Resale Real Estate Market in Burnaby 2025 – Current Trends, Prices & Expert Insights

Burnaby isn’t a “near‑Vancouver” market any more - it’s a centre of gravity. Rapid transit, skyline‑level redevelopments, and steady in‑migration keep resale activity busy even when regional sales cool. Here’s a crisp read on what’s happening now (2025), where prices sit, and how to move with the market - not against it.

Key takeaway: Inventory is high, buyers have leverage in detached and condo segments, and pricing needs to be razor‑sharp. Townhomes hold the tightest balance. Rates are easing, but demand is rebuilding slowly - not suddenly.

Setting the scene - why 2025 feels different

After a turbulent first half to 2025, regional sales fell 9.8% year over year in June while listings rose sharply. That pushed the sales‑to‑active listings ratio to 12.8% overall - 9.9% detached, 16.9% attached, 13.9% apartments. In plain language: detached and condos lean buyer, townhomes are balanced. See the Greater Vancouver REALTORS® (GVR) June 2025 report for the full table and PDF.

Earlier, March 2025 posted the lowest March sales since 2019, with ratios at 10.3% detached, 21.5% attached, 16.2% apartments - another signal leverage had shifted away from sellers.

Burnaby price context: heading into 2025, December 2024 benchmarks showed a mixed picture across the three regions: Burnaby East $1,131,000, Burnaby North $986,700, Burnaby South $1,122,500. Detached benchmarks ranged from $1,957,700 (East) to $2,233,000 (South). Source: Burnaby Now’s summary of GVR data.

Fun fact: Townhomes keep outperforming. Ratios sit in the mid‑ to high‑teens - families want space and yards without detached‑home price tags.

The indicators that matter

Prices, sales, inventory

• Metro benchmarks (June 2025): Detached $1,994,500, Townhome $1,103,900, Apartment $748,400 - GVR.
  
  
• Inventory: 17,561 active listings - +23.8% year over year, well above the 10‑year seasonal average - GVR.
  
  
• Sales: 2,181 in June 2025 - ‑9.8% YoY and ‑25.8% vs. the 10‑year seasonal average - GVR.
  
  

What the ratios say

Analysts typically treat <12% as buyer pressure and >20% as seller pressure; 12–20% is balanced. See a helpful primer on thresholds via BCHB. Compare those thresholds to the March and June ratios: buyers have leverage in detached and condos, while townhomes hover near balance. For a narrative that mirrors the data, see SN Group’s June wrap.

Affordability snapshots

• Detached in Burnaby often trades well over $1.8M. Townhouses ~ $1.1M. Condos ~ $650k–$850k depending on tower, age and SkyTrain access - Place Real Estate cost guide.
  
  
• Rents: about $2,400 for a 1‑bed condo and $3,200 for a 2‑bed - same source.
  
  
• National pulse: CREA reports June national home sales up 2.8% MoM and 3.5% YoY, while MLS® HPI fell 0.5% MoM and 3.7% YoY - a soft‑landing pattern. For a practical forecast, see True North Mortgage’s 2025‑2027 outlook.
  
  

Neighbourhood focus - East, North, South

Quote to remember: “On a trended basis, signs are emerging that sales activity is rounding the corner.” - Andrew Lis, GVR. Read the context in GVR’s June 2025 report.

Property type breakdown - where leverage sits

Detached homes - buyer‑tilted

• Ratio: ~9.9% in June - buyer’s market - GVR.
  
  
• Playbook: inspect deeply, price in future maintenance, negotiate completion dates and seller‑paid touch‑ups, use longer DOM as leverage.
  
  

Townhomes - most resilient

• Ratio: ~17% - near balanced.
  
  
• Playbook: arrive pre‑approved; ask for upcoming strata projects, confirm soundproofing, and verify parking (tandem vs. side‑by‑side). Data context: March and June GVR.
  
  

Condos - wide choice, careful comps

• Ratio: ~14% - leans buyer.
  
  
• Playbook: compare price‑per‑sq‑ft across micro‑areas, check strata CRF balances, read depreciation reports, confirm insurance deductibles. Regional averages for a quick sniff test: detached ≈ $775/sq ft, condos ≈ $895/sq ft, townhomes ≈ $781/sq ft - SN Group.
  

Affordability - quick math

Example - 2‑bed condo at $750,000:

• 20% down: $150,000
  
  
• Mortgage: $600,000
  
  
• At 4.79% fixed, 25‑year amort: ≈ $3,430/month (principal + interest)
  
  
• Add strata fees ($350–$500), property tax (~$2,000–$2,500/yr), insurance.
  Run your own numbers with CREA calculators or your lender. For a rate outlook, see True North Mortgage’s forecast.
  
  

Pro tip: Compare by total monthly cost, not just sticker price. A well‑managed building with a healthy CRF can beat a “deal” that comes with special levies.

Expert strategies - buyers and sellers

For buyers

1. Shop patiently, act decisively. Detached and condos give you leverage - the best listings still move.
   
   
2. Make your offer easy to accept. Short subjects, verified financing, flexible dates.
   
   
3. Use comps with discipline. Pull 90‑day solds within 0.2 km for towers, 0.5 km for ground‑oriented. Layer in price‑per‑sq‑ft and view premiums.
   
   
4. Stress‑test payments. Model ±100 bps on your chosen term and set your true ceiling - CREA stats hub.
   
   

For sellers

1. Price to the market that exists - not last spring. Anchor to the latest sold comps and current ratio.
   
   
2. Win on first impression. Light, paint, declutter, minor repairs. Stage if traffic is slow.
   
   
3. Front‑load due diligence. Share depreciation‑report excerpts, recent maintenance, warranties. Reduce friction, boost certainty.
   
   
4. Adjust quickly. If showings are slow after week one, revisit price. Inventory is high. Ratios: GVR June 2025.
   
   

Looking ahead

Rates are easing and national sales are ticking up, but Metro Vancouver is rebuilding demand slowly. Elevated inventory points to continued negotiation power for buyers through late 2025, with townhomes holding the firmest pricing. Track inflection points in GVR’s monthly reports. For neighbourhood drill‑downs, pair GVR PDFs with HonestDoor’s Burnaby page.

Key takeaway: If you price right, you sell. If you price to yesterday, you sit.

FAQs

Is Burnaby cheaper than Vancouver?
Usually, yes. You often get 15–20% more space for a similar price versus Vancouver proper. See cost context in this Burnaby guide and confirm with current solds by speaking with an experienced burnaby realtor.

What’s the fastest‑moving product right now?
Townhomes are the steadiest, with ratios near the balanced band in 2025. Track monthly via GVR Market Watch.

How do I know if a list price is fair?
Check last 3 months of solds within a tight radius, compare $/sq‑ft, DOM, view, renos, parking/storage. Cross‑check the MLS® HPI for the property type in the GVR monthly PDF.

Will prices drop further in 2025?
Ratios below 12% tend to put downward pressure on prices. Detached and condos have flirted with that band in 2025, so targeted softness is likely where inventory is deepest. Watch the ratios in GVR reports.

What’s a quick reality check before offering?
Run three tests: (1) match to the closest sold in 30–60 days, (2) compare $/sq‑ft within building/block, (3) confirm the segment ratio. If two of three suggest a discount, negotiate. If all three support list, move fast with clean terms.