Burnaby Heights, Burnaby - September 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've been glancing at your BC Assessment notice feeling pretty good about yourself, hold on. The real numbers tell a more complicated story - and knowing the difference could be worth tens of thousands of dollars to you right now.

The Vibe: What's Actually Happening on Our Streets

Let's be straight with each other. The market in Burnaby Heights is taking a breather. Across all property types, we're seeing values ease off their peaks, transaction volumes are thin, and growth is sitting near the bottom of the Burnaby leaderboard. That doesn't mean panic - it means pay attention.

Houses: Still Expensive, But Softening

If you own a house here, you're sitting on one of the pricier assets in Burnaby. That's the good news. The harder news is that momentum has shifted.

• Average assessed value: $1,994,161
• HonestDoor Price: $1,904,228 - that's $89,933 BELOW the city's assessment
• Average sale price: $1,833,000
• Price per square foot: $1,292
• Predicted market value: $1,907,810
• 3-month moving average: $1,931,276 - and we're trending below it
• Recent value change: -2.40%
• Rental estimate: $6,578 per month
• Rental yield: 3.80%
• Properties sold in 2026: 1
• Growth rank: 31 out of 36 neighbourhoods in Burnaby
• Price rank: 6 out of 35 - still among the most expensive

That growth rank is the number we need to talk about. Sitting 31st out of 36 on the Burnaby neighbourhood leaderboard means most of our neighbours are outpacing us right now. Capitol Hill next door is growing faster. Willingdon Heights is growing faster. Even Maplewood, which is priced well below us, is growing faster. We're holding value because of our price point, not because of momentum.

Condos: A Weird Bright Spot With a Big Asterisk

Condos in Burnaby Heights are a genuinely strange case - and worth a close look if you own one.

• Average assessed value: $725,670
• HonestDoor Price: $1,663,736 - that's 129% ABOVE the city's assessment
• Average sale price: $416,500
• Price per square foot: $665
• Predicted market value: $1,695,412
• 3-month moving average: $1,666,674 - and we're trending above it
• Recent value change: +3.09%
• Rental estimate: $5,599 per month
• Rental yield: 2.67%
• Properties sold in 2026: 2
• Growth rank: 12 out of 37 neighbourhoods in Burnaby
• Price rank: 24 out of 26 - among the most affordable in Burnaby

The condo side is actually showing some life. Values are up 3.09% recently, the predicted value is climbing above the 3-month average, and a growth rank of 12th out of 37 puts us solidly above average on the Burnaby leaderboard. The Airbnb rank of 5th in all of Burnaby is also worth noting for anyone thinking about short-term rental income at around $276 per night.

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

Here's the thing about BC Assessment. That number was calculated using data from July 1st of the previous year. It doesn't know what happened to the market last month. It doesn't know that house values in Burnaby Heights have slipped 2.40% recently. It doesn't update when the Bank of Canada moves rates.

Your HonestDoor Price does. It pulls from real transaction data, current market signals, and live comparable sales. For houses here, that means the HonestDoor Price is already showing a gap of nearly $90,000 below the assessed value. If you're pricing a home based on your assessment, you could be setting yourself up for a long, frustrating listing with no offers.

For condo owners, the story flips completely. The HonestDoor Price is sitting 129% above the city's assessed value. That's not a typo. The assessment is dramatically underrepresenting what condos here are actually worth in the real world. If you're making any financial decision - refinancing, selling, estate planning - based on that $725,670 number, you're working with the wrong information.

Check your HonestDoor Price before you do anything else. It's the real-world check that the city's static assessment simply cannot give you.

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

If you're a house owner in Burnaby Heights and you're thinking about listing this summer, here is the honest take. You own a top-6 most expensive property type in Burnaby - that's real. But you're in a market that is ranked 31st out of 36 for growth, values are trending below the 3-month average, and only 1 house sold in the neighbourhood so far in 2026. That is a thin, slow market.

That doesn't mean don't sell. It means price it right from day one. Overpricing based on your assessment in a slow market is the fastest way to sit on a listing all summer. Your HonestDoor Price of $1,904,228 is a much more honest starting point for that conversation with your agent.

If you own a condo and you're thinking about selling, the picture is a bit brighter. Values are moving in the right direction, growth is above average for Burnaby, and the HonestDoor Price is climbing. Summer 2025 could be a reasonable window - but with only 2 sales recorded so far in 2026, you still need to be realistic about how long it might take to find your buyer.

Either way, the move right now is simple. Get your HonestDoor Price, compare it to your assessment, and know exactly where you actually stand before you make any decisions.

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.