Spening-Broadway, Burnaby - August 2026 Real Estate Report

Spening-Broadway, Burnaby: Your Neighbour Just Got a Reality Check on Their Home Value

If you own in Spening-Broadway and you're still quoting your BC Assessment number at dinner parties, it's time for an update. The market has moved, and the gap between what the government thinks your home is worth and what a buyer would actually pay is wider than you'd expect - especially if you own a condo.

The Vibe: Houses vs. Condos - Two Very Different Stories

We're living in a split market right now, and it matters which type of property you own here.

Houses

For those of us on the house side, things are holding steady. The average HonestDoor Price for a house in Spening-Broadway sits at $1,705,987. That's down 1.59% from the previous period and sits just 0.79% below the average assessed value - so the gap is small, but it's there. The city's assessment says $1,719,654. The real-world number is a touch lower.

The forward-looking predicted market value is actually a bit more optimistic at $1,734,368, which is trending up from the 3-month moving average of $1,729,805. So while the recent period dipped slightly, the short-term direction is pointing upward. Property values have nudged up 0.42% recently.

• Average HonestDoor Price: $1,705,987
• Predicted Market Value: $1,734,368
• Average Assessed Value: $1,719,654
• Average Sale Price: $648,000
• Price Per Square Foot: $551
• Estimated Monthly Rent: $6,107
• Rental Yield: 4.05%
• Airbnb Estimate: $299 per night
• Growth Rank: 9 out of 36 neighbourhoods in Burnaby - above average
• Price Rank: 33 out of 35 - among the most affordable houses in Burnaby

That price rank is worth a second look. We are one of the most affordable house markets in Burnaby, yet our growth rank puts us in the top quarter of the city. That combination - affordable entry point with above-average momentum - is exactly what buyers are hunting for right now. For comparison, houses in Lake City are selling for around $700,000, slightly above our $648,000 average sale price.

Condos

This is where it gets interesting - and a little complicated. The average condo assessed value in Spening-Broadway is $555,354. The average HonestDoor Price? $963,678. That is a 73.52% premium over the assessed value. Let that sink in. The government's number is not even close to what the market says these units are worth.

The predicted market value comes in at $959,845, up from the 3-month moving average of $958,603. But the recent change figure is -2.82%, and the growth rank is 25 out of 37 neighbourhoods - below average. So condos here are high-value but losing a bit of steam right now.

• Average HonestDoor Price: $963,678
• Predicted Market Value: $959,845
• Average Assessed Value: $555,354
• Average Sale Price: $410,000
• Price Per Square Foot: $597
• Estimated Monthly Rent: $3,475
• Rental Yield: 3.57%
• Airbnb Estimate: $169 per night
• Growth Rank: 25 out of 37 neighbourhoods in Burnaby - below average
• Price Rank: 26 out of 26 - most affordable condo market in Burnaby

Nearby, Ardingley-Sproff condos have a HonestDoor Price of $761,747 with a growth rate of -0.02% - cheaper and growing faster. Government Road and Lake City condos are sitting around $610,000 to $612,000. Our condos are priced well above the neighbours, which means sellers here have a real advantage - but buyers are paying attention to that gap.

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

Here is the honest truth about BC Assessments: they are a snapshot from July 1st of the previous year. By the time that paper lands in your mailbox, the data is already stale. The market does not wait for the government to catch up.

The HonestDoor Price is updated in real time using actual transaction data, market trends, and comparable sales. For condo owners in Spening-Broadway, that difference is not a rounding error - it is a $408,324 gap between what the assessment says and what HonestDoor says. If you are making any financial decision - refinancing, selling, even just understanding your net worth - using the assessment number alone is leaving serious money on the table.

For house owners, the gap is smaller but still real. The assessment says $1,719,654. HonestDoor says $1,705,987 right now, with the predicted value trending toward $1,734,368. Knowing which direction the real-world number is moving gives you an edge that a once-a-year government letter simply cannot.

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

If you are a house owner in Spening-Broadway and you have been sitting on the fence, the data gives you a reasonable case to move. Growth ranks 9th out of 36 Burnaby neighbourhoods - that is a strong leaderboard position. The predicted value is trending up. And with only 4 total property transactions recorded in 2026 so far, inventory is tight. Low supply and above-average growth momentum is a decent combination for a seller.

For condo owners, the picture is more nuanced. Your HonestDoor Price is strong - nearly $964,000 - but the recent -2.82% change and a below-average growth rank of 25 out of 37 suggest the condo market here is taking a breather. That does not mean do not sell. It means price it right from day one. Buyers in this price range are doing their homework, and they will know if you are overreaching.

Either way, the smartest first move is checking your HonestDoor Price before you call an agent, set a list price, or tell your neighbour what you think your place is worth. The number might surprise you - in the best possible way.

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.