Garden Village, Burnaby - July 2026 Real Estate Report

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

If you've been watching the "For Sale" signs in Garden Village and wondering what's actually going on with prices, here's the straight answer: it depends on what you own. Houses and condos are telling two very different stories right now, and your city assessment is not keeping up with either of them.

The Vibe: Houses vs. Condos

Let's start with houses, because that's where we hold the stronger hand.

The average HonestDoor Price for a house in Garden Village sits at $1,815,153. That's actually $39,819 below the city's average assessed value of $1,854,972. The predicted market value for houses is $1,818,906, which is creeping up from the 3-month moving average of $1,808,627 - a small but real sign of stability. Average sale prices are around $1,568,000, and price per square foot is running at $1,252. Only 1 house sold recently, but that's not unusual for a neighbourhood where homes don't change hands often.

• House HonestDoor Price: $1,815,153 (down 0.21% from last period)
• Average assessed value: $1,854,972
• Predicted market value: $1,818,906
• Average sale price: $1,568,000 at $1,252 per sq ft
• Estimated rent: $6,340 per month
• Rental yield: 3.92%
• Airbnb potential: $315 per night - ranked 14th in Burnaby
• Neighbourhood leaderboard - growth rank: 18 out of 36 (above average)
• Price rank: 15 out of 34 (above average in Burnaby)

Now for condos - and we need to be honest here. Condo values in Garden Village are under more pressure. The HonestDoor Price for condos is $612,788, which is actually 5.87% above the average assessed value of $578,824 - so the city is undervaluing them. But the trend is moving the wrong way. Values are down 1.54% recently, the predicted market value of $623,542 is slipping below the 3-month average of $624,496, and the growth rank sits at 33 out of 37 neighbourhoods in Burnaby. That puts us near the bottom of the leaderboard for condo growth right now.

• Condo HonestDoor Price: $612,788 (down 1.72% from last period)
• Average assessed value: $578,824
• Predicted market value: $623,542
• Average sale price: $520,500 at $588 per sq ft
• Estimated rent: $2,904 per month
• Rental yield: 3.69%
• Airbnb potential: $144 per night
• Neighbourhood leaderboard - growth rank: 33 out of 37 (bottom performers)
• Price rank: 20 out of 26 (below average in Burnaby)

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

Here's the thing about your BC Assessment notice. It reflects a snapshot from July 1st of the previous year. It does not know what happened to the market last month, last week, or yesterday. The HonestDoor Price is updated in real time using actual sales data, current market signals, and what buyers are genuinely paying right now.

For house owners in Garden Village, that gap is significant. The city says your home is worth $1,854,972 on average. The HonestDoor Price says $1,815,153. That $39,819 difference is not just a number - it's the difference between pricing your home right and sitting on the market too long because you anchored to an outdated figure.

For condo owners, the picture flips. Your assessment at $578,824 is actually lower than what the market currently supports at $612,788. If you're making any financial decisions - refinancing, selling, or just figuring out your net worth - using the assessment alone means you're leaving real value on the table.

1,705 houses and 927 condos were assessed in Garden Village this year. That's a lot of neighbours who may be looking at the wrong number.

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

If you own a house in Garden Village and you're thinking about listing this summer, the timing is not bad - but it's not a slam dunk either. Values are holding, the predicted price is nudging upward, and you're sitting in an above-average position on Burnaby's price leaderboard at 15th out of 34. The rental market is also strong at $6,340 per month, which gives you options if you want to test the waters before committing to a sale.

The catch: neighbourhood growth is essentially flat at -0.04% year over year. The market is taking a breather. You're not in a rush, but waiting for a big price surge may not be the right play either.

If you own a condo, the calculus is tougher. With values down 1.54% recently and a growth rank near the bottom of the Burnaby leaderboard, this is not the moment to expect a bidding war. That said, your HonestDoor Price of $612,788 is still well above what the city assessed you at. A well-priced listing - using the real-time HonestDoor number, not the assessment - gives you the best shot at finding a serious buyer before the summer window closes.

Bottom line: check your HonestDoor Price before you do anything else. It's the real-world number - not the government's year-old guess.

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.