Burnaby Real Estate Market Report
Executive Summary
The Burnaby, British Columbia real estate market is currently classified as a buyer's market. The MLS composite benchmark price is $1.1M, down 6.0% year-over-year.
There are currently 2,018 active listings, representing 8.5 months of inventory. According to Greater Vancouver REALTORS, there were 2,390 sales and 5,938 new listings in June 2026. Inventory has increased 147.6% compared to last month.
Currently, listings spend an average of 28 days on market and the average price per square foot is $946.
Board Data vs Our Listings
| Metric | Greater Vancouver REALTORS | Our Listings |
|---|---|---|
| Benchmark / Median Price | $1.1M | $899K |
| Active Listings | 17,017 | 2,018 |
| Detached Benchmark | $1.8M | $3.6M |
| Townhouse Benchmark | $1.0M | $916K |
| Apartment Benchmark | $695K | $825K |
Detached properties make up the largest share of the Burnaby market at 27% of active listings with an average price of $3.6M. Condo listings follow at 65% (avg $825K).
Sales Activity & Absorption
Volume
Market Signals
Greater Vancouver REALTORS reported 2,390 sales this period, 1203 new listings appeared in the past month, 412 sellers reduced their asking price.
Market Balance
Months of Inventory
Demand moderately exceeds supply — conditions favor sellers.
Moderate absorption — healthy turnover.
With 8.5 months of inventory, buyers have more options and negotiating leverage. Sellers should price competitively and be prepared for longer marketing times.
Neighborhoods
| Area | Listings | Avg Price |
|---|---|---|
| Gilmore Place | 13 | $984K |
| The City Of Lougheed | 11 | $734K |
| Slate | 10 | $1.3M |
| The Standard | 9 | $847K |
| Kwasen Village | 9 | $772K |
| Station Square | 9 | $965K |
| Alaska | 8 | $693K |
| Concord Brentwood Hillside East | 7 | $1.2M |
| Burlington Square | 7 | $613K |
| Novo 2 | 7 | $508K |
| Polaris | 7 | $825K |
| Cedar Creek | 7 | $695K |
Interest Rates & Affordability
Current Rates
Lower rates increase purchasing power. The Bank of Canada sets the policy rate which influences prime rates across lenders.
Estimated Monthly Payment
This is an estimate only. Actual rates and payments will vary based on your credit profile, lender, and mortgage terms.
Market Outlook
This is currently a buyer's market with more negotiating power for purchasers. The Burnaby market currently has 2,018 active listings with a median price of $899K and 8.5 months of inventory.
According to Greater Vancouver REALTORS, the composite benchmark price is $1.1M (-6.0% year-over-year). There were 2,390 sales recorded, with a sales-to-active listings ratio of 14.6%. This indicates a balanced market with moderate competition.
- High inventory (8.5 months) favors buyers
- Prices declining (-33.2% in 30 days)
- High price reduction rate (20% of listings)
- Low sell-through rate (11%)
- Average price per square foot is $946
- Sold properties averaged -11 days on market
Data sourced from CREA DDF® active and sold listings. Metrics computed from listing data updated daily, with board statistics from Greater Vancouver REALTORS. Prepared by Client Care with AI assistance, reviewed by our team.
Market data is calculated from active and recently sold MLS® listings as of July 2026. Past performance does not guarantee future results. Consult a real estate professional for specific advice.
Data provided by CREA DDF. The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA). Information deemed reliable but not guaranteed.