Is Westminster, CO a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Westminster is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Westminster has remained a Seller's Market.

Key Takeaway

Westminster is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Westminster, CO

How much do homes in Westminster, CO cost?

Median Sold Price

$518,250

$278/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$5,750(+1.1%)

Key Takeaway

Homes in Westminster have sold for 1.1% more than they did a year ago.

Summary: The median home sold price in Westminster was $518,250 in May 2024, up 1.1% from last year, and the median price per square foot was $278.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $253.5K$235K
-7.3%
2 $381K$415K
+8.9%
3 $505K$493K
-2.4%
4 $556.5K$600K
+7.8%
5+ $665K$595K
-10.5%

Summary: Westminster housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 7.3%, 2 bedroom homes increased by 8.9%, 3 bedroom homes decreased by 2.4%, 4 bedroom homes increased by 7.8%, and 5+ bedroom homes decreased by 10.5%.

Median Sold Price Compared To Nearby Cities

Arvada
+4.3%
Westminster
+1.2%
Westminster
+1.1%
West Adams
+0.9%

Housing Supply in Westminster, CO

How many homes are available in Westminster, CO?

Number of Homes For Sale

Apr 2024May 2024CHANGE
170229+34.7%

Summary: The Westminster real estate market had 229 homes for sale in May 2024, a 34.7% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 89
+12.5%
2 2540
+60.0%
3 5874
+27.6%
4 5268
+30.8%
5+ 2738
+40.7%

Summary: The Westminster housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 12.5%, 2 bedroom homes increased by 60%, 3 bedroom homes increased by 27.6%, 4 bedroom homes increased by 30.8%, and 5+ bedroom homes increased by 40.7%.

Number of Homes Sold

Apr 2024May 2024CHANGE
3656+55.6%

Asking Price vs. Sold Price

31 Homes Were Sold
Under Asking

13 Homes Were Sold
At Asking

12 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Westminster, you may be able to get a good deal. 55.4% of homes here sold below asking price last month.

Summary: A total of 56 homes were sold or pending in Westminster in May 2024, up by 55.6% month-over-month. Of the 56 sold homes, 55% were sold under asking, 23% were sold at asking, and 21% were sold over asking.

Days on Market for Westminster, CO

How long does it take to sell a home in Westminster, CO?

Average Sale Time

May 2023May 2024CHANGE
15 Days29 Days+97.3%

Summary: Homes in Westminster had an average of 29 days on market in May 2024, up by 97.3% compared to last year.

Breakdown of Home Sale Times

41 Homes Were Sold
Under 30 Days

9 Homes Were Sold
In 30 - 90 Days

6 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Westminster are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 56 homes were sold in Westminster; 73% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 3 Days Ago

Newest Listings in Westminster, CO

Nearby Markets to Westminster, CO

What housing markets are near Westminster, CO?