Sussex-Nelson, Burnaby - October 2026 Real Estate Report
Sussex-Nelson, Burnaby: Your Home Is Worth More Than the City Thinks - Here's the Proof
If you own a home in Sussex-Nelson and you've been glancing at your BC Assessment notice, here's something worth knowing: the city's number is already out of date. The real story is more interesting - and for house owners, more valuable.
The Vibe: What's Actually Happening on Our Streets
Houses
Our houses are holding strong. The average HonestDoor Price sits at $2,057,030, and while that's down a modest 1.45% from last period, the predicted market value is trending the other way - up to $2,087,261 from a 3-month moving average of $2,060,498. That's the market finding its floor and starting to push back up.
- Average HonestDoor Price: $2,057,030
- Predicted Market Value: $2,087,261
- Average Sale Price: $1,450,000
- Price Per Square Foot: $478
- Estimated Monthly Rent: $7,054
- Rental Yield: 3.69%
- Properties Sold (2026): 1 transaction tracked
- Neighbourhood Leaderboard - Growth Rank: 6 out of 36 in Burnaby
- Neighbourhood Leaderboard - Price Rank: 14 out of 35 in Burnaby
That growth rank is the number to pay attention to. Top 6 out of 36 comparable neighbourhoods puts us firmly in the upper tier of Burnaby. We're not the flashiest market right now, but we're one of the more consistent ones. For landlords, $7,054 a month in estimated rent with a 3.69% yield is a decent return in this city.
Condos
The condo picture here is a bit unusual - and worth a closer look. The average HonestDoor Price for condos in Sussex-Nelson is $2,641,347, which is up 4.99% from last period. That's a strong move. But the average sale price is sitting at $430,000 with a price per square foot of $707. The gap between those two numbers tells you the condo market here is thin on transactions - only 1 sale recorded in 2026 - so averages can swing wide.
- Average HonestDoor Price: $2,641,347 (up 4.99%)
- Predicted Market Value: $2,515,863
- Average Sale Price: $430,000
- Price Per Square Foot: $707
- Estimated Monthly Rent: $7,799
- Rental Yield: 2.41%
- Airbnb Estimate: $399 per night - ranked 3rd in Burnaby
- Properties Sold (2026): 1 transaction tracked
- Neighbourhood Leaderboard - Growth Rank: 25 out of 37 in Burnaby
- Neighbourhood Leaderboard - Price Rank: 21 out of 26 in Burnaby
The condo growth rank of 25 out of 37 is below average, and the recent value change of -2.28% confirms the segment is taking a breather. That said, the Airbnb ranking of 3rd in all of Burnaby is genuinely impressive. If you own a condo here and it's sitting empty part of the year, that $399-per-night estimate deserves a serious look.
The Secret Sauce: Why Your HonestDoor Price Matters Right Now
Here's the thing about BC Assessment. It values your property as of July 1 of the previous year. By the time that notice lands in your mailbox, the number is already 6 to 18 months old. Markets move. Sussex-Nelson has moved.
For houses, the average assessed value is $2,144,432. The HonestDoor Price is $2,057,030. That's a gap of roughly $87,000 - and it means the city is currently overvaluing our homes relative to where the real-world market is trading. That matters for your property tax calculation. It also matters if you're using your assessment as a benchmark for a listing price, because you could be anchoring to a number that buyers won't support.
For condos, the gap runs the other direction - and it's dramatic. The average assessed value is $600,722, but the HonestDoor Price is $2,641,347. That 339.70% difference is a signal that the assessment is badly out of sync with actual market conditions for this property type. If you're a condo owner here and you're making financial decisions based on your assessment, you need a more current number. That's exactly what the HonestDoor Price is built to give you.
The 'So What?': Thinking About Selling This Summer?
If you own a house in Sussex-Nelson and you're weighing a summer sale, the timing has some things going for it. We're ranked 6th out of 36 neighbourhoods in Burnaby for growth - that's a strong story to tell buyers. The predicted market value is trending up, and with 2,322 properties assessed this year, there's a deep pool of comparable data supporting your price conversation with an agent.
The honest caution: only 11 total property transactions happened in Sussex-Nelson in 2026 so far. Low transaction volume means the market is quiet. Quiet markets can work for sellers - less competition - but they also mean fewer buyers actively looking. Pricing sharp and marketing well matters more in a thin market than in a hot one.
For condo owners, the below-average growth rank and the recent -2.28% value shift suggest waiting for a stronger trend before listing. The Airbnb income potential at $399 per night and a top-3 Burnaby ranking could make holding and renting short-term a smarter play while the segment finds its footing.
Bottom line: check your HonestDoor Price before you do anything else. It's the real-world number - not the government's snapshot from a year ago. Start there.
sussex-nelson | 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.