Spening-Broadway, Burnaby - September 2026 Real Estate Report

Spening-Broadway, Burnaby: Your Neighbour Probably Doesn't Know This Yet

If you own a home in Spening-Broadway and you're still looking at your BC Assessment notice to figure out what your place is worth, you're working with old information. Here's what's actually happening on the ground right now.

The Vibe: What the Numbers Are Telling Us

Spening-Broadway is a neighbourhood where houses and condos are telling two very different stories this year. Let's break them down.

Houses: Holding Steady, But Watch the Trend

If you've been watching the "For Sale" signs around here, the house market is taking a breather. Values have dipped 1.63% recently, and the predicted market value of $1,705,783 is sliding below the 3-month moving average of $1,722,187. That gap is worth paying attention to.

• Average HonestDoor Price: $1,733,861 - up 1.65% from the previous period
• Average BC Assessment: $1,719,630
• HonestDoor Price vs. Assessment: 0.83% higher
• Average sale price (2026): $825,000
• Price per square foot: $674
• Properties sold in 2026: 6 total transactions
• Estimated monthly rent: $6,029 - $6,106
• Rental yield: 4.07%
• Airbnb potential: $299 - $303 per night
• Growth rank: 20 out of 36 neighbourhoods in Burnaby - below average
• Price rank: 33 out of 35 - among the most affordable houses in Burnaby

We're sitting in the bottom third for price among Burnaby house markets, which actually makes us more accessible than most. Compare that to Government Road next door, where the HonestDoor Price hits $2,578,648. Our neighbourhood is a different entry point entirely. Lake City comes in cheaper at $1,160,576, but their growth is also slower at -0.04% versus our -0.03%. We're all taking a similar breather, but Spening-Broadway is holding up slightly better than Lake City on the growth side.

Condos: A Bigger Gap Between Assessment and Reality

Here's where things get really interesting for condo owners. The average BC Assessment on condos here sits at $555,354. But the HonestDoor Price is $924,694. That's a 66.51% difference. If you're a condo owner relying on your assessment to understand your equity, you're significantly underestimating what you actually own.

• Average HonestDoor Price: $924,694 - down 4.05% from the previous period
• Average BC Assessment: $555,354
• HonestDoor Price vs. Assessment: 66.51% higher
• Average sale price (2026): $695,000
• Price per square foot: $458
• Properties sold in 2026: 2 total transactions
• Estimated monthly rent: $3,358 - $3,413
• Rental yield: 3.61%
• Airbnb potential: $167 - $169 per night
• Growth rank: 21 out of 37 neighbourhoods in Burnaby - below average
• Price rank: 21 out of 26 - among the most affordable condos in Burnaby

The condo HonestDoor Price has pulled back 4.05% recently, and the predicted value of $963,678 is drifting below the 3-month moving average of $970,409. Volume is thin - only 2 transactions in 2026 so far. Thin volume means each sale moves the needle a lot. One strong sale could shift the picture quickly. Nearby, Ardingley-Sproff condos are priced lower at $772,945 but growing faster at -0.02%. That's a neighbourhood to watch if you're comparing options.

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

BC Assessments are snapshots frozen in time - typically reflecting market conditions from July 1 of the prior year. By the time that notice hits your mailbox, the market has already moved. The HonestDoor Price is updated in real time using actual transaction data, so it reflects what buyers are doing right now, not what they were doing 18 months ago.

For houses in Spening-Broadway, the HonestDoor Price of $1,733,861 is already 0.83% above the average assessment. For condos, the gap is enormous - $924,694 versus a $555,354 assessment. If you're a condo owner using your assessment to make financial decisions - whether that's refinancing, calculating equity, or thinking about selling - you could be leaving serious money on the table by ignoring that difference.

With 1,929 houses and 503 condos assessed in the neighbourhood this year, there's a solid data foundation behind these numbers. This isn't a guess. It's the real-world check your assessment can't give you.

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

Here's the straight talk for anyone considering a move this summer.

For house sellers - the market isn't running away from you, but it's not accelerating either. Values are down 1.63% recently and sitting below the 3-month trend. Listing sooner rather than later means you're ahead of any further softening. With only 6 transactions recorded in 2026 so far, competition among sellers is low. That's actually good news for you - fewer competing listings means your property gets more attention. Our total transaction rank of 5 in Burnaby tells us buyers are active here relative to other neighbourhoods. Demand exists. Supply is tight.

For condo sellers - the 4.05% pullback in HonestDoor Price is a signal worth taking seriously. The market is cooling on the condo side. If you've been on the fence, waiting isn't obviously the better play right now. With only 2 transactions in 2026, pricing your unit correctly from day one matters enormously - there's no wave of comparable sales to bail you out if you overprice.

For both - check your HonestDoor Price before you call an agent. Walk into that conversation knowing your real-world number, not the government's year-old estimate. In a market like this, that knowledge is the difference between pricing confidently and guessing.

• Neighbourhood leaderboard - Houses growth rank: 20 out of 36 in Burnaby
• Neighbourhood leaderboard - Condos growth rank: 21 out of 37 in Burnaby
• Transaction activity rank in Burnaby: 5th - buyers are showing up here
• Airbnb rank in Burnaby (houses): 18th - solid short-term rental potential
• 1,929 houses and 503 condos assessed - a deep, reliable data pool

Bottom line - Spening-Broadway isn't the flashiest market in Burnaby right now, but it's real, it's active, and if you own here, you likely have more equity than your assessment is telling you. That's worth knowing.

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.