South Westminster, Surrey - September 2026 Real Estate Report

South Westminster, Surrey: Your Home Is Worth More Than the City Thinks - Or Is It?

If you've been watching the "For Sale" signs in South Westminster lately, here's what's actually happening. The market is taking a breather. Values are drifting slightly, sales are quiet, but the story is different depending on whether you own a house or a condo. Let's break it down.

The Vibe: Houses vs. Condos in South Westminster

Houses

We're sitting in a market that's holding steady but losing a little steam. The average HonestDoor Price for a house here is $1,387,030 - down 1.69% from the previous period. The 3-month moving average is $1,416,137, and the current predicted value of $1,415,131 is just below that. Not a cliff drop, but a slow slide worth watching.

• Average HonestDoor Price: $1,387,030
• Predicted Market Value: $1,415,131
• Average Sale Price (2026): $881,000
• Price Per Square Foot: $467
• Properties Sold (recent): 5
• Estimated Monthly Rent: $5,256
• Rental Yield: 4.22%
• Neighbourhood Growth Rank: 14 out of 46 in Surrey - above average

On the neighbourhood leaderboard, our houses rank 14th out of 46 for growth in Surrey. That's a solid position - we're beating more than half the city. For price, we rank 34th out of 45, which puts us on the more affordable end compared to other Surrey neighbourhoods. That combination - above-average growth, below-average price - is actually a decent place to be if you're thinking about long-term value.

Only 24 transactions happened in South Westminster in 2026 across all property types, and houses accounted for the bulk of that action. With 4,380 properties assessed this year, the transaction volume is thin. Low supply of sales can cut both ways - it keeps prices from crashing, but it also means buyers have fewer data points to negotiate against you.

Condos

The condo picture is more complicated. On one hand, the HonestDoor Price of $526,040 is actually up 0.53% from the previous period - a rare green number in this update. On the other hand, the predicted value of $523,251 is sliding below the 3-month moving average of $527,900, and recent property value change sits at -1.96%. That's a number that deserves attention.

• Average HonestDoor Price: $526,040
• Predicted Market Value: $523,251
• Average Sale Price (2026): $345,833
• Price Per Square Foot: $438
• Properties Sold (recent): 3
• Estimated Monthly Rent: $2,540
• Rental Yield: 3.82%
• Neighbourhood Growth Rank: 37 out of 44 in Surrey - bottom performers

On the neighbourhood leaderboard, our condos rank 37th out of 44 for growth. That puts us near the back of the pack. For price, we rank 26th out of 27 - meaning we're among the most affordable condos in all of Surrey. If you're a buyer, that's interesting. If you're a seller, it means you're competing hard on price with very little room to push higher.

One bright spot - the HonestDoor Price of $526,040 is 13.60% higher than the average assessed value of $463,066. That gap matters, and we'll get to why in a second.

The Secret Sauce: Why Your HonestDoor Price Matters More Than Your Tax Assessment Right Now

Here's the thing about your city assessment - it's a snapshot from the past. The BC Assessment process uses data from July 1 of the prior year. By the time that number lands in your mailbox, the market has already moved on.

The HonestDoor Price is a real-world check updated in real time. For houses in South Westminster, the HonestDoor Price of $1,387,030 is actually 1.17% lower than the average assessed value of $1,403,511. That means if you're pricing your house based on your assessment alone, you might be starting the conversation too high - and sitting on the market longer than you need to.

For condos, it's the opposite story. The HonestDoor Price of $526,040 is 13.60% above the assessed value of $463,066. If you own a condo here and you're only looking at your tax assessment, you're potentially leaving real money on the table before you even list.

With 4,380 houses and 339 condos assessed this year, there's a lot of property in this neighbourhood. Knowing which direction your HonestDoor Price is moving - not just where it sits today - is the edge most sellers don't bother to check.

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

If you own a house in South Westminster and you're thinking about listing this summer, the window is open but it's not getting wider. Values are drifting down slightly, transaction volume is low at just 5 recent sales, and the market isn't exactly buzzing. That said, our growth rank of 14th out of 46 means we're still outperforming most of Surrey. Pricing sharp and moving fast matters more right now than holding out for a number that may not come.

If you own a condo, the honest answer is that this is a tougher sell. Growth ranks 37th out of 44, recent value change is -1.96%, and only 3 condos sold recently. The rental yield of 3.82% makes holding it as an investment a reasonable play if you're not in a rush. But if you need to sell, price it to move - because buyers in this segment have options and they know it.

For both property types, the smartest first move is checking your HonestDoor Price before you call an agent. It's the number that reflects what's happening right now - not what the city decided last July.

• Airbnb potential: $258 per night for houses, $127 per night for condos
• South Westminster Airbnb ranks 27th in Surrey for houses
• Total transaction volume ranks 7th in Surrey - meaning we do move properties here
• Nearby comparison: Whalley houses are priced higher at $1,471,128 but growing slower
• Nearby comparison: Downtown condos are priced much higher at $703,977 but also growing faster

Bottom line - South Westminster is not a market in freefall. It's a market catching its breath. The moves you make in the next 60 days, priced right and informed by real data, will determine whether this summer works for you or against you.

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.