Burnaby Real Estate Market Report
Executive Summary
Brian SuicoLocal expert · BurnabyThe Burnaby, British Columbia real estate market is currently classified as a buyer's market. The median asking price is $899K.
There are currently 1,941 active listings, representing 7.2 months of inventory. 752 properties have sold in the past 90 days at a median sold price of $756K. Inventory has increased 36.4% compared to last month.
Currently, listings spend an average of 88 days on market and the average price per square foot is $929.
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 63% (avg $779K).
Sales Activity & Absorption
Volume
Market Signals
Greater Vancouver REALTORS (HPI) reported 297 sales this period, 525 new listings appeared in the past month, 47 sellers reduced their asking price.
Market Balance
Months of Inventory
Demand moderately exceeds supply — conditions favor sellers.
With 7.2 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 |
|---|---|---|
| Metrotown | 378 | $916K |
| Brentwood Park | 364 | $960K |
| Simon Fraser Univer. | 110 | $838K |
| Edmonds BE | 106 | $1.0M |
| South Slope | 99 | $1.5M |
| Highgate | 89 | $859K |
| Forest Glen BS | 83 | $1.4M |
| Sullivan Heights | 72 | $796K |
| Capitol Hill BN | 68 | $1.7M |
| Government Road | 52 | $2.3M |
| East Burnaby | 43 | $1.8M |
| Sperling-Duthie | 43 | $2.0M |
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 1,941 active listings with a median price of $899K and 7.2 months of inventory.
- High inventory (7.2 months) favors buyers
- Low price reduction rate (2% of listings)
- Slow-moving market (88 avg days on market)
- Average price per square foot is $929
- Sold properties averaged -1 days on market
Data sourced from BCRES active and sold listings. Metrics computed from listing data updated daily. Prepared by Brian Suico with AI assistance, reviewed by our team.
Monthly Reports Archive
Market data is calculated from active and recently sold MLS® listings as of August 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.