Burnaby Mountain, Burnaby - August 2026 Real Estate Report

Burnaby Mountain Real Estate: What Your Neighbour Isn't Telling You

If you've been watching the "For Sale" signs around Burnaby Mountain and wondering what's actually going on with prices, here's the straight story. The market here is taking a breather - but the details matter a lot depending on whether you own a house or a condo.

The Vibe: Houses vs. Condos

Houses

We're sitting in a quieter spot on the Burnaby leaderboard right now. House growth ranks 29 out of 36 neighbourhoods - that puts us in the bottom tier for price momentum. But here's the thing: the average HonestDoor Price for houses is $1,153,388, and that's sitting 10.33% above the city's assessed value of $1,045,445. The city's number is stale. The HonestDoor number is what the market is actually saying your home is worth today.

• Average HonestDoor Price (Houses): $1,153,388
• Average Assessed Value: $1,045,445
• Recent average sale price: $777,500
• Price per square foot: $616
• Predicted market value: $1,170,689
• Estimated monthly rent: $4,549
• Rental yield: 4.67%
• Recent value change: -0.80%
• Properties sold in 2026: 2

Two sales is a thin number. Low transaction volume means each sale swings the averages hard. The predicted value of $1,170,689 is nudging above the 3-month moving average of $1,168,332 - a small but positive signal that house values haven't fallen off a cliff. Price rank sits at 31 out of 35, which makes Burnaby Mountain one of the more affordable house markets in Burnaby. For buyers, that's actually interesting. For sellers, it means pricing sharp matters more than ever.

Condos

Our condo market is sending a clearer warning signal. The average sale price dropped 4.3% last month to $487,450, and sales volume fell 50% - from 4 to 2 transactions. That kind of drop in activity is worth paying attention to. The HonestDoor Price for condos sits at $549,950, which is actually 8.66% below the city's assessed value of $602,112. That gap tells us the assessment is running hot compared to where buyers are actually transacting.

• Average HonestDoor Price (Condos): $549,950
• Average Assessed Value: $602,112
• Recent average sale price: $487,450
• Price per square foot: $622
• Predicted market value: $550,019
• Estimated monthly rent: $2,717
• Rental yield: 3.74%
• Recent value change: -3.26%
• Properties sold in 2026: 24

The predicted condo value of $550,019 is sliding below the 3-month moving average of $561,099. That's a downward trend, not a blip. Growth ranks 28 out of 37 neighbourhoods - below average. Nearby Lyndhurst condos are pricing much higher at $957,390, and even Harbour Heights is coming in at $635,705. We're on the affordable end of the local condo spectrum, which cuts both ways depending on your situation.

The Secret Sauce: Why Your HonestDoor Price Matters Right Now

Here's the thing about your city assessment - it's a snapshot from months ago, built on formulas that don't know your renovated kitchen or the new SkyTrain buzz in the area. The HonestDoor Price is updated in real time using actual market signals. For Burnaby Mountain house owners, that means your home is likely worth $107,000 more than the city thinks. For condo owners, it's the opposite - the city may be overvaluing your unit by roughly $52,000, which has real implications if you're using that number to make financial decisions.

Don't wait for your next tax notice to find out where you actually stand. Check your HonestDoor Price now - it's the real-world check that reflects what a buyer would actually pay today, not what a government formula calculated last year.

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

If you own a house in Burnaby Mountain and you're thinking about listing this summer, the window is real but the margin for error is slim. With only 2 house sales on record in 2026 so far, there isn't a deep pool of comparable sales to anchor your price. That works in your favour if you price strategically - but overpricing in a low-volume market will leave you sitting. Your HonestDoor Price of $1,153,388 is your starting point for that conversation with your agent, not the assessed value.

For condo owners, the honest answer is that summer 2025 is a tougher sell. Values are down 3.26% recently, sales volume dropped sharply, and the predicted value is trending below its own 3-month average. That doesn't mean don't sell - it means go in with clear eyes. If you need to move, price it to compete. If you can wait, watching the next 60 to 90 days of data makes sense before committing.

Either way, the smartest move right now is knowing your actual number - not the city's number, not a neighbour's guess. Pull your HonestDoor Price, compare it against what's selling nearby, and make the call from a position of real information.

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.