Capitol Hill, Burnaby - August 2026 Real Estate Report

Capitol Hill, Burnaby: Your Home Is Worth Less Than The City Thinks - Here's The Real Number

If you've been glancing at your latest BC Assessment notice and feeling pretty good about yourself, hold on. The actual market in Capitol Hill right now is telling a slightly different story - and knowing the gap could save you from a costly mistake whether you're buying, selling, or just keeping score.

The Vibe: What's Actually Happening on Our Streets

Houses

We're in a holding pattern. The average HonestDoor Price for a house in Capitol Hill sits at $1,979,118 - down 1.55% from last period and already 1.85% below the city's average assessed value of $2,016,332. That gap matters. The predicted market value for houses is $2,010,322, and it's drifting lower from a 3-month moving average of $2,018,273. Neighbourhood growth is down 0.03% year over year. This market is taking a breather.

• Average HonestDoor Price: $1,979,118
• Average Assessed Value: $2,016,332
• Recent Sale Price Average: $1,655,000
• Price Per Square Foot: $807
• Predicted Market Value: $2,010,322
• Estimated Monthly Rent: $6,844
• Rental Yield: 3.71%
• Properties Assessed: 1,536
• Transactions in 2026: 3

On the neighbourhood leaderboard, our houses rank 14 out of 36 for growth - solidly above average in Burnaby, but not leading the pack. For price, we rank 11 out of 35 - that's above average territory. Nearby, Lochdale houses are predicted at $2,116,843, which puts us a notch below. Westridge comes in cheaper at $1,685,033. We're in the middle of the pack, trending slightly down.

Condos

Here's where things get interesting for us condo owners. The average HonestDoor Price for a Capitol Hill condo is $1,199,220 - and that's 101% higher than the average assessed value of $596,632. That is not a typo. The city's assessment is essentially half of what the HonestDoor Price says your unit is worth. The predicted market value sits at $1,161,447, down from a 3-month moving average of $1,181,301, with a recent change of -1.76%. The condo side is cooling faster than houses right now.

• Average HonestDoor Price: $1,199,220
• Average Assessed Value: $596,632
• Recent Sale Price Average: $508,500
• Price Per Square Foot: $628
• Predicted Market Value: $1,161,447
• Estimated Monthly Rent: $4,138
• Rental Yield: 3.33%
• Properties Assessed: 175

On the condo leaderboard, we rank 15 out of 37 for growth - above average. For price, we rank 20 out of 26 - below average compared to the rest of Burnaby. The condo market here is accessible relative to the city, but values are sliding in the short term.

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

BC Assessment values are a snapshot from July 1st of the prior year. By the time that notice hits your mailbox, the data is already stale. The HonestDoor Price pulls from real-time sales activity and current market signals - it updates continuously, not once a year.

For house owners, the HonestDoor Price is already $37,214 below the assessed value. If you're pricing a listing based on your assessment, you could be starting the conversation in the wrong place entirely. For condo owners, the flip side is true - the HonestDoor Price is dramatically higher than the assessed value, which means the city's number is almost useless as a pricing guide.

The HonestDoor Price is your real-world check. It's what the market is actually willing to pay today - not what a government formula calculated last summer.

The 'So What?': Thinking About Selling This Summer?

Here's the straight talk for Capitol Hill homeowners eyeing a summer sale.

For house sellers - the window is open but it's not wide. With only 3 transactions recorded in 2026 and values drifting down, this is a low-volume market. That means your pricing has to be sharp from day one. Overpricing based on your assessment will cost you time, and time costs money in a softening market. The $1,655,000 average recent sale price is well below both the assessed value and the HonestDoor Price - which tells us the actual deals getting done are happening at a discount. Price with the HonestDoor Price as your anchor, not the assessment.

For condo sellers - the short-term trend is down 1.76% and the predicted value is slipping below the 3-month average. If you've been waiting, the data suggests sooner beats later. Rental demand is solid at $4,138 per month estimated, so buyers looking at income potential will find the numbers reasonable - but they're going to negotiate hard.

One more thing worth knowing - Capitol Hill ranks 7th in Burnaby for Airbnb income potential on houses, with an estimated $340 per month. That's a real selling point for the right buyer. Lead with it.

Bottom line - Capitol Hill is a strong, established neighbourhood holding its own on the Burnaby leaderboard. But right now, the market is asking for realistic pricing and quick decisions. Check your HonestDoor Price at HonestDoor.com before you do anything else.

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.