26 neighbourhoods in Burnaby

The short-term predicted value is dipping slightly below the 3-month average, so condos are taking a small breather right now. But a growth rank of 7 out of 37 still puts us in the top tier of Burnaby neighbourhoods. And at $555,000, our condos are holding their own against Willingdon Heights, where the average sold price is $553,333. Basically neck and neck.

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

Here's the thing about city assessments - they're a snapshot from months ago, built on formulas that don't know your renovated kitchen or the fact that the house down the street just sold for a record price. They're backward-looking by design.

The HonestDoor Price is the real-world check. It pulls in current sales data, market movement, and what buyers are actually paying today. For houses in Burnaby Heights, the city's average assessed value is $1,994,161 - but the HonestDoor Price is $1,907,810. That's a $86,351 gap. If you're pricing a listing based on the assessment, you could be starting the conversation in the wrong place entirely.

For condos, the gap is even more dramatic. The average assessed value is $725,670, while the HonestDoor Price is $1,695,412. That's a 133.63% difference. No, that's not a typo. Assessments for condos in this neighbourhood are dramatically out of step with what the market is actually doing. If you're a condo owner and you haven't looked at your HonestDoor Price recently, now is the time.

With 1,729 houses and 555 condos assessed this year across Burnaby Heights, there's a lot of property value in this neighbourhood - and a lot of owners who may be working off numbers that don't reflect today's reality.

The "So What?" - Thinking About Selling This Summer?

Here's the straight talk for anyone considering a move in the next few months.

For house sellers - you're in a decent position. Values are trending up, the predicted market value of $1,954,657 is climbing past the 3-month average, and your growth rank puts you ahead of most Burnaby neighbourhoods. Inventory is low - only 1 sale last month - which means serious buyers aren't drowning in options. That works in your favour. The rental market is also strong at $6,702 per month, so buyers who are on the fence about purchasing versus renting will feel the pull toward buying.

For condo sellers - the short-term trend is softening slightly, with the predicted value dipping below the 3-month average. That doesn't mean panic. It means timing matters a bit more. If you're flexible on when you list, watching the next 30 to 60 days of movement makes sense. The HonestDoor Price is up 3.09% from last period, which shows underlying strength even if the very recent trend has cooled.

For both - check your HonestDoor Price before you do anything else. Not your assessment. Not what your neighbour thinks their place is worth. The HonestDoor Price is the number that reflects what a buyer in today's market is likely to pay. Start there.

• House rental income potential: $6,702 per month
• Condo rental income potential: $5,554 per month
• House Airbnb potential: $333 per night
• Condo Airbnb potential: $276 per night
• Burnaby Heights Airbnb rank: 10th in Burnaby for houses, 5th for condos
• Total transactions in 2026 so far: 4 houses, 1 condo

Bottom line - Burnaby Heights is holding its ground as one of Burnaby's stronger performing neighbourhoods. The market isn't on fire, but it's not retreating either. Know your real numbers, price smart, and you'll be in a solid spot heading into summer.

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.