Burnaby Real Estate Market Report - February 2026

Market Overview

The real estate market in Burnaby, British Columbia, has continued to demonstrate resilience and dynamism as we move into February 2026. With an average price of $1,493,478 and a median price of $899,000, the market reflects a diverse range of opportunities for both buyers and sellers. As of now, there are 1,468 active listings available, with 853 new listings introduced in the last 30 days, indicating a healthy influx of properties.

Current Trends Analysis

As we analyze the current trends in Burnaby's real estate market, several key observations can be made:

• The price range remains vast, extending from $1,200 to a staggering $95,000,000, providing options for a wide array of buyers.
• Detached homes remain a significant portion of the listings, with 362 properties available, showcasing the continued demand for single-family residences.
• Condos are also popular, with 947 listings currently on the market, indicating a strong preference for urban living among buyers.
• Interestingly, there are currently 0 townhouses listed, suggesting a potential gap in this segment that could present opportunities for future developments.

Advice for Buyers

For potential buyers in Burnaby, here are a few tips to navigate this competitive market:

• Be Prepared: With 853 new listings in the past month, it’s essential to have your finances in order and be pre-approved for a mortgage to act quickly when you find a desirable property.
• Understand the Market: Familiarize yourself with the average and median prices in various neighborhoods to better assess the value of homes you are interested in.
• Consider Different Property Types: While detached homes are popular, don’t overlook the potential of condos, especially if you are looking for lower maintenance options or urban conveniences.
• Work with a Local Realtor: A knowledgeable real estate agent can provide insights and help you navigate negotiations effectively.

Advice for Sellers

If you're considering selling your home in Burnaby, here are some strategies to optimize your sale:

• Price it Right: With an average price of $1,493,478, ensure your home is competitively priced based on recent market data and comparable sales in your area.
• Market Your Property: Utilize professional photography and online marketing strategies to showcase your home effectively, especially given the high volume of active listings.
• Prepare for Showings: First impressions matter. Ensure your home is clean, decluttered, and staged to attract potential buyers.
• Be Flexible with Showings: The more accessible your home is for showings, the higher the chances of a quicker sale.

Price Trends by Property Type

Understanding price trends by property type is crucial for both buyers and sellers. Below is a breakdown of the current market landscape by property type:

• Detached Homes: While specific pricing can vary greatly, the average price in this category typically aligns with the overall market but can exceed the median significantly due to larger family-oriented properties.
• Condos: The median prices for condos have shown a steady increase, appealing to younger buyers and investors. Expect prices to range widely, influenced by location and amenities.
• Townhouses: Despite currently having no listings, this segment is often sought after for its balance of space and affordability. Future developments may cater to this demand.

Conclusion

In conclusion, the Burnaby real estate market in February 2026 remains robust, with varied opportunities for both buyers and sellers. The influx of new listings coupled with a healthy supply of active properties indicates a vibrant marketplace. For buyers, understanding the dynamics of this market is essential, while sellers should focus on strategic pricing and marketing to capitalize on current trends. Whether you are looking to buy or sell, staying informed and prepared is the key to success in Burnaby's real estate landscape.