Burnaby Lake, Burnaby - October 2026 Real Estate Report
Burnaby Lake Real Estate: What Your Neighbour's House Is Actually Worth Right Now
The Vibe Right Now
If you own a house in Burnaby Lake, you're sitting on serious equity. The average HonestDoor Price for houses here is $2,236,023. Yes, that number dipped a slight 0.72% from last period - but before you worry, zoom out. The 3-month predicted value sits at $2,252,162, which is actually climbing above the $2,237,046 moving average. That's the market catching its breath, not falling apart.
Condos tell a different story. The average HonestDoor Price for a condo here is $390,000, up 0.78% recently. But the 3-month trend is softening - the predicted value has slipped to $387,000 against a moving average of $393,389, and growth ranks 29 out of 37 comparable Burnaby neighbourhoods. Below average territory. If you own a condo here, that's worth paying attention to.
Houses vs. Condos - Breaking It Down for Us
Here's the honest split for Burnaby Lake right now:
- House average HonestDoor Price: $2,236,023 (down 0.72% short-term, but 3-month trend is rising)
- House rental estimate: $7,422 per month
- House rental yield: 3.68% - solid, moderate returns
- House Airbnb potential: $369 per night - ranked 3rd in all of Burnaby for short-term rental income
- House growth rank: 11 out of 36 Burnaby neighbourhoods - above average on the leaderboard
- Condo average HonestDoor Price: $390,000 (up 0.78% short-term, but 3-month trend softening)
- Condo rental estimate: $2,047 per month
- Condo rental yield: 4.06% - slightly better yield than houses, relatively speaking
- Condo Airbnb potential: $102 per night
- Condo growth rank: 29 out of 37 Burnaby neighbourhoods - below average on the leaderboard
For house owners, that Airbnb rank of 3rd in Burnaby is a big deal. If you have a suite or extra space, Burnaby Lake is one of the best spots in the city to earn short-term rental income. That's not a small thing when you're doing the math on your property.
Compared to neighbours, Government Road houses are priced higher at $2,539,882 with rentals at $8,173. Lakeview-Mayfield comes in much cheaper at $992,933. We're sitting comfortably in the premium tier without being the most expensive street on the block.
The Secret Sauce - Why Your HonestDoor Price Matters More Than Your Tax Assessment
Here's the thing about your BC Assessment notice: it's a snapshot from July 1st of last year. The market has moved since then - and in a neighbourhood like Burnaby Lake where house values are hovering above $2.2 million, even a 1% shift is over $22,000. Your tax assessment won't show you that.
The HonestDoor Price updates in real time using actual sales data, market trends, and neighbourhood comparisons. It's the number a buyer's agent is going to be working with when they sit across the table from you. Knowing your HonestDoor Price now means you're not walking into a negotiation with last year's homework.
For condo owners especially - with the 3-month trend dipping and a below-average growth rank - checking your HonestDoor Price regularly right now is how you stay ahead of the curve instead of behind it.
The So What - Thinking About Selling This Summer?
If you own a house in Burnaby Lake and you've been on the fence about listing, the data is nudging you toward action. The 3-month predicted value is trending up, the neighbourhood ranks 11th out of 36 in Burnaby for growth, and your short-term rental appeal is top 3 in the city - which is a selling point you can put in the listing. Summer inventory tends to rise, which means more competition. Getting ahead of that wave makes sense.
If you own a condo here, the picture is more cautious. Values are softening on the 3-month trend and the growth rank of 29 out of 37 puts you in the lower half of Burnaby neighbourhoods right now. That doesn't mean don't sell - it means price it sharp and don't wait for the market to come back to you. Nearby condos in Lakeview-Mayfield, Government Road, and Money-Buckingham are all priced significantly higher, which tells you buyers have options in this area.
Bottom line: house owners in Burnaby Lake are in a strong spot heading into summer. Condo owners should move with more urgency. Either way, check your HonestDoor Price first - it's the real-world number, not the government's best guess from 12 months ago.
burnaby lake | burnaby | october 2026This 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.