South Westminster, Surrey - August 2026 Real Estate Report

South Westminster, Surrey: Your Neighbour Just Got a Surprise on Their Assessment

If you own a home in South Westminster and you haven't checked your HonestDoor Price lately, now is the time. The city's assessment number and what your property is actually worth in today's market are two different conversations - and the gap matters more than most people realize.

The Vibe: What's Happening With Houses Right Now

Let's be straight with each other. The house market in South Westminster is taking a breather. Only 1 house sold this month, and the average sale price came in at $850,000 - down 17.5% from last month. That's a big swing, but with just one transaction, it's a thin data set. Don't read too much into a single sale.

The bigger picture is more reassuring. The HonestDoor predicted market value for houses sits at $1,416,386, which is actually creeping up past the 3-month moving average of $1,411,159. That tells us the underlying value is holding steady even when monthly sales get choppy.

• Average HonestDoor Price (houses): $1,410,899
• Average assessed value: $1,403,511
• HonestDoor Price is 0.53% above the Surrey average assessed value
• Price per square foot: $590
• Estimated rent: $5,256 per month
• Airbnb potential: $261 per night
• Total transactions in 2026: 20
• Transaction volume rank in Surrey: 5 out of 45 - that's top tier activity
• House growth rank in Surrey: 27 out of 45 - below average, but not the bottom

On the neighbourhood leaderboard, South Westminster houses rank 27th out of 45 Surrey neighbourhoods for growth, and 28th for price. We're sitting in the middle of the pack. Not leading the charge, but not falling behind either. Whalley next door is slightly pricier at $1,480,443 but growing slower. Bridgeview is cheaper at $1,378,599 and also growing slower. For houses, we're holding a reasonable position.

The Vibe: What's Happening With Condos Right Now

Here's where South Westminster gets interesting for condo owners. The HonestDoor Price for condos is $523,251 - and that number is 13% higher than the average assessed value of $463,066. That is a meaningful gap. If you're a condo owner relying on your tax assessment to understand what your unit is worth, you're likely underselling yourself.

The predicted market value is even higher at $533,736, and it's climbing past the 3-month moving average of $525,909. Condo values here have moved up 1.33% recently, which earns South Westminster a growth rank of 9th out of 44 Surrey neighbourhoods. That puts us in above-average territory - a genuinely solid position.

• Average HonestDoor Price (condos): $523,251
• Average assessed value: $463,066
• HonestDoor Price is 13% above the Surrey average assessed value
• Average sale price this month: $345,833
• Price per square foot: $438
• Estimated rent: $2,540 per month
• Rental yield: 3.81%
• Airbnb potential: $126 per night
• Condo growth rank in Surrey: 9 out of 44 - above average
• Condo price rank in Surrey: 27 out of 27 - most affordable tier

That combination - most affordable price rank but above-average growth - is worth paying attention to. Compared to nearby condos, Whalley is cheaper at $466,542 but growing slower. Downtown is much pricier at $700,148. South Westminster condos are the value play in this corner of Surrey right now.

The Secret Sauce: Why Your HonestDoor Price Is the Number That Actually Matters

Your BC Assessment is a snapshot taken in July of last year. It doesn't know what happened in the market last month. It doesn't factor in recent sales on your street or the shift in buyer demand this spring. It's a useful baseline for your tax bill - and that's about it.

The HonestDoor Price is updated in real time using actual transaction data. For houses in South Westminster, it's already $7,388 above the assessed value. For condos, the gap is $60,185. That's not a rounding error - that's real money sitting on the table if you're pricing based on an outdated government number.

With 4,380 house properties and 339 condo properties assessed in South Westminster this year, there's a solid data foundation here. But assessed values move slowly. The HonestDoor Price moves with the market. Those are two very different tools, and right now, only one of them reflects what a buyer would actually pay.

The So What: Should You Sell in South Westminster This Summer?

Here's the honest take. If you own a house, the market is quiet but not broken. One sale a month is thin, and the growth rate sitting at 27th out of 45 means we're not in a seller's frenzy. But the predicted value is trending up, and South Westminster's transaction volume rank of 5th in Surrey means buyers do show up here. If you price right - based on the HonestDoor Price, not last year's assessment - you have a real shot at a clean sale.

If you own a condo, the case for selling this summer is stronger. You're in a top-10 growth neighbourhood, your HonestDoor Price is running well ahead of your assessed value, and the predicted value is still climbing. The rental yield of 3.81% means investors are watching this segment. That's your buyer pool.

Either way, the move is the same - check your HonestDoor Price before you have a single conversation with an agent. Know your real number first. Everything else follows from there.

This information is all based on our opinions based on the information available to us. Everyone's situation may be different and you should reach out to us for more personalized information.