Burnaby’s real estate market continues to move alongside the wider Metro Vancouver region, with prices softening slightly from last year while sales activity remains below long-term seasonal norms. For buyers, that combination is creating more room to negotiate. For sellers, it means pricing and presentation matter more than ever.
Across Metro Vancouver, the MLS Home Price Index composite benchmark price for all residential properties sat at approximately $1,081,900 in August 2026, a 5.6 percent decrease from August 2025 and a 0.6 percent dip from the previous month. Burnaby’s detached, townhouse, and condo segments have generally tracked this regional pattern, though the pace of change varies by property type and neighbourhood.
Here is a closer look at what is happening in each segment of the Burnaby market and what it means if you are thinking about buying or selling in the months ahead.
Detached Homes: Prices Cooling, Selection Improving
The regional benchmark price for a detached home was approximately $1,799,400 in August 2026, down 7.2 percent year over year and 1.3 percent from July. Burnaby detached homes, from established streets in Burnaby Heights to larger lots in South Burnaby, have generally followed this softer trend.
For buyers, this means more room to negotiate on price and conditions than in recent years. For sellers, it means a home priced against last year’s expectations is likely to sit longer than it would have twelve months ago.
Townhouses: The Middle Ground Holding Steadier
Townhouses have shown relatively more stability than detached homes, with the regional benchmark price at approximately $1,028,800 in August 2026, down 4.4 percent year over year but only 0.2 percent from the prior month. In Burnaby, this segment continues to appeal to move-up buyers and young families who want more space than a condo without the price point of a detached home.
Well-located, well-maintained townhouses in areas like Brentwood and Edmonds continue to draw steady interest even as the broader market has cooled.
Condos: The Largest Share of Burnaby’s Market
Apartment benchmark prices across the region sat at approximately $686,200 in August 2026, down 6.6 percent year over year. Condos remain the most common property type transacting in Burnaby, particularly around SkyTrain-connected hubs like Metrotown, Brentwood, and Lougheed.
With more inventory available and softer year-over-year pricing, condo buyers currently have more negotiating leverage than they have in several years, particularly on units that have been listed for an extended period.
Sales Activity Remains Below Typical Seasonal Levels
Regional residential sales totalled 1,869 in August 2026, a 4.6 percent decrease from August 2025 and roughly 20.7 percent below the 10-year seasonal average for the month. New listings also declined slightly, down about 3 percent year over year to 4,100 properties.
This combination, fewer sales but not a flood of new inventory, has kept the market from tilting sharply in either direction. It has instead created a more balanced environment where properly priced homes still sell, but overpriced ones sit.
What This Means if You Are Buying in Burnaby
Buyers currently have more time to make decisions and more room to negotiate on price, closing dates, and included items than in a fast-moving seller’s market. That said, well-priced homes in strong locations are still attracting serious attention, so being prepared with financing and a clear search strategy remains important.
A mortgage calculator can help you understand your budget before you start touring homes, and browsing current listings will give you a sense of what is actually available in your target neighbourhoods right now.
What This Means if You Are Selling in Burnaby
With prices adjusting from last year’s peaks, pricing your home based on outdated expectations is one of the fastest ways to end up with a stale listing. Buyers in this market are comparing carefully, and a home that looks overpriced next to its competition tends to sit while similar, better-priced homes sell around it.
A current, evidence-based home valuation is the best starting point for setting a strategy that reflects today’s conditions rather than last year’s market.
Keeping an Eye on the Months Ahead
Market conditions in Burnaby can shift with interest rate changes, new listing volume, and seasonal buying patterns. Rather than relying on general headlines about the national or provincial market, it is worth tracking local, Burnaby-specific data as you plan your next move.
If you would like to discuss what current conditions mean for your specific property or purchase goals, reach out for a no-pressure conversation about your options.
Frequently Asked Questions
Is Burnaby currently a buyer’s or seller’s market?
Overall conditions are fairly balanced, with softer year-over-year pricing and sales activity below typical seasonal levels. Specific segments and neighbourhoods can lean more toward buyers or sellers depending on inventory and demand at any given time.
Have Burnaby home prices gone up or down this year?
Regional benchmark prices across Metro Vancouver, which Burnaby generally tracks, were down across detached, townhouse, and condo segments compared to a year earlier as of August 2026.
Which property type is performing best in Burnaby right now?
Townhouses have shown relatively more price stability than detached homes and condos in recent months, though all three segments remain sensitive to location, condition, and pricing strategy.
Should I wait to sell my Burnaby home until prices rise again?
That depends on your personal timeline, goals, and the specific segment your property falls into. A current home valuation can help you weigh the trade-offs between selling now and waiting for a potential shift in conditions.
Where can I find up-to-date Burnaby market data?
A regularly updated market snapshot is a useful way to track local pricing and activity trends without having to piece together national headlines.
