Burnaby Lake, Burnaby - September 2026 Real Estate Report

Burnaby Lake Real Estate: What Your Neighbour Hasn't Told You Yet

The Vibe Right Now

If you've been watching the "For Sale" signs around Burnaby Lake, here's the honest read: the market is taking a breather. Houses are sitting at an average HonestDoor Price of $2,252,162 - up 2.10% from last period, which sounds great on the surface. But dig one layer deeper and the predicted market value for houses sits at $2,205,733, which is actually sliding below the 3-month moving average of $2,228,333. That gap matters. It tells us momentum is softening, not surging.

On the condo side, we're seeing a different story - and not a better one. The average HonestDoor Price for condos is $387,000, down 2.97% from last period. The predicted value of $398,833 is also drifting below its 3-month average of $401,356. The one silver lining? Condo values did tick up 1.14% recently, so there's a small pulse there.

Houses vs. Condos - Breaking It Down

For those of us with houses in Burnaby Lake, here's the leaderboard reality check: our neighbourhood ranks 29 out of 36 in Burnaby for growth. That puts us in the bottom third of the city. It doesn't mean your house isn't worth serious money - $2.2 million is serious money. It just means we're not leading the pack right now.

• Average HonestDoor Price (House): $2,252,162 - up 2.10%
• Predicted Market Value (House): $2,205,733
• 3-Month Moving Average (House): $2,228,333
• Recent Value Change (House): -2.11%
• Estimated Monthly Rent (House): $7,340 - $7,455
• Rental Yield (House): 3.70%
• Airbnb Potential (House): $370 per night - ranked 3rd in Burnaby
• Growth Rank (House): 29 out of 36 in Burnaby

Condos here are a niche product - and the numbers show it. At $387,000 to $398,833, our condos are priced well below what you'd find in nearby Lakeview-Mayfield ($756,438), Money-Buckingham ($672,036), or Government Road ($605,080). That's not a typo. Burnaby Lake condos are a significant discount to the neighbours. Whether that's an opportunity or a red flag depends on why you're buying.

• Average HonestDoor Price (Condo): $387,000 - down 2.97%
• Predicted Market Value (Condo): $398,833
• 3-Month Moving Average (Condo): $401,356
• Recent Value Change (Condo): +1.14%
• Estimated Monthly Rent (Condo): $2,033 - $2,090
• Rental Yield (Condo): 4.04%
• Airbnb Potential (Condo): $102 per night
• Growth Rank (Condo): 20 out of 37 in Burnaby

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 Burnaby Lake, it's moved in ways that a government form won't capture until next January. The HonestDoor Price is updated in real time, pulling in actual sales data as it happens. That means if you're making any financial decision - refinancing, selling, even just benchmarking your net worth - the HonestDoor Price is the number that reflects what a buyer would actually write a cheque for today, not what an assessor estimated 12 months ago.

With houses sitting at $2,252,162 on HonestDoor but showing a -2.11% recent shift, that's a potential $46,000 difference in how you think about your equity. That's not a rounding error. That's a real-world check you need before you make any move.

The "So What?" - Should You Sell This Summer?

If you own a house in Burnaby Lake and you're thinking about listing this summer, the data is giving you a clear message: don't wait for the market to come back to you. With a growth rank of 29 out of 36 and values trending below the 3-month average, the window of peak pricing may already be behind us for this cycle. Selling now, while the HonestDoor Price still sits above $2.2 million, is a stronger position than waiting to see if that -2.11% recent dip reverses.

The one bright spot for houses? That Airbnb rank of 3rd in all of Burnaby is genuinely impressive. If you're not selling, renting short-term at $370 per night is a real income play worth running the numbers on. At $7,455 in estimated monthly rent for long-term, or strong Airbnb upside, this neighbourhood punches above its weight for income - even if the growth rank doesn't.

For condo owners, the picture is more nuanced. You're ranked 20 out of 37 - below average, but not at the bottom. The 4.04% rental yield is actually the stronger number here. If you're an investor holding a Burnaby Lake condo, the rental income story is more compelling than the appreciation story right now. Selling into a market where nearby condos are priced $200,000 to $350,000 higher than yours is a tough pitch to buyers who can comparison shop in seconds.

Bottom line: check your HonestDoor Price today. Know your real number before you call an agent, talk to your bank, or make any decision about your biggest asset.

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.