Is Westfield, MA 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, Westfield has remained a Seller's Market.
Key Takeaway
Westfield is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Westfield, MA
How much do homes in Westfield, MA cost?
Median Sold Price
$350,000
$214/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Westfield have sold for 13.5% more than they did a year ago.
Summary: The median home sold price in Westfield was $350,000 in May 2024, up 13.5% from last year, and the median price per square foot was $214.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $155.7K | $215.5K | +38.4% |
| 2 Bedrooms | $231K | $240K | +3.9% |
| 3 Bedrooms | $320K | $349.9K | +9.3% |
| 4 Bedrooms | $350K | $431.5K | +23.3% |
| 5+ Bedrooms | $340K | $445K | +30.9% |
Summary: Westfield housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 38.4%, 2 bedroom homes increased by 3.9%, 3 bedroom homes increased by 9.3%, 4 bedroom homes increased by 23.3%, and 5+ bedroom homes increased by 30.9%.
Median Sold Price Compared To Nearby Cities
| Westfield | $308.5K | $350K | +13.5% |
| Southwick | $380K | $431.2K | +13.5% |
| West Springfield | $300K | $305K | +1.7% |
Housing Supply in Westfield, MA
How many homes are available in Westfield, MA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 99 | 112 | +13.1% |
Summary: The Westfield real estate market had 112 homes for sale in May 2024, a 13.1% 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 | 19 | 18 | -5.3% |
| 3 Bedrooms | 42 | 50 | +19.0% |
| 4 Bedrooms | 27 | 28 | +3.7% |
| 5+ Bedrooms | 11 | 16 | +45.5% |
Summary: The Westfield 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 decreased by 5.3%, 3 bedroom homes increased by 19%, 4 bedroom homes increased by 3.7%, and 5+ bedroom homes increased by 45.5%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 23 | 36 | +56.5% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
25 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Westfield, you could pay more than the asking price. 69.4% of homes here sold above asking price last month.
Summary: A total of 36 homes were sold or pending in Westfield in May 2024, up by 56.5% month-over-month. Of the 36 sold homes, 14% were sold under asking, 17% were sold at asking, and 69% were sold over asking.
Days on Market for Westfield, MA
How long does it take to sell a home in Westfield, MA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 35 Days | 29 Days | -15.5% |
Summary: Homes in Westfield had an average of 29 days on market in May 2024, down by 15.5% compared to last year.
Breakdown of Home Sale Times
26 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Westfield are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 36 homes were sold in Westfield; 72% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
Copyright © 2024 Smart MLS. The data relating to real estate for sale on this website appears in part through the SMARTMLS Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms, and is provided by SMARTMLS through a licensing agreement. Listing information is from various brokers who participate in the SMARTMLS IDX program and not all listings may be visible on the site. The property information being provided on or through the website is for the personal, non-commercial use of consumers and such information may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on the website may no longer be available because they are for instance, under contract, sold or are no longer being offered for sale. Property information displayed is deemed reliable but is not guaranteed.