Kingsway-Beresford, Burnaby - August 2026 Real Estate Report

Kingsway-Beresford, Burnaby: Your Assessment Says One Thing. The Market Says Another.

If you own a home in Kingsway-Beresford and you have not looked at your HonestDoor Price lately, now is the time. The city's assessment and what buyers are actually paying are telling two very different stories right now - and the gap matters for your wallet.

The Vibe Right Now

Let's be straight with each other. Our neighbourhood is taking a breather. Growth is down 0.05% year over year, and the market is moving carefully, not aggressively. That said, 1,356 properties were assessed here this year, and we ranked number 1 in Burnaby for total transactions in 2026. People are still buying and selling here - just with more patience than a year ago.

Houses: What Is Actually Happening

If you've been watching the "For Sale" signs on the streets around Kingsway, here is what the numbers are telling us. The average HonestDoor Price for a house sits at $1,573,800. That is already 2.29% below the city's average assessed value of $1,610,732 - and it has dipped another 0.76% from the previous period. The market is nudging prices down, not up.

• Average HonestDoor Price: $1,573,800 (down 0.76%)
• Average assessed value: $1,610,732
• Predicted market value: $1,585,893
• 3-month moving average: $1,598,024 (values are trending below this)
• Average sale price this month: $745,400 (down 8.0% from last month)
• Price per square foot: $729
• Properties sold this month: 2
• Estimated rent: $5,722 per month
• Rental yield: 4.15%
• Airbnb estimate: $284 per night
• Growth rank: 25 out of 36 neighbourhoods in Burnaby - below average on the leaderboard
• Price rank: 32 out of 35 - one of the most affordable house markets in Burnaby

That 8% drop in average sale price month over month is the number that should get your attention. Only 2 houses sold this month, so a small sample can swing the average - but the direction of travel is clear. Values are easing. Our predicted market value of $1,585,893 is already running below the 3-month moving average of $1,598,024. The trend line is pointing down, not up.

On the bright side, if you are a landlord or thinking about becoming one, a 4.15% rental yield is a reasonable return in this market. At $5,722 per month in estimated rent, the income story here is more compelling than the appreciation story right now.

Condos: A Surprising Plot Twist

Here is where things get interesting. Condo owners in Kingsway-Beresford are sitting on a number that might genuinely surprise them. The average HonestDoor Price for a condo is $1,013,624 - a full 49.21% higher than the average assessed value of $679,322. That is not a rounding error. That is a significant gap between what the city thinks your unit is worth and what the real-world market is saying.

• Average HonestDoor Price: $1,013,624 (up 2.77%)
• Average assessed value: $679,322
• Predicted market value: $986,291
• 3-month moving average: $1,000,608
• Average sale price: $481,667
• Price per square foot: $715
• Properties sold this month: 3
• Estimated rent: $3,970 per month
• Rental yield: 3.29%
• Airbnb estimate: $200 per night
• Airbnb rank in Burnaby: 13 - a strong short-term rental position
• Growth rank: 26 out of 37 - below average on the leaderboard
• Price rank: 24 out of 26 - among the most affordable condos in Burnaby

The condo HonestDoor Price is up 2.77% from the previous period, which is the one genuinely positive momentum signal in this update. But the predicted value of $986,291 is already slipping below the 3-month moving average of $1,000,608, and the recent value change of -3.02% is worth watching. The short-term direction is soft. The Airbnb rank of 13 in Burnaby is a real asset for condo owners who want to run a short-term rental - that is a top-tier position in the city.

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

Your BC Assessment number is a snapshot from July 1st of last year. It does not know what happened in the market last month. It does not know that house sale prices just dropped 8%. It is a static number built on old data.

The HonestDoor Price is updated in real time using actual transaction data, current market signals, and comparable sales. For houses, it is already showing a value $36,932 below the city's assessment. For condos, it is showing a value $334,302 above the assessment. Both of those gaps are significant - and both of them change how you should be thinking about pricing, selling, or even appealing your property tax.

If you are a condo owner, your assessment almost certainly undervalues your property. If you are a house owner, your assessment may be giving you a rosier picture than the current market supports. Either way, the HonestDoor Price is the real-world check you need before making any decision.

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

Here is the honest take for anyone considering listing in Kingsway-Beresford this summer.

For house sellers - the window is not closed, but it is narrowing. Prices are trending below the 3-month average, the growth rank sits at 25 out of 36 on the Burnaby leaderboard, and only 2 houses traded hands this month. Buyers have options and they know it. If you are serious about selling, pricing sharp from day one will matter more than holding out for a number the market is no longer supporting. Waiting for the next assessment cycle to "catch up" is not a strategy right now.

For condo sellers - the story is more nuanced. Your HonestDoor Price is up 2.77% and sits well above your assessed value. But the predicted value is dipping below the 3-month moving average, and the recent -3.02% change is a caution flag. If you have been thinking about selling, the gap between assessment and market value is working in your favour right now - but that gap can close. Acting sooner rather than later gives you more leverage.

For both - check your HonestDoor Price before you do anything else. It is the most current read on what your home is actually worth in today's market, not last July's market.

How We Stack Up Against the Neighbours

For context, here is how Kingsway-Beresford houses compare to nearby neighbourhoods right now.

• Windsor: HonestDoor Price $1,789,212 - more expensive, growing slightly faster
• Richmond Park: HonestDoor Price $1,689,506 - more expensive, growing slightly slower
• Edmonds: HonestDoor Price $1,642,805 - more expensive, growing slightly faster

We are the most affordable option in this cluster - which is either a buying opportunity or a signal about where the neighbourhood sits in the pecking order, depending on how you look at it. Our predicted house value of $1,585,893 does edge out Richmond Park's $1,572,114, so we are not at the bottom. But the neighbours are outpacing us on growth right now.

Bottom line - Kingsway-Beresford is a solid, established part of Burnaby. The market is not crashing. It is just being realistic. And right now, being realistic with your pricing is the smartest move you can make.

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.