Capitol Hill, Burnaby - October 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 your property value, hold on. The actual market is telling a different story right now, and it's one every Capitol Hill homeowner needs to hear before making any moves this summer.
The Vibe: What's Actually Happening on Our Streets
Let's break it down by property type, because houses and condos are living in two very different realities up here on the hill.
Houses
The city says the average Capitol Hill house is worth $2,016,332. The market disagrees. Our average HonestDoor Price sits at $1,951,928 - that's a gap of roughly $64,000 that could catch a seller off guard if they price based on their assessment alone. That HonestDoor Price has also slipped 1.42% from the previous period, so we're not talking about a one-time blip.
- Average HonestDoor Price: $1,951,928
- Average Assessed Value: $2,016,332
- HonestDoor Price is 3.19% below the assessed value
- Recent price change: +0.04%
- Predicted market value: $1,980,004
- 3-month moving average: $1,989,815 (values are drifting down)
- Average sale price: $595,000
- Price per square foot: $843
- Estimated rent: $6,767 per month
- Rental yield: 3.72%
- Airbnb estimate: $333 per night
- Properties assessed: 1,536
- Transactions in 2026: 5
On the neighbourhood leaderboard, Capitol Hill houses rank 30 out of 36 for growth and 28 out of 35 for price in Burnaby. That puts us in the bottom third on both counts. Nearby Parkcrest-Aubrey is fetching $685,000 on average sales versus our $595,000, and Lochdale's predicted value of $2,182,594 is running ahead of ours. We're not in freefall, but we're not leading the pack either.
Condos
This is where things get interesting - and a little complicated. The average condo assessment in Capitol Hill is $596,632, but the HonestDoor Price comes in at $1,125,976. That's 88.72% higher than the assessed value. If you own a condo here, your assessment is almost certainly not reflecting what a buyer would actually pay.
That said, the trend is not our friend right now. The HonestDoor Price has dropped 2.00% from the previous period, and the predicted value of $1,149,003 is sliding below the 3-month moving average of $1,169,890. The recent price change of -4.19% is the number that deserves attention.
- Average HonestDoor Price: $1,125,976
- Average Assessed Value: $596,632
- HonestDoor Price is 88.72% above the assessed value
- Recent price change: -4.19%
- Predicted market value: $1,149,003
- 3-month moving average: $1,169,890 (trending down)
- Average sale price: $508,500
- Price per square foot: $628
- Estimated rent: $4,061 per month
- Rental yield: 3.35%
- Airbnb estimate: $202 per night
- Properties assessed: 175
On the neighbourhood leaderboard, Capitol Hill condos rank 36 out of 37 for growth. That's nearly last place in Burnaby. Price rank is 18 out of 26 - below average. If you own a condo here and you're thinking about selling, the window is not getting wider.
The Secret Sauce: Why Your HonestDoor Price Matters More Right Now Than Your Assessment
BC Assessment values are snapshots frozen in time - they reflect what the market looked like on July 1st of the prior year. By the time that notice hits your mailbox, the data is already stale. In a market that's been shifting month over month, that lag matters a lot.
The HonestDoor Price is updated in real time using actual transaction data, current market signals, and comparable sales happening right now. For Capitol Hill houses, that means the real-world number is about $64,000 lower than what the city has on file. For condos, the assessment is so far off in the other direction that relying on it would leave you completely mispriced.
Think of your assessment as last season's weather forecast. The HonestDoor Price is what it's actually doing outside right now. If you're making a six or seven-figure decision, you want the current reading.
The So What - Should You Sell This Summer?
Here's the straight answer: if you own a house in Capitol Hill and you've been sitting on the fence, the data suggests sooner beats later. Values are drifting down from the 3-month moving average, growth ranks near the bottom of the Burnaby leaderboard, and transaction volume is thin - only 5 sales recorded in 2026 so far. Low volume means less competition for buyers, but it also means fewer data points to anchor your price. A well-priced listing stands out. An overpriced one sits.
If you own a condo, the urgency is higher. A -4.19% recent price change and a near-last-place growth ranking in Burnaby are not signals to wait and see. The rental yield of 3.35% is moderate at best, and the Airbnb upside at $202 per night is not going to move the needle enough to offset a continued slide in value.
For both property types, the move right now is to check your HonestDoor Price, compare it honestly against what similar homes are actually selling for, and make a decision based on today's market - not last July's assessment. The neighbourhood isn't collapsing, but it is taking a breather, and timing still matters.
Want to know exactly where your Capitol Hill property sits today? Pull your HonestDoor Price at HonestDoor.com - it takes about 30 seconds and it's free.
capitol hill | burnaby | october 2026This 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.