South Westminster, Surrey - July 2026 Real Estate Report

South Westminster, Surrey: Your Home Is Worth More Than the City Thinks

If you have been watching the "For Sale" signs in South Westminster and wondering what is actually going on with prices, here is the straight answer: the market is holding steady, the city's assessment is already behind the curve, and your HonestDoor Price tells a more honest story.

The Vibe: Houses vs. Condos in South Westminster

Let's break down what is happening for us right here in the neighbourhood, depending on what you own.

Houses

Our houses are sitting at an average HonestDoor Price of $1,412,150. The city's assessed value is $1,403,511 - so the real-world number is already running $8,639 ahead of what the tax office has on file. The predicted market value is even higher at $1,416,893, and that figure is climbing past the 3-month moving average of $1,404,641. That is a signal that momentum, while modest, is pointing up.

• Average HonestDoor Price: $1,412,150
• Average assessed value: $1,403,511
• Predicted market value: $1,416,893
• Average sale price: $1,345,500
• Price per square foot: $543
• Estimated monthly rent: $5,261
• Rental yield: 4.22%
• Recent value change: 1.19%
• Growth rank: 10 out of 41 neighbourhoods in Surrey - above average
• Price rank: 17 out of 45 neighbourhoods in Surrey - above average

On the leaderboard, South Westminster houses rank 10th for growth out of 41 Surrey neighbourhoods. That puts us solidly in the top quarter. Compare that to nearby Whalley and Bridgeview, both of which are declining faster than we are. We are not leading the pack, but we are beating most of the competition.

Condos

This is where the numbers get interesting. The city has our condos assessed at an average of $463,066. The HonestDoor Price? $533,736. That is a gap of over $70,000 - and the HonestDoor Price is up 1.33% from the previous period. If you own a condo here and you are only looking at your tax assessment, you are leaving a significant chunk of your equity invisible.

• Average HonestDoor Price: $533,736 (up 1.33%)
• Average assessed value: $463,066
• Predicted market value: $526,713
• Average sale price: $442,933
• Price per square foot: $494
• Estimated monthly rent: $2,538
• Rental yield: 3.82%
• Recent value change: 1.82%
• Growth rank: 9 out of 42 neighbourhoods in Surrey - above average

Condo growth ranks 9th out of 42 Surrey neighbourhoods. That is top-quarter performance. The predicted value of $526,713 is also running ahead of the 3-month moving average of $513,161, which means the trend line is moving in the right direction. For context, our condos are priced higher than Whalley ($475,313 predicted) and are holding their own.

The Secret Sauce: Why Your HonestDoor Price Matters Right Now

Here is the thing about government assessments - they are a snapshot from last year, built on sales data that is already months old by the time it lands in your mailbox. The city is not trying to mislead you. It is just slow by design.

The HonestDoor Price is a real-time check on what your property is actually worth today, not what it was worth when someone in an office was crunching last year's numbers. For South Westminster condo owners, that difference is $70,670. For house owners, it is $8,639. Those are not rounding errors - that is real money that affects your decisions about refinancing, selling, or even just knowing where you stand.

With 4,380 houses and 339 condos assessed in the neighbourhood this year, there is a solid data foundation behind these numbers. This is not a thin market guess. It is a well-supported estimate.

The "So What?" - Thinking About Selling This Summer?

If selling is on your radar, here is what the data is telling you right now.

For house sellers, the market is not running hot, but it is not cooling off either. One house sold recently, the predicted value is ticking up past the 3-month average, and we rank above average in both price and growth across Surrey. Buyers looking at South Westminster are comparing us to Whalley and Bridgeview - and on growth, we are beating both. That is a talking point worth having with your agent.

For condo sellers, the story is even sharper. The HonestDoor Price is 15.26% higher than the average assessed value in Surrey. Condo values have moved 1.82% recently, growth ranks 9th out of 42 neighbourhoods, and the predicted value is climbing. Three condos sold in 2026 so far - a thin number, but the price trend is supportive.

The honest advice? Do not price off your assessment. Check your HonestDoor Price first. It is the number that reflects what a buyer would actually pay today - and in South Westminster right now, that number is higher than what the city has on file.

• House growth rank: 10 out of 41 Surrey neighbourhoods
• Condo growth rank: 9 out of 42 Surrey neighbourhoods
• Total transaction rank in Surrey: 6th for houses, 8th for condos
• Neighbourhood average Airbnb rate: $261 per night (houses), $127 per night (condos)

South Westminster is not the flashiest name in Surrey real estate right now. But the numbers show a neighbourhood that is holding value, beating most of its peers on growth, and sitting on an assessment gap that owners should know about before they make any big decisions.

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.