Burnaby Lake, Burnaby - July 2026 Real Estate Report

Burnaby Lake Real Estate: What Your Neighbours Aren't Telling You

The Vibe Right Now

If you've been watching the "For Sale" signs around Burnaby Lake lately, here's the honest read: it's a split market. Houses are holding their ground. Condos are taking a breather. The two stories are very different, and which one applies to you matters a lot heading into summer.

Houses - Holding Steady at the Top

The average HonestDoor Price for a house in Burnaby Lake sits at $2,253,243 - up 1.22% from the previous period. That's not a fireworks show, but in a market where plenty of neighbourhoods are sliding, holding value and ticking upward is genuinely good news. The 3-month moving average is $2,198,540, and the current predicted value of $2,226,024 is tracking above that. The trend line is pointing in the right direction.

On the leaderboard, houses here rank 22 out of 36 comparable Burnaby neighbourhoods for growth. That puts us in the middle of the pack - not leading the charge, but not falling behind either. Think of it as a steady hand in an unsteady market.

• Average HonestDoor Price: $2,253,243
• Recent price change: +1.22%
• Predicted market value: $2,226,024
• 3-month moving average: $2,198,540
• Average rental estimate: $7,470 per month
• Rental yield: 3.67%
• Airbnb estimate: $371 per night - ranked 3rd in Burnaby
• Growth rank: 22 out of 36 Burnaby neighbourhoods

That Airbnb rank of 3rd in all of Burnaby is worth a second look. If you have a suite or are thinking about short-term rental income, Burnaby Lake houses are among the most attractive in the city for that play.

For context, our closest neighbour Lakeview-Mayfield is priced lower at $2,004,108, while Government Road comes in higher at $2,511,545. We sit comfortably in the middle of that range.

Condos - Taking a Breather

We'll be straight with you: the condo picture is softer. The average HonestDoor Price is $394,333, down 4.03% from the previous period. The predicted market value of $410,900 is actually sitting above that average and above the 3-month moving average of $408,367, which suggests the recent dip may not be the full story - but it's still a number to watch.

On the neighbourhood leaderboard, Burnaby Lake condos rank 31 out of 37 Burnaby neighbourhoods for growth. That puts us near the bottom of the pack right now. And here's something that stands out: nearby neighbourhoods like Lakeview-Mayfield ($768,175), Government Road ($621,980), and Money-Buckingham ($670,264) are all priced significantly higher for condos. That gap is large enough to raise questions about what's driving the difference.

• Average HonestDoor Price: $394,333
• Recent price change: -4.03%
• Predicted market value: $410,900
• 3-month moving average: $408,367
• Average rental estimate: $2,067 per month
• Rental yield: 4.01%
• Airbnb estimate: $103 per night
• Growth rank: 31 out of 37 Burnaby neighbourhoods

The 4.01% rental yield is the silver lining here. If you're holding a condo as an investment, the income side of the equation is still working reasonably well even if the price appreciation isn't.

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

Here's the thing most homeowners don't realize: your BC Assessment number is a snapshot from July 1st of the previous year. It's already stale the moment you read it. The market doesn't wait for the government to catch up.

The HonestDoor Price is updated in real time using current sales data, market trends, and neighbourhood comparables. For a Burnaby Lake house owner, that's the difference between knowing your home is worth $2,253,243 today versus relying on a number that could be 12 to 18 months out of date. In a market that moved 1.22% just in the last period alone, that gap is real money.

If you're making any decision - selling, refinancing, or just figuring out where you stand - the HonestDoor Price is the number to start with. It's your real-world check against a static government estimate.

The So What - Thinking About Selling This Summer?

If you own a house in Burnaby Lake, this summer is not a bad window. Values are up slightly, the Airbnb appeal of the area gives you a strong story to tell buyers who want income potential, and you're priced attractively compared to Government Road without being at the bottom of the market. Buyers looking in this price range are serious. You're not competing with a flood of inventory.

If you own a condo, the honest advice is to go in with clear eyes. The recent 4.03% dip and the below-average growth rank mean you're not holding all the cards right now. That doesn't mean don't sell - it means price it right from day one. Overpricing a softening condo market is the fastest way to sit on the market and end up cutting the price anyway.

Either way, pull your HonestDoor Price before you have a single conversation with an agent. Know your number. Then negotiate from there.

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.