Spening-Broadway, Burnaby - June 2026 Real Estate Report

Spening-Broadway, Burnaby: Your Neighbour Just Got a Surprise on Their Assessment

If you own a home in Spening-Broadway and you haven't checked your HonestDoor Price lately, now is the time. The city's assessment and what your property is actually worth in today's market are two different conversations - and the gap might surprise you.

The Vibe: What's Happening With Houses and Condos Right Now

Let's break it down for us locals, because houses and condos are telling two very different stories here.

Houses in Spening-Broadway

The house market here is holding its ground. The average HonestDoor Price for a house sits at $1,726,389 - nudging just 0.39% above the city's average assessed value. That's a tight gap, which tells us the assessment is reasonably close to reality for houses. But "reasonably close" still means a difference of roughly $6,700 in your favour.

Here's the number that should get your attention: house values have moved 5.23% recently, and that puts Spening-Broadway houses at rank 4 out of 35 comparable neighbourhoods in Burnaby for growth. That is a top-tier leaderboard position. We are not in the middle of the pack - we are near the front.

• Average HonestDoor Price (Houses): $1,726,389
• Predicted market value: $1,727,931
• 3-month moving average: $1,705,754 - and we are trending above it
• Average sale price: $775,000
• Price per square foot: $549
• Estimated monthly rent: $6,081
• Rental yield: 4.04%
• Growth rank: 4 out of 35 in Burnaby
• Properties assessed this year: 1,930

For context, houses in nearby Lake City are selling around $700,000 on average. We are running higher than that, which reflects the demand this pocket of Burnaby is holding onto.

Condos in Spening-Broadway

The condo story here is genuinely striking. The average assessed value for a condo is $555,354. The average HonestDoor Price is $987,704. That is a gap of 77.85% above the assessed value. In plain terms, if a condo owner in Spening-Broadway is looking at their tax assessment and thinking that is what their unit is worth, they are leaving a massive amount of money on the table mentally.

Condo values here have moved 4.27% recently, landing at growth rank 15 out of 37 in Burnaby - above average, and climbing. The predicted market value of $928,259 is sitting above the 3-month moving average of $923,740, so the direction is upward.

• Average HonestDoor Price (Condos): $987,704 - up 6.40% from the previous period
• Predicted market value: $928,259
• 3-month moving average: $923,740 - and we are trending above it
• Average sale price: $410,000
• Price per square foot: $597
• Estimated monthly rent: $3,427
• Rental yield: 3.60%
• Growth rank: 15 out of 37 in Burnaby
• Properties assessed this year: 503

Nearby, condos in Government Road average $613,640 and Lake City sits at $622,253. Ardingley-Sproff comes in at $772,435. Our HonestDoor Price clears all three of them. That is a real competitive position for Spening-Broadway condo owners.

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

Here is the honest truth about government assessments: they are a snapshot from the past. They are calculated using data that is already months old by the time it lands in your mailbox. The market does not wait for paperwork.

The HonestDoor Price is a real-world check - updated regularly using actual market activity, not a bureaucratic calendar. For houses here, the HonestDoor Price is running above the assessed value. For condos, it is running nearly 78% above the assessed value. If you are making any financial decision - refinancing, selling, even just understanding your net worth - using the assessment number alone is working with incomplete information.

Spening-Broadway has 1,930 houses and 503 condos assessed this year. That is a substantial neighbourhood. Knowing where your specific property sits within that pool, in real time, is the difference between guessing and knowing.

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

If selling is on your radar for this summer, here is what the data is actually telling us.

For house owners, you are sitting in a top-4 growth neighbourhood in Burnaby right now. The predicted market value is trending above the 3-month average, which means momentum is with you. Transaction volume is modest - 3 property transactions recorded in 2026 so far - which means less competition from other sellers. That is not a bad position to list from.

For condo owners, the 6.40% increase in the HonestDoor Price from the previous period is the headline. Values are moving up, the predicted price is above the moving average, and your assessed value is dramatically lower than what the market is actually pricing your unit at. A buyer is not going to offer you assessed value - but you need to know your real number before you negotiate.

The neighbourhood is taking a breather on overall growth - down 0.03% year over year for houses and 0.05% for condos - but the recent price movement of 5.23% for houses and 4.27% for condos tells a more current story. The short-term trend is working in sellers' favour right now.

Bottom line: check your HonestDoor Price before you do anything else. It is the number that reflects today, not last year.

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.