Burnaby · Market Report

Burnaby Real Estate Market Report 2026

Burnaby is Metro Vancouver's geographic centre and one of its most dynamic real estate markets. This report covers Burnaby's three town centres — Metrotown, Brentwood, and Lougheed — along with established neighbourhoods like Burnaby Heights and Highgate.

Published July 2026·By Taj Sandhu

$1,850,000 (detached), $920,000 (townhouse), $590,000 (condo)

Average Sold Price

$1,720,000 (detached), $870,000 (townhouse), $560,000 (condo)

Median Price

18 (detached), 14 (townhouse), 20 (condo)

Avg Days on Market

325 total residential sales in Q2 2026, with Metrotown and Brentwood accounting for over 60% of transactions

Sales Volume

Executive Summary

Burnaby Real Estate at a Glance

Burnaby's real estate market in 2026 continues to be driven by transit-oriented development around SkyTrain stations. The city's four town centres (Metrotown, Brentwood, Lougheed, Edmonds) account for the majority of new construction and sales activity. Condo living dominates the market, with high-rise towers reshaping the skyline. Detached homes in established neighbourhoods remain tightly held and command premium prices.

Detached Homes

Detached Homes in Burnaby

Detached homes in Burnaby average $1,850,000, with year-over-year growth of approximately 1.9%. Burnaby Heights leads at $1.8M+, with many properties valued for redevelopment potential. The detached market is characterized by low inventory and strong competition, particularly for homes on larger lots in redevelopment areas.

Townhouses

Townhouses in Burnaby

Townhouses in Burnaby average $920,000, with most inventory concentrated in Metrotown and Brentwood. New townhouse developments are rare, as most new construction is high-rise condo. Resale townhouses in established complexes command strong prices due to limited supply.

Condos

Condos in Burnaby

Burnaby's condo market averages $590,000, with Metrotown and Brentwood commanding the highest prices. One-bedroom condos start at $520,000, two-bedrooms at $700,000+ in premium buildings. The condo market benefits from strong rental demand driven by BCIT and SFU students, as well as young professionals working in Vancouver.

Inventory

Inventory in Burnaby

Active listings in Burnaby total approximately 350-400 units, representing about 2 months of inventory — a strong seller's market. Condo inventory is tightest, with many buildings seeing multiple offers on well-priced units. Detached home inventory is chronically low.

Sales Volume

Sales Volume in Burnaby

325 total residential sales in Q2 2026, with Metrotown and Brentwood accounting for over 60% of transactions

Price Trends

Price Trends in Burnaby

Burnaby continues to see steady appreciation of 2-3% annually. Condos in new high-rise buildings command a premium of 15-20% over older buildings. Established neighbourhoods like Burnaby Heights and Capitol Hill see stronger detached appreciation due to scarcity and redevelopment potential.

Buyer Analysis

Buyer Analysis in Burnaby

Burnaby buyers are predominantly young professionals, investors, and downsizers. First-time buyers often start with condos in Metrotown or Lougheed. Investors are drawn to Burnaby's strong rental market and transit connectivity. Detached home buyers are typically families upgrading from condos or moving from Vancouver for more space.

Seller Analysis

Seller Analysis in Burnaby

Sellers in Burnaby benefit from the tightest market conditions in Metro Vancouver after Vancouver proper. Condo sellers in new buildings should price competitively given the volume of presale completions entering the market. Detached home sellers with redevelopment potential should consider a staged sale strategy to maximize value.

Investment Opportunities

Investment Opportunities in Burnaby

Burnaby offers some of the strongest investment fundamentals in Metro Vancouver. Transit-connected condos in Metrotown and Brentwood deliver solid rental yields (3.5-4.5% gross). Detached homes on redevelopment lots near SkyTrain stations offer significant land-value appreciation potential. The Edmonds and Lougheed areas offer lower entry points with strong future growth potential as town centre plans mature.

Market Forecast

Market Forecast in Burnaby

Burnaby's market outlook remains positive, driven by transit connectivity, employment growth (BCIT, SFU, and tech sector), and limited available land. Condo prices should see 2-4% annual appreciation. Detached homes in redevelopment areas will see outsized gains as the city's Official Community Plan encourages density along transit corridors. Risks include potential oversupply in the condo segment as multiple projects complete simultaneously.

FAQ

Burnaby Real Estate — Common Questions

Is Metrotown or Brentwood a better investment?

Both are strong. Metrotown offers BC's largest shopping centre and more established amenities. Brentwood is newer with more development momentum. Both have excellent SkyTrain connectivity and strong rental demand.

Are Burnaby condos overpriced?

Burnaby condo prices are supported by strong fundamentals — transit connectivity, employment centres, and rental demand. While prices are high, they remain significantly more affordable than Vancouver and offer comparable amenities.

What is the best family neighbourhood in Burnaby?

Burnaby Heights (The Heights) is the top choice for families, offering detached homes, top schools, and a vibrant Village shopping district. Capitol Hill and the area around Deer Lake are also excellent family options.

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