If you've been watching the "For Sale" signs on your street in Westminster, here's what's actually happening. The average HonestDoor Price for a house sits at $701,206. That number is down 0.83% from last period, and the 3-month trend tells a similar story - values have pulled back 3.52% recently, with the moving average sitting at $722,195. The market is taking a breather. It's not a crash, but it's not a seller's paradise either.
There's no condo data in the mix for Westminster right now, so we're talking houses exclusively. And for us homeowners here, the picture is one of a solid, established neighbourhood that's just cooling off a touch after a strong run.
Here's the honest part. Westminster ranks 8 out of 8 neighbourhoods tracked in Dollard-Des Ormeaux for growth right now. Dead last. That stings a little, but context matters. Your home is still worth over $700,000. Being at the bottom of a leaderboard in DDO is very different from being at the bottom in most other cities. Still, if you're comparing your street to Lacey Green - where the average HonestDoor Price is $1,108,388 - there's a clear gap in where the money is moving.
Your city assessment is a snapshot taken in the past. It doesn't know what happened on your street last month. The HonestDoor Price is updated in real time, pulling in actual sales data to give you a live read on what your home is worth today - not what a government office decided it was worth a year or two ago.
Right now, the predicted market value for Westminster houses is $707,093. That's your real-world number. If your tax assessment is sitting well below that, you're potentially leaving money on the table in a sale conversation. If it's above that, you want to know before you price your home wrong and watch it sit. Either way, the HonestDoor Price is the number that actually reflects today's market - not a static figure from a municipal spreadsheet.
Here's the straight talk. The trend is pointing down, not up. Values have dropped 3.52% recently and the 3-month moving average of $722,195 is above where prices are predicted to land. That means if you're thinking about selling, waiting is not obviously going to reward you right now.
The good news? Westminster still has real income potential working in its favour. Rental estimates come in at $3,301 per month with a rental yield of 5.23% - that's a strong number and makes your property attractive to investors, not just families looking to move in. Your Airbnb rank in DDO is 7 out of the neighbourhoods tracked, with an estimated $164 per night, so there's a short-term rental story here too if a buyer wants to run the numbers.
If you're selling this summer, price it sharp and price it right. A home sitting at $701,000 that's priced at $750,000 because the owner is anchored to last year's peak will just sit there. Buyers in this market are paying attention. So should we.
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.