Sussex-Nelson, Burnaby - July 2026 Real Estate Report

Sussex-Nelson, Burnaby: Your Home Is Worth More Than the City Thinks - Or Is It?

If you live in Sussex-Nelson and you have been glancing at your latest property assessment, here is the honest truth: that number is already out of date. The real market is moving, and right now it is telling a slightly different story than what the city has on file.

The Vibe: What Is Actually Happening on Our Streets

Sussex-Nelson sits near the top of the Burnaby price leaderboard. We are talking one of the most expensive pockets in the city. But "expensive" does not automatically mean "climbing." The neighbourhood posted a -0.04% year-over-year growth rate, which puts us right in the middle of the pack - ranked 17 out of 36 comparable neighbourhoods for house price growth. Not leading, not falling behind. Just taking a breather.

Here is how houses and condos are each telling their own story right now.

Houses: Still the Crown Jewel, But Steady

• Average assessed value: $2,144,432
• Average HonestDoor Price: $2,064,853 - down 0.67% from last period
• Average sale price: $2,398,000
• Price per square foot: $913
• Predicted market value: $2,078,834 - up from the 3-month average of $2,060,386
• Estimated rent: $7,032 per month
• Rental yield: 3.69%
• Properties sold recently: 1
• Price rank in Burnaby: 3 out of 34 - among the most expensive
• Growth rank in Burnaby: 17 out of 36 - above average

One sale does not make a trend, but the predicted value is creeping upward from its 3-month average. That is a small but real signal. We are not in a freefall. Houses here are holding their ground at a very high price point, and the rental income potential at over $7,000 a month is nothing to dismiss if you are thinking about your options.

Condos: A Wild Number Worth Explaining

• Average assessed value: $600,722
• Average HonestDoor Price: $2,423,442 - down 5.40% from last period
• Average sale price: $455,000
• Price per square foot: $735
• Predicted market value: $2,561,733 - up from the 3-month average of $2,440,096
• Estimated rent: $7,894 per month
• Rental yield: 2.39%
• Properties sold recently: 1
• Price rank in Burnaby: 24 out of 26 - among the most affordable
• Growth rank in Burnaby: 8 out of 37 - above average

The gap between the assessed value and the HonestDoor Price here is enormous - over 300%. That is not a typo. It reflects the kind of complex, mixed-use or unique condo stock that government assessments simply are not built to handle accurately. The predicted value is also climbing past its 3-month average, which is a positive signal. And landing at rank 8 out of 37 for growth puts our condos solidly in the upper tier of the Burnaby neighbourhood leaderboard.

The Secret Sauce: Why Your HonestDoor Price Matters Right Now

Here is the thing about a government assessment - it is a snapshot taken months ago, using formulas that do not account for what is actually selling on your block today. The HonestDoor Price is updated in real time, pulling from actual transaction data and current market signals.

For houses in Sussex-Nelson, the HonestDoor Price is already 3.71% below the average assessed value. That means if you are pricing a home based on your assessment, you could be starting the conversation in the wrong place. Buyers are doing their homework. They are checking live data. You should be too.

For condos, the gap is even more dramatic. An assessed value of $600,722 versus a HonestDoor Price of $2,423,442 is not a rounding error - it is a completely different picture of what your property is actually worth in today's market. Relying on the city's number here would be a serious mistake in either direction.

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

If you are weighing a summer sale, here is the straight talk.

Sussex-Nelson is one of the priciest addresses in Burnaby - top 3 for houses. That is a real advantage when inventory is tight and buyers are serious. But with only 4 total transactions recorded in 2026 and growth essentially flat, this is not a market where you can overprice and wait it out. Buyers have options.

Nearby, Clinton-Glenwood is cheaper and growing slightly faster. Suncrest and Maywood are both cheaper. That means buyers who are price-sensitive will look elsewhere. The buyers coming to Sussex-Nelson are specifically here for what we offer - location, prestige, and quality. Price it right and you will find them. Price it based on a stale assessment and you might not.

The Airbnb rank of 4 in Burnaby for houses and 3 for condos is also worth noting. At $347 to $378 per night, short-term rental income is a real part of the value story here - and that is something a government assessment will never tell you.

Bottom line: pull your HonestDoor Price before you call an agent. It is the number that reflects what is actually happening right now - not what the city decided 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.