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

$540,500

$294/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$6,500(+1.2%)

Key Takeaway

Homes in Westminster have sold for 1.2% more than they did a year ago.

Summary: The median home sold price in Westminster was $540,500 in May 2024, up 1.2% from last year, and the median price per square foot was $294.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $253.5K$255K
+0.6%
2 $383K$395K
+3.1%
3 $530K$525K
-0.9%
4 $595K$610K
+2.5%
5+ $695K$715K
+2.9%

Summary: Westminster housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 0.6%, 2 bedroom homes increased by 3.1%, 3 bedroom homes decreased by 0.9%, 4 bedroom homes increased by 2.5%, and 5+ bedroom homes increased by 2.9%.

Median Sold Price Compared To Nearby Cities

Broomfield
+2.1%
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
382489+28.0%

Summary: The Westminster real estate market had 489 homes for sale in May 2024, a 28.0% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 1316
+23.1%
2 88114
+29.5%
3 125162
+29.6%
4 97122
+25.8%
5+ 5975
+27.1%

Summary: The Westminster housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 23.1%, 2 bedroom homes increased by 29.5%, 3 bedroom homes increased by 29.6%, 4 bedroom homes increased by 25.8%, and 5+ bedroom homes increased by 27.1%.

Number of Homes Sold

Apr 2024May 2024CHANGE
96125+30.2%

Asking Price vs. Sold Price

52 Homes Were Sold
Under Asking

30 Homes Were Sold
At Asking

43 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. 41.6% of homes here sold below asking price last month.

Summary: A total of 125 homes were sold or pending in Westminster in May 2024, up by 30.2% month-over-month. Of the 125 sold homes, 42% were sold under asking, 24% were sold at asking, and 34% 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
13 Days21 Days+57.7%

Summary: Homes in Westminster had an average of 21 days on market in May 2024, up by 57.7% compared to last year.

Breakdown of Home Sale Times

98 Homes Were Sold
Under 30 Days

20 Homes Were Sold
In 30 - 90 Days

7 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, 125 homes were sold in Westminster; 78% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 6% 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 1 Day Ago

Newest Listings in Westminster, CO

Nearby Markets to Westminster, CO

What housing markets are near Westminster, CO?