Burnside, Victoria - August 2026 Real Estate Report

Burnside Real Estate Check-In: Your Home Is Worth More Than the City Thinks

If you own a home in Burnside and you haven't looked at your HonestDoor Price lately, now is the time. The city's assessment is one number. What your property is actually worth in today's market is a very different story.

The Vibe: What's Happening on Our Streets Right Now

Burnside is a neighbourhood that doesn't make a lot of noise, but the numbers are worth paying attention to. We've got two different stories playing out depending on whether you own a house or a condo - and both are worth understanding before you make any moves.

Houses: Steady, But Taking Its Time

If you've been watching the "For Sale" signs in Burnside, here's what's actually happening with houses right now. The market is stable, but it's taking a breather.

• Average sale price: $742,000 - essentially flat from last month
• Active listings averaging: $746,300
• Price per square foot: $803
• Homes are selling at 99.38% of list price - buyers are getting a slight edge
• Average days on market: 47 days
• 3 houses sold in the most recent period
• Predicted market value: $1,150,188 - up from the 3-month average of $1,144,849
• Estimated rent: $4,405 per month with a 4.69% rental yield

Forty-seven days on market is longer than what we're seeing in Victoria West (42 days) and Hillside Quadra (40 days). That tells us buyers have a bit more breathing room here right now. It's not a fire sale situation - homes are still moving close to asking price - but sellers need to price sharp and present well. The predicted value of $1,150,188 is trending upward, which is a good sign heading into summer.

On the neighbourhood leaderboard, Burnside houses rank 6 out of 14 for growth - solidly above average in Victoria. Price ranks 11 out of 13, which means we're one of the more affordable options in the city. For buyers, that's an opportunity. For sellers, it means pricing strategy matters more than ever.

Condos: A Surprise Story

The condo side of Burnside is doing something interesting. Sales prices jumped 19% from last month to an average of $475,000. Only one unit sold, so take that spike with some context - but the direction is positive.

• Average sale price: $475,000 - up 19% from last month
• Active listings averaging: $484,500
• Price per square foot: $519
• Properties sold at 98.04% of list price
• Average days on market: 32 days
• 1 condo sold in the most recent period
• Predicted market value: $1,286,180
• Estimated rent: $4,157 per month with a 3.38% rental yield

Thirty-two days on market is faster than both Victoria West (42 days) and Hillside Quadra (40 days). That's a real signal - when our condos are moving faster than the neighbours, demand is there. On the leaderboard, Burnside condos rank 4 out of 14 for growth. That puts us near the top of the pack in Victoria. Days-on-market ranks 5 out of 14, meaning we're selling at a moderately fast clip compared to the rest of the city.

The Secret Sauce: Why Your HonestDoor Price Is the Number That Actually Matters

Here's the thing about your city tax assessment - it's a snapshot from the past. It doesn't know what happened in the market last month, last quarter, or even last year in real time. It's a static number set by a government process that moves slowly.

Your HonestDoor Price is the real-world check against that outdated figure. And in Burnside, the gap is significant.

• Average assessed value for houses: $970,012
• Average HonestDoor Price for houses: $1,121,230 - that's 15.59% higher than the assessed value
• Average assessed value for condos: $525,738
• Average HonestDoor Price for condos: $1,276,965 - that's 142.89% higher than the assessed value

That condo number is not a typo. The average condo assessment in Burnside is sitting at $525,738, but the HonestDoor Price says the real-world value is $1,276,965. If you're a condo owner making decisions based on your assessment notice, you are working with a number that is dramatically out of step with reality. Check your HonestDoor Price. It updates continuously based on actual market activity - not a once-a-year government estimate.

Yes, both the house and condo HonestDoor Prices have dipped slightly from the previous period - down 2.52% and 0.72% respectively. That's worth noting. But even with that small pullback, the gap between assessed value and real market value remains enormous.

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

Summer is historically when more buyers are active in Victoria. If you're thinking about listing in Burnside, here's the honest take.

For house owners - you have a predicted value of $1,150,188 that is trending upward. Your neighbourhood growth ranks above average in the city. But homes are sitting on the market longer than nearby areas, which means your list price needs to be realistic from day one. Overpricing and then chasing the market down is the worst outcome. Price it right, and the data says buyers will get close to asking.

For condo owners - the story is actually encouraging. Faster days on market than your neighbours, a growth rank of 4 out of 14 in Victoria, and a HonestDoor Price that is dramatically higher than what the city assessed you at. If you've been sitting on a condo and wondering whether now is a good time, the demand signals are pointing in your favour.

For both - neighbourhood growth in Burnside is modest at 0.05% year over year for houses and slightly negative at -0.01% for condos. This isn't a market that's running hot. It's a market that rewards smart, well-priced listings. Know your real number before you call an agent. That starts with your HonestDoor Price.

• Burnside has 502 assessed house properties and 1,061 assessed condo properties this year
• 6 house transactions and 13 condo transactions recorded in 2026
• Airbnb potential: $215 per night for houses, $205 per night for condos
• Burnside ranks 13th in Victoria for Airbnb potential on houses and 12th for condos
• Compared to neighbours - Saanich Core is pricier for houses, Victoria West and Hillside Quadra are cheaper

Bottom line - Burnside is a solid, stable part of Victoria's market. It's not flashy, but it holds value. If you own here, your property is almost certainly worth more than your assessment says. Check your HonestDoor Price at HonestDoor.com and go into any selling conversation with the real number in your hand.

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.