Capitol Hill, Burnaby - September 2026 Real Estate Report

Capitol Hill, Burnaby: Your Home Is Worth More Than the City Thinks - Or Is It?

If you've been watching the "For Sale" signs on Capitol Hill lately, here's what's actually happening. The market is taking a breather. Values are holding, but the gap between what the city says your home is worth and what a buyer will actually pay is closing fast. That's the story right now, and it matters for your wallet.

The Vibe: Houses vs. Condos

These two property types are telling very different stories in our neighbourhood right now, so let's break them down separately.

Houses

Our houses are sitting at a predicted market value of $1,979,118. That's actually slipping a bit - down from the 3-month moving average of $2,000,253, and recent values have moved by -1.55%. The market isn't falling off a cliff, but it's not climbing either.

• Average assessed value: $2,016,332
• Average HonestDoor Price: $1,980,004
• Average sale price: $1,675,000
• Price per square foot: $1,343
• Estimated monthly rent: $6,767
• Rental yield: 3.73%
• Airbnb potential: $336 per night
• Properties sold in 2026: 4 total transactions

On the neighbourhood leaderboard, our houses rank 19 out of 36 for growth in Burnaby - that puts us in the below-average half of the city right now. On price though, we rank 12 out of 35, which is solidly above average. We're an expensive neighbourhood that's currently growing slower than the pack. That's a useful thing to know before you price a listing.

Condos

Condos are a more interesting story. The predicted market value is $1,199,220, and it's actually moving up - above the 3-month moving average of $1,180,978. Recent growth sits at 3.25%, and on the neighbourhood leaderboard, our condos rank 9 out of 37 for growth in Burnaby. That's above average, and worth paying attention to.

• Average assessed value: $596,632
• Average HonestDoor Price: $1,149,003
• Average sale price: $508,500
• Price per square foot: $628
• Estimated monthly rent: $4,089
• Rental yield: 3.33%
• Airbnb potential: $203 per night

One number jumps out immediately: the HonestDoor Price for condos is 92.58% higher than the average assessed value. That is a massive gap. The city's assessment and the real-world market are not even in the same conversation for Capitol Hill condos right now.

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

Here's the thing about your BC Assessment notice. It reflects a snapshot from July 1st of the previous year. By the time it lands in your mailbox, it's already old news. The market has moved on.

The HonestDoor Price is updated in real time using actual sales data, current market signals, and live comparable properties. It's the real-world check against a static government number.

For house owners on Capitol Hill, the HonestDoor Price of $1,980,004 is already $36,328 lower than the city's assessed value of $2,016,332. If you're pricing a home based on your assessment, you could be starting the conversation in the wrong place. For condo owners, the gap runs the other direction - and it's enormous. An assessed value of $596,632 versus a HonestDoor Price of $1,149,003 means the city is dramatically undervaluing what your unit could actually fetch. Knowing that number before you talk to an agent is a serious advantage.

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

Let's be straight with each other. Capitol Hill is a premium address in Burnaby. We rank 8th in the city for average assessed value on houses, and 7th for Airbnb potential. That's a strong position. But the growth numbers are telling us the easy gains have slowed down for now.

For house sellers, the window is still good, but pricing sharp matters more than it did a year ago. With only 4 transactions recorded in 2026 so far, this is a low-volume market. Fewer sales means less competition for sellers, but it also means buyers have more time to negotiate. Come in priced right from day one.

For condo sellers, the momentum is actually building. Growth ranks 9th out of 37 comparable neighbourhoods in Burnaby, values are trending up, and the HonestDoor Price is well above what the city thinks your unit is worth. If you've been waiting for a signal, this is a reasonable one.

Bottom line - check your HonestDoor Price before you do anything else. It takes two minutes and it gives you a current, data-backed number to anchor your decisions. Your tax assessment is a starting point for a conversation with the city. Your HonestDoor Price is a starting point for a conversation with a buyer. Those are very different conversations.

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.