Second Street, Burnaby - October 2026 Real Estate Report
Second Street, Burnaby: Your Home Is Worth Less Than The City Thinks
The Vibe Right Now
If you have been watching the "For Sale" signs on Second Street lately, here is what is actually happening. The city has your home assessed at one number. The real world is saying something different. And that gap matters - especially if you are thinking about making a move this summer.
Houses: Solid Price Tag, Soft Momentum
Let us be straight with you. Houses on Second Street are not crashing, but they are not charging ahead either. Here is the snapshot:
- Average sale price: $1,612,000
- Price per square foot: $587
- Predicted market value: $1,750,008
- 3-month moving average: $1,767,578 - and values are drifting below it
- Recent price change: -0.43%
- Estimated rent: $6,165 per month
- Rental yield: 3.85%
- Growth rank: 32 out of 36 neighbourhoods in Burnaby
- Price rank: 13 out of 35 - we sit above average on price
That growth rank is the number to pay attention to. On the Burnaby neighbourhood leaderboard, Second Street houses are sitting near the bottom for momentum - 32nd out of 36. We punch above average on price, but the growth engine is idling. Only 1 house sold last month, so we are working with a thin market. Do not read too much into any single sale.
Condos: A Brighter Story
Condos on Second Street are actually holding up better than the houses right now. Values ticked up 3.87% from the previous period, which stands out in a market that is mostly taking a breather.
- Average HonestDoor Price: $1,404,762
- Recent price change: -1.48% (short-term dip, but the trend over the period is still up)
- Predicted market value: $1,352,366
- 3-month moving average: $1,357,369 - values are just below it
- Estimated rent: $4,866 per month
- Rental yield: 2.82%
- Airbnb rank in Burnaby: 7th - strong short-term income potential at $246 per night
- Growth rank: 16 out of 37 - above average on the Burnaby leaderboard
Compare that to nearby Glenbrooke North at $628,521 or Lakeview-Mayfield at $764,825 for condos. Second Street condos are priced at a significant premium over our neighbours. The question is whether that premium holds as values edge lower in the short term.
The Secret Sauce: Why Your HonestDoor Price Matters More Than Your Assessment Right Now
Here is the thing about your city assessment. It is a snapshot from months ago, built on a formula that does not care what happened on your street last week. The average assessed value for houses on Second Street sits at $1,894,626. But the HonestDoor Price - which updates in real time using actual market signals - comes in at $1,828,514. That is a $66,000 gap, and the HonestDoor Price is 3.49% lower than what the city says your home is worth.
That gap is not just a number. If you are pricing a listing based on your assessment, you may be starting the conversation in the wrong place. Buyers doing their homework will find the HonestDoor Price. You should know it first.
For condos, the HonestDoor Price is $1,404,762 - and it has moved up 3.87% recently. That is a live signal. Your tax notice cannot tell you that.
So What Does This Mean If You Want to Sell This Summer?
Honest answer: the timing is not terrible, but it is not a seller's dream either. Here is how to think about it.
- Houses are priced well above the Burnaby average, but growth is near the bottom of the leaderboard. Buyers know this. Price sharp from day one.
- The HonestDoor Price for houses is $66,000 below the city assessment. Use that as your reality check before you set an asking price.
- Condos have more momentum right now. If you own a condo here and have been on the fence, the recent 3.87% bump is worth acting on before the short-term dip deepens.
- Rental demand is real - $6,387 per month estimated for houses and $4,943 for condos. If selling feels rushed, holding and renting is a legitimate play.
- Airbnb potential ranks 18th in Burnaby for houses and 7th for condos. Short-term rental income is a genuine option if you are not in a hurry to sell.
Bottom line: Second Street is a high-value address in Burnaby. But right now the market is asking you to be realistic on price. Know your HonestDoor Price, not just your assessment, and you will walk into any negotiation with the right information.
second street | 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.