Second Street, Burnaby - September 2026 Real Estate Report

Second Street, Burnaby: Your Home Is Worth Less Than The City Thinks - Here Is What To Do About It

The Vibe Right Now

If you have been glancing at your latest tax assessment and feeling pretty good about your property value, pump the brakes. The city says the average home in Second Street is worth $1,894,626. The HonestDoor Price tells a different story - $1,828,514. That is a $66,000 gap, and it matters more than most people realize.

Neighbourhood growth is down 0.03% year over year. Not a crash, not a crisis - just the market taking a breather. But with 1,137 properties assessed this year, there is plenty of data to work with. Here is how houses and condos are each playing out.

Houses: A Flash Sale and a Reality Check

The headline number looks exciting - the average sale price for houses hit $1,612,000 last month, up 13.1%. Before you pop the champagne, know this: only 1 house sold. That is down 50% from the month before. One sale does not make a trend. It makes a data point.

The more reliable number to watch is the HonestDoor predicted market value of $1,757,508. That figure is already drifting below the 3-month moving average of $1,776,696, and recent property value change sits at -2.10%. The direction is not up right now.

• Average sale price: $1,612,000 (based on 1 sale)
• Price per square foot: $587
• HonestDoor predicted value: $1,757,508
• 3-month moving average: $1,776,696
• Recent value change: -2.10%
• Estimated monthly rent: $6,169
• Rental yield: 3.85%
• Airbnb income potential: $306 per month
• Neighbourhood leaderboard - Growth rank: 28 out of 36 (below average)
• Neighbourhood leaderboard - Price rank: 15 out of 35 (above average)

The short version: Second Street houses are priced well above most of Burnaby, but growth momentum is lagging behind most of the pack. You own something valuable - it is just not appreciating as fast as other parts of the city right now.

Condos: The Quiet Outperformer

Here is the part of the Second Street story that does not get enough attention. Condos are actually holding up better than houses on the growth side. The HonestDoor Price for condos is $1,352,366, down a modest 1.48% from last period, but the predicted market value of $1,372,727 is creeping above the 3-month moving average of $1,361,687. That is a small but meaningful sign of stability.

Compare that to nearby neighbourhoods and Second Street condos look like a premium product. Glenbrooke North condos average $644,420. Lakeview-Mayfield sits at $756,438. Cariboo-Armstrong comes in at $963,559. We are in a different league here.

• HonestDoor Price: $1,352,366
• Recent value change: +1.91%
• Predicted market value: $1,372,727
• 3-month moving average: $1,361,687
• Estimated monthly rent: $4,880
• Rental yield: 2.82%
• Airbnb income potential: $242 per month
• Airbnb rank in Burnaby: 7th - strong short-term rental appeal
• Neighbourhood leaderboard - Growth rank: 16 out of 37 (above average)

The Secret Sauce: Why Your HonestDoor Price Beats Your Assessment Right Now

Your city assessment was calculated using data from July 1st of last year. A lot has changed since then. The HonestDoor Price pulls from real-time sales, current market signals, and live comparable data. It is not frozen in time the way a government assessment is.

Right now, the HonestDoor Price for houses in Second Street is running 3.49% below the average assessed value in Burnaby. That gap is not just a number - it is the difference between pricing your home right and sitting on the market wondering why nobody is calling. If you are a house owner, your assessment may be giving you a false sense of where buyers are actually willing to land. Check your HonestDoor Price before you set a list price or make any financial decisions tied to your home's value.

For condo owners, the picture is a bit more encouraging - values are ticking up and the growth rank puts us solidly in the top half of Burnaby. Still, the assessment gap is real, and knowing your actual number is always better than guessing.

So What - Should You Sell This Summer?

Here is the honest answer. If you own a house in Second Street and you are thinking about selling this summer, the window is open but it is not wide open. Growth ranks 28 out of 36 neighbourhoods in Burnaby. Predicted values are dipping below the 3-month average. Buyers are paying attention to price per square foot, and at $587, you are not cheap. You need to price sharp and present well.

The rental numbers do give you a fallback. At $6,169 per month estimated rent and a 3.85% yield, holding and renting is a legitimate option if the sale price does not meet your expectations.

If you own a condo, the case for selling is a bit more nuanced. Values are nudging upward, growth is above average for Burnaby, and the Airbnb rank of 7th in the city means short-term rental demand is real. You have options - sell into a market that still values Second Street condos at a significant premium over nearby areas, or hold and let the upward trend do more work.

Either way, the first step is the same. Pull your HonestDoor Price today. Not your assessment. Not a neighbour's guess. The real number - so you can make a real decision.

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.