Burnaby Real Estate Market
Report generated May 2026
Balanced MarketMedian Price
¤875,500
Active Listings
201
As of May 2026, Burnaby, British Columbia is a Balanced market with 201 active listings and an average asking price of CAD $1,081,377.
The current market in Burnaby remains highly competitive, with an average listing price that reflects the broader Metro Vancouver trend of elevated home values. According to the latest data from Greater Vancouver REALTORS® (formerly REBGV), the city’s inventory of 201 active listings is modest relative to the strong demand seen across the region, yet the sales volume has not yet surged enough to tip the market decisively toward a seller’s advantage. Consequently, buyers and sellers alike find themselves navigating a market that balances high price points with a steady stream of transactions, maintaining a dynamic equilibrium.
For buyers, the high average price in Burnaby means that the total cost of purchase will be amplified by several provincial levies. The Property Transfer Tax (PTT) applies to the full purchase price, while new-build buyers must also account for the 5 % Goods and Services Tax (GST). In addition, properties located in designated urban areas are subject to the Speculation and Vacancy Tax (SVT), which can add a significant annual cost for owners who do not occupy the property as their primary residence. For condominium and townhouse buyers, strata fees—often a substantial recurring expense—must be factored into the overall affordability calculation.
Investors looking at Burnaby should weigh a range of BC‑specific regulatory considerations. The SVT remains in force for properties in the city’s urban core, and the federal Underused Housing Tax (UHT) imposes a 2.5 % levy on properties not used as primary residences, potentially impacting net returns. Short‑term rental restrictions in Metro Vancouver limit the number of days a property can be rented out, which may constrain income potential for investors relying on vacation rentals. Finally, the BC Tenancy Act caps annual rent increases to a modest percentage, ensuring that rental income growth is predictable but limited, a factor that can influence long‑term investment strategy.
The current market in Burnaby remains highly competitive, with an average listing price that reflects the broader Metro Vancouver trend of elevated home values. According to the latest data from Greater Vancouver REALTORS® (formerly REBGV), the city’s inventory of 201 active listings is modest relative to the strong demand seen across the region, yet the sales volume has not yet surged enough to tip the market decisively toward a seller’s advantage. Consequently, buyers and sellers alike find themselves navigating a market that balances high price points with a steady stream of transactions, maintaining a dynamic equilibrium.
For buyers, the high average price in Burnaby means that the total cost of purchase will be amplified by several provincial levies. The Property Transfer Tax (PTT) applies to the full purchase price, while new-build buyers must also account for the 5 % Goods and Services Tax (GST). In addition, properties located in designated urban areas are subject to the Speculation and Vacancy Tax (SVT), which can add a significant annual cost for owners who do not occupy the property as their primary residence. For condominium and townhouse buyers, strata fees—often a substantial recurring expense—must be factored into the overall affordability calculation.
Investors looking at Burnaby should weigh a range of BC‑specific regulatory considerations. The SVT remains in force for properties in the city’s urban core, and the federal Underused Housing Tax (UHT) imposes a 2.5 % levy on properties not used as primary residences, potentially impacting net returns. Short‑term rental restrictions in Metro Vancouver limit the number of days a property can be rented out, which may constrain income potential for investors relying on vacation rentals. Finally, the BC Tenancy Act caps annual rent increases to a modest percentage, ensuring that rental income growth is predictable but limited, a factor that can influence long‑term investment strategy.