Burnaby Real Estate Market Report - August 2026

Burnaby's Real Estate Market: A Closer Look at Inventory and Sales

Burnaby's real estate market shows a significant inventory surplus, with 1,963 active listings against only 297 MLS® sales in June 2026. This imbalance highlights a buyer's market, where supply exceeds demand. The Greater Vancouver REALTORS reported these figures for June 2026, indicating a potential opportunity for buyers to negotiate favorable terms.

Price Breakdown by Property Type

Implications for Buyers

With 1,963 active listings and 579 new ones in the past 30 days, buyers have a wealth of options. The wide price range from $38,800 to $8,140,950 allows for diverse budget considerations. Buyers should leverage the high inventory to negotiate better prices and terms, particularly in the condo market, which has the highest number of active listings at 41. This scenario suggests increased competition among sellers, potentially leading to price reductions.

Implications for Sellers

Sellers face a competitive market with 1,963 active listings and only 297 sales in June 2026. To attract buyers, pricing strategies need to be aggressive and realistic. Highlighting unique property features and ensuring high-quality marketing materials can differentiate a listing. With only 21 active house listings, sellers in this category might find less competition, offering a slight advantage. However, those selling condos or townhouses should prepare for a longer time on the market and consider incentives to close deals.

30-Second Takeaway

Burnaby's real estate market in August 2026 is characterized by an inventory-rich environment, with 1,963 active listings and only 297 sales last June. Buyers should capitalize on the surplus to negotiate favorable deals, especially in the condo sector. Sellers must adopt competitive pricing and marketing strategies to stand out in a crowded market. The current conditions favor buyers, but strategic moves by sellers can still yield successful transactions.