Burnside, Victoria - June 2026 Real Estate Report

Burnside Real Estate Update: Your House Is Worth More Than the City Thinks

If you own a home in Burnside and you have not checked your property value lately, here is the short version: the city's assessment is not keeping up. Not even close. Here is what is actually happening on the ground right now.

The Vibe: Houses vs. Condos in Burnside

Houses - Holding Strong at the Top

We are sitting in a good spot if you own a house here. The average sale price is $1,075,000 and homes are moving in about 12 days. That is not a market taking a long nap. Buyers are paying 97.74% of list price, which means sellers are getting close to what they ask - but buyers do have a little room to negotiate.

• Average sale price: $1,075,000
• Average list price this month: $1,099,900
• Price per square foot: $1,277
• Average days on market: 12
• Sale-to-list ratio: 97.74%
• Predicted market value: $1,132,027
• Estimated monthly rent: $4,364
• Rental yield: 4.72%
• Recent value change: up 0.77%
• Growth rank in Victoria: 1 out of 14 neighbourhoods

That last number is worth repeating. Out of 14 comparable neighbourhoods in Victoria, Burnside houses rank number one for growth right now. Hillside Quadra sells a bit faster at 10 days, but we are beating them - and everyone else - on momentum. Victoria West and Hillside Quadra are both cheaper. Saanich Core is slightly pricier but actually growing slower than us. That is a strong position to be in.

Condos - A More Complicated Picture

The condo side of Burnside is a different story, and we should be honest about it. Three condos sold recently, sitting on the market for an average of 40 days. That is longer than Victoria West at 37 days, and the growth rate has dipped 1.71% recently. Out of 14 comparable neighbourhoods, condo growth here ranks 13th. That is a market taking a breather - buyers know it, and pricing needs to reflect that.

• Average sale price: $743,333
• Average list price this month: $440,950
• Price per square foot: $672
• Average days on market: 40
• Sale-to-list ratio: 96.31%
• Predicted market value: $1,309,521
• Estimated monthly rent: $4,176
• Rental yield: 3.38%
• Recent value change: -1.71%
• Growth rank in Victoria: 13 out of 14 neighbourhoods

One thing worth noting: the predicted market value of $1,309,521 is still well above Victoria West condos at $1,072,490. So even in a softer stretch, Burnside condos are not cheap. If you are a condo owner thinking about renting instead of selling, that $4,176 monthly rent estimate and a 3.38% yield is a reasonable fallback plan.

The Secret Sauce: Why Your HonestDoor Price Matters More Than Your Tax Assessment Right Now

Here is the thing about government assessments - they are a snapshot from months ago, built on formulas that do not know your renovated kitchen or your corner lot. The city assessed the average Burnside house at $970,012. The average HonestDoor Price is $1,152,332. That is an $182,320 gap. Your home is likely worth 18.80% more than what the city says on paper.

For condos, the gap is even more dramatic. The average assessed value is $525,738. The average HonestDoor Price is $1,279,900. That is a 143.45% difference. If you are making any financial decision - refinancing, selling, estate planning, or just figuring out your net worth - using the city's number is like navigating with an old map.

The HonestDoor Price updates in real time using actual sales data from your neighbourhood. It is the real-world check against a static number that gets printed once a year and then sits there doing nothing useful for you.

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

If you own a house in Burnside and you are thinking about listing this summer, the timing is not bad. Here is the honest breakdown:

• You are in the number one growth neighbourhood for houses in Victoria right now - that is a real selling point
• Homes are selling in 12 days on average, which means serious buyers are out there
• Buyers are paying close to list price, so do not underprice yourself trying to spark a bidding war - price it right the first time
• The predicted value of $1,132,027 is slightly down from the 3-month average of $1,143,033 - not a cliff, but a signal to move sooner rather than later if you are on the fence
• Only 2 house transactions happened in Burnside so far in 2026 - low inventory means less competition for sellers

If you own a condo, be realistic. The market is softer, days on market are climbing, and growth is near the bottom of the Victoria leaderboard right now. That does not mean you cannot sell - it means you need to price sharp and present well. A condo sitting at $440,950 listed while others have sold at $743,333 tells you the market is uneven. Know your specific unit's HonestDoor Price before you pick a number.

Bottom line: Burnside is one of the stronger house markets in Victoria right now. If you have been waiting for a sign to check what your place is actually worth - this is it. Pull your HonestDoor Price and compare it to what the city thinks you own. The difference might surprise you.

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.