Burnaby Lake, Burnaby - August 2026 Real Estate Report

Burnaby Lake Real Estate Check-In: Houses Are Holding Strong, Condos Are a Different Story

The Vibe Right Now

If you own a house in Burnaby Lake, you are sitting in a pretty solid spot. If you own a condo here, you need to pay attention - because the numbers are moving in the wrong direction.

Let us break it down by property type so you know exactly where you stand.

Houses: A Small Dip, But the Big Picture Looks Good

The average HonestDoor Price for a house in Burnaby Lake is $2,205,733. That is down 2.11% from the previous period - a breather, not a freefall. The 3-month moving average sits at $2,242,192, and the predicted market value is $2,253,243, which is actually trending upward. So the short-term blip looks like noise against a steadier climb.

Here is the stat that should make house owners feel good: Burnaby Lake houses rank 4 out of 36 neighbourhoods in Burnaby for growth. That puts us in the top tier of the city. Not bad for a neighbourhood that does not always get the headlines.

• Average HonestDoor Price: $2,205,733
• Predicted Market Value: $2,253,243
• 3-Month Moving Average: $2,242,192
• Recent Value Change: +1.22%
• Growth Rank: 4 out of 36 in Burnaby
• Average Rental Estimate: $7,340 per month
• Rental Yield: 3.67%
• Airbnb Estimate: $364 per night - ranked 3rd in Burnaby

That Airbnb rank is worth noting. If you have a suite or are thinking about short-term rental income, Burnaby Lake houses are among the top performers in the entire city for that.

How do we compare to the neighbours? Government Road houses average $2,488,963 - a step up from us. Lakeview-Mayfield comes in at $1,965,595 - cheaper, but not by a massive margin. We sit comfortably in the middle of a strong price band.

Condos: Taking a Real Breather

The condo picture is more honest. The average HonestDoor Price for a condo in Burnaby Lake is $398,833, up 1.14% from the previous period. But the predicted market value has slipped to $394,333, which is below the 3-month moving average of $406,356. Values have shifted -4.03% recently, and the growth rank is 32 out of 37 neighbourhoods in Burnaby. That puts Burnaby Lake condos near the bottom of the city leaderboard right now.

• Average HonestDoor Price: $398,833
• Predicted Market Value: $394,333
• 3-Month Moving Average: $406,356
• Recent Value Change: -4.03%
• Growth Rank: 32 out of 37 in Burnaby
• Average Rental Estimate: $2,090 per month
• Rental Yield: 4.04%
• Airbnb Estimate: $103 per night

One silver lining - the rental yield on condos here is 4.04%, which is a decent return if you are holding as an investment. But if you are thinking about selling, the timing conversation matters more right now than it does for house owners.

Worth knowing: nearby condos in Lakeview-Mayfield average $770,238, Government Road averages $611,460, and Money-Buckingham sits at $669,557. Burnaby Lake condos are priced well below all three. That gap is something buyers notice - and it cuts both ways depending on whether you are buying or selling.

The Secret Sauce - Why Your HonestDoor Price Matters More Than Your Tax Assessment

Here is the thing about your BC Assessment notice: it reflects a snapshot from July 1 of the previous year. By the time it lands in your mailbox, it is already six to twelve months out of date. The market does not wait for paperwork.

The HonestDoor Price is updated in real time using actual sales data, market movement, and neighbourhood-level trends. For Burnaby Lake house owners, that means the difference between a static government number and a live read of what your home is actually worth today - which right now is trending toward $2,253,243 on the predicted value side. That is a meaningful number if you are making any financial decisions based on your home equity.

For condo owners, the HonestDoor Price is equally important - but for a different reason. If your assessment looks rosy but the real-time data shows a -4.03% shift, you want to know that before you price a listing or make a move. Surprises are expensive in real estate.

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

For house owners - the window looks decent. You are in a top-4 growth neighbourhood in Burnaby, rental demand is strong at $7,340 per month, and the predicted value is climbing above the moving average. Summer inventory typically rises, which means more competition. Getting your HonestDoor Price dialed in now, before the market gets crowded, gives you a real edge on pricing strategy.

For condo owners - be honest with yourself about the timing. The data shows softening values and a low growth rank. That does not mean do not sell - it means price it right from day one. Overpricing a condo in a cooling segment is the fastest way to sit on the market through the summer. Use the HonestDoor Price as your anchor, not wishful thinking.

Either way, the smartest move right now is to check your HonestDoor Price, compare it to what you think your home is worth, and have a real conversation about what the numbers are actually telling you.

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.