Is Westminster, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Westminster has remained a Seller's Market.
Housing Prices in Westminster, CA
How much do homes in Westminster, CA cost?
Median Sold Price
$1,022,666
$611/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Westminster was $1,022,666 in May 2024, up 14.1% from last year, and the median price per square foot was $611.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $674.9K | $705K | +4.5% |
3 Bedrooms | $860K | $927.5K | +7.8% |
4 Bedrooms | $985K | $1.1M | +13.7% |
5+ Bedrooms | $1.1M | $1.2M | +8.4% |
Summary: Westminster housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 4.5%, 3 bedroom homes increased by 7.8%, 4 bedroom homes increased by 13.7%, and 5+ bedroom homes increased by 8.4%.
Median Sold Price Compared To Nearby Cities
Westminster | $896K | $1.0M | +14.1% |
North Coast | $1.0M | $1.1M | +10.6% |
Garden Grove | $805K | $887.7K | +10.3% |
Huntington Beach | $1.1M | $1.2M | +8.5% |
Midway City | $872.5K | $915K | +4.9% |
Housing Supply in Westminster, CA
How many homes are available in Westminster, CA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
75 | 76 | +1.3% |
Summary: The Westminster real estate market had 76 homes for sale in May 2024, a 1.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 8 | 9 | +12.5% |
3 Bedrooms | 28 | 25 | -10.7% |
4 Bedrooms | 33 | 36 | +9.1% |
5+ Bedrooms | 6 | 6 | 0.0% |
Summary: The Westminster housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 12.5%, 3 bedroom homes decreased by 10.7%, 4 bedroom homes increased by 9.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
22 | 33 | +50.0% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
18 Homes Were Sold
Over Asking
Summary: A total of 33 homes were sold or pending in Westminster in May 2024, up by 50.0% month-over-month. Of the 33 sold homes, 27% were sold under asking, 18% were sold at asking, and 55% were sold over asking.
Days on Market for Westminster, CA
How long does it take to sell a home in Westminster, CA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
18 Days | 16 Days | -10.9% |
Summary: Homes in Westminster had an average of 16 days on market in May 2024, down by 10.9% compared to last year.
Breakdown of Home Sale Times
28 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 33 homes were sold in Westminster; 85% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.