Burnaby BC Housing Market Update: August 2026

Burnaby’s housing market is showing its first broad-based signs of life in nearly a year. As a Burnaby-based real estate agent with Luxmore Realty, I track these shifts closely so my clients aren’t guessing when they’re ready to buy or sell, and this summer’s numbers are worth paying attention to.

Across Metro Vancouver, residential sales climbed for the first time year-over-year since last September, and Burnaby is riding that same wave. If you’re weighing a move in Metrotown, Brentwood, or one of Burnaby’s quieter pockets, here’s what’s actually happening in the Burnaby BC housing market right now.

Key Takeaways

• Metro Vancouver residential sales rose 9.6% year-over-year in June 2026, with detached, attached, and apartment sales all posting gains in the same month for the first time in years (Greater Vancouver REALTORS®, June 2026 Market Watch).
• The MLS® Home Price Index composite benchmark price across the region sat at $1,099,100 in June 2026, down 6% from June 2025 and essentially flat month-over-month (Greater Vancouver REALTORS®).
• Inventory remains elevated enough to absorb the renewed demand, which is keeping prices from moving up despite stronger sales activity.
• Brentwood and Metrotown continue to lead Burnaby’s construction activity, with major projects reshaping both neighbourhoods’ housing supply.

What’s Driving Burnaby’s Summer Market

The broad gain across all three home types — detached, attached, and apartment — is a pattern the Greater Vancouver REALTORS® board hasn’t seen in recent years. It suggests demand may be returning more evenly across price points rather than concentrating in one segment, as it often has in past cycles.

Detached home sales led the pack regionally, up 13.7% year-over-year, with attached homes close behind at 11.4% and apartments up 6.1%, according to the Greater Vancouver REALTORS® June 2026 Market Watch report. In my experience working with Burnaby buyers, that kind of across-the-board movement usually means more competition is starting to show up at open houses, even if it hasn’t fully translated into rising prices yet.

Burnaby Home Prices: Where Things Stand

Here’s the nuance worth understanding if you’re active in the Burnaby BC housing market this summer: sales are up, but prices haven’t followed. The region-wide MLS® Home Price Index composite benchmark was $1,099,100 in June 2026, down 6% from the same month last year and only marginally lower than May 2026 (Greater Vancouver REALTORS®).

That’s good news if you’re buying — you’re not chasing a market that’s sprinting away from you. If you’re selling in Burnaby, it means pricing strategy matters more than ever. Overpricing a listing in this environment tends to backfire quickly, because buyers have enough active inventory to compare against.

For a precise read on what a specific Burnaby property is worth right now, whether that’s a townhouse near Edmonds or a highrise unit in Brentwood, reach out directly — benchmark figures are regional averages, and Burnaby’s sub-areas can vary meaningfully from block to block.

Inventory Levels Are Keeping Burnaby Balanced

One of the more important threads in this summer’s data is inventory. The Greater Vancouver REALTORS® board noted that the supply of homes for sale has been substantial enough to absorb the increase in buyer activity, which is exactly why prices have stayed relatively steady even as sales pick up.

For Burnaby specifically, that balance shows up as more choice for buyers walking through Metrotown condos or Burnaby North family homes, without the bidding-war pressure that defines a true seller’s market. It’s a healthier environment for negotiation on both sides of a transaction.

New Construction Reshaping Burnaby’s Neighbourhoods

Burnaby’s two biggest development hubs, Brentwood and Metrotown, continue to see major activity that will influence housing supply for years to come. Concord Pacific has broken ground on Dawson Park, a new 10-acre public park at Concord Brentwood, Burnaby’s first new addition to its municipal park network since 2005 (Daily Hive, 2026). The surrounding Concord Brentwood redevelopment is expected to eventually bring roughly 4,600 homes to the area across a dozen towers on a 26-acre site that was previously industrial land.

In Metrotown, construction is progressing on 116 new below-market rental homes near Cassie Avenue, part of a broader wave of high-density redevelopment in the neighbourhood (Construct Connect, 2026). Projects like these matter for buyers and renters alike — new supply in these corridors will shape pricing and availability well into 2027 and beyond.

What This Means If You’re Buying or Selling in Burnaby

If you’re a buyer, this is a market where patience and preparation pay off. Sales are picking up, but you’re not yet fighting the kind of frenzy that erases negotiating room. Getting pre-approved and ready to move quickly on the right property still matters, because momentum can shift.

If you’re a seller, the data points to a market that rewards realistic pricing over ambitious asking prices. Homes priced in line with recent comparable sales are moving; homes priced hopefully are sitting. I walk every Burnaby seller through a comparable analysis specific to their block before we set a number, not a citywide average.

Frequently Asked Questions About the Burnaby BC Housing Market

Is Burnaby a buyer’s or seller’s market in August 2026?

Burnaby is currently balanced, leaning toward buyers. Sales activity is up, but healthy inventory levels are keeping prices roughly flat, giving buyers more room to negotiate than in a tight seller’s market.

Are home prices in Burnaby going up or down right now?

Regional benchmark prices were down about 6% year-over-year as of June 2026 and nearly flat month-over-month, according to Greater Vancouver REALTORS®. Burnaby generally tracks close to the regional trend, though specific neighbourhoods can vary.

What areas of Burnaby have the most new construction?

Brentwood and Metrotown are Burnaby’s most active development hubs right now, with large-scale residential and rental projects underway that will add significant housing supply over the next several years.

Is now a good time to buy in Burnaby?

That depends on your timeline and goals. Current conditions favour buyers with more selection and less price pressure than in recent boom years, but it’s worth a personalized conversation about your specific budget and target neighbourhood.

Thinking About Buying or Selling in Burnaby?

Burnaby’s market is shifting, and the numbers tell a more nuanced story than headlines alone. Whether you’re watching Metrotown condos, considering a family home near Edmonds, or thinking about listing this fall, I’d love to walk you through what these trends mean for your specific situation. Call me, Stephanie Wong PREC, at (778) 960-8269, or visit stephaniewong.ca to schedule a free consultation.