Spening-Broadway, Burnaby - October 2026 Real Estate Report
Spening-Broadway, Burnaby: Your Neighbour Just Got a Reality Check on Their Home Value
If you own property 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 not always in the direction the city's paperwork suggests.
The Vibe: What's Actually Happening on Our Streets
Let's break it down by property type, because houses and condos are telling two very different stories right now.
Houses - Holding Steady With a Little Momentum
If you've been watching the "For Sale" signs in Spening-Broadway, here's what's actually happening with houses. The average assessed value sits at $1,719,630, but the HonestDoor Price - the real-world number - comes in at $1,705,671. That's a gap worth knowing about, especially if you're pricing a listing.
- Average Assessed Value: $1,719,630
- HonestDoor Price: $1,705,671 (down 1.63% from last period)
- Predicted Market Value: $1,734,593
- 3-Month Moving Average: $1,724,815 (the predicted value is trending above this - a good sign)
- Average Sale Price: $825,000
- Price Per Square Foot: $674
- Estimated Monthly Rent: $6,106
- Rental Yield: 4.05%
- Airbnb Potential: $303 per month
- Properties Assessed: 1,929
- Transactions in 2026: 6
The predicted market value of $1,734,593 is actually climbing past the 3-month moving average of $1,724,815. That's a quiet signal that house values here are building a little steam. On the neighbourhood leaderboard, houses in Spening-Broadway rank 16 out of 36 for growth in Burnaby - solidly above average. For price, we rank 32 out of 35, which puts us among the more affordable house markets in the city. That combo - above-average growth, below-average price - is exactly what buyers look for.
Compared to neighbours, Government Road houses average $2,539,882. That's a different league. Lake City comes in at $1,141,024. We sit comfortably in the middle, and our growth is keeping pace with both.
Condos - Taking a Breather, But the Numbers Are Interesting
The condo story in Spening-Broadway is more nuanced. The HonestDoor Price for condos is $989,813 - and here's the headline: that's 78.23% higher than the average assessed value of $555,354. If you own a condo here and you're relying on your assessment, you are working with a seriously outdated number.
- Average Assessed Value: $555,354
- HonestDoor Price: $989,813 (up 7.04% from last period)
- Predicted Market Value: $924,694
- 3-Month Moving Average: $949,406 (the predicted value is dipping below this - worth watching)
- Average Sale Price: $695,000
- Price Per Square Foot: $458
- Estimated Monthly Rent: $3,358
- Rental Yield: 3.63%
- Airbnb Potential: $167 per month
- Properties Assessed: 503
- Transactions in 2026: 2
The condo market is cooling a touch. The predicted market value of $924,694 is sitting below the 3-month moving average of $949,406, and recent value change is down 4.05%. On the neighbourhood leaderboard, condos rank 34 out of 37 for growth in Burnaby - that puts us near the bottom of the pack right now. Price rank is 14 out of 26, so we're below average in price too. That's a soft market signal. It doesn't mean panic - it means pay attention.
One bright spot: the HonestDoor Price jumped 7.04% from the previous period. That kind of move in the HD Price, even while the short-term predicted value dips, suggests the underlying demand is still there. The market is catching its breath, not falling off a cliff.
The Secret Sauce: Why Your HonestDoor Price Matters More Than Your Assessment Right Now
Here's the thing about BC Assessments - they're a snapshot from last July. A lot has happened since then. The HonestDoor Price is updated in real time using actual sales data, market trends, and current conditions. It's the number that reflects what a buyer would actually put on paper today.
For house owners in Spening-Broadway, the HD Price of $1,705,671 is running 0.81% below the assessed value. That's a small gap, but it matters if you're negotiating. For condo owners, the gap is enormous - your HD Price of $989,813 is nearly double the assessed value of $555,354. If you're making any financial decision based on that assessment number alone - refinancing, estate planning, selling - you're working blind.
Check your HonestDoor Price. It takes two minutes and it's the most accurate real-world check you have against a static government number.
The So What - Thinking About Selling This Summer?
For house sellers, the timing is reasonable. Values are trending upward past the 3-month average, growth ranks above the midpoint in Burnaby, and you're priced more accessibly than Government Road without sacrificing much on returns. The rental estimate of $6,106 per month also gives you a strong story for investor buyers. With only 6 transactions in 2026 so far, inventory is tight - that works in a seller's favour.
For condo sellers, be honest with yourself about the short-term trend. The predicted value is dipping, the growth rank is near the bottom of the Burnaby leaderboard, and only 2 condos have traded in 2026. That's a thin market. It doesn't mean you can't sell - it means you need to price sharp and market hard. The good news is your HonestDoor Price of $989,813 is still well above what most buyers would expect based on assessed values, so there's real equity here to work with.
Bottom line for Spening-Broadway: houses are in a better position heading into summer than condos. Either way, get your HonestDoor Price before you have a single conversation with an agent. Know your number first.
spening-broadway | 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.