Is Westwood, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Westwood has remained a Seller's Market.
Housing Prices in Westwood, CA
How much do homes in Westwood, CA cost?
Median Sold Price
$1,282,500
$818/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Westwood was $1,282,500 in April 2024, up 6.8% from last year, and the median price per square foot was $818.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $642.5K | $665K | +3.5% |
2 Bedrooms | $1.0M | $1.0M | +4.4% |
3 Bedrooms | $2.6M | $2.2M | -16.3% |
4 Bedrooms | $2.9M | $3.2M | +11.3% |
5+ Bedrooms | $4.7M | $3.8M | -18.9% |
Summary: Westwood housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.5%, 2 bedroom homes increased by 4.4%, 3 bedroom homes decreased by 16.3%, 4 bedroom homes increased by 11.3%, and 5+ bedroom homes decreased by 18.9%.
Median Sold Price Compared To Nearby Neighborhoods
Westwood | $1.2M | $1.2M | +6.8% |
Holmby Hills | $1.6M | $1.4M | -11.6% |
Housing Supply in Westwood, CA
How many homes are available in Westwood, CA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
115 | 136 | +18.3% |
Summary: The Westwood real estate market had 136 homes for sale in April 2024, a 18.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 19 | 18 | -5.3% |
2 Bedrooms | 48 | 66 | +37.5% |
3 Bedrooms | 15 | 15 | 0.0% |
4 Bedrooms | 14 | 15 | +7.1% |
5+ Bedrooms | 19 | 22 | +15.8% |
Summary: The Westwood housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 5.3%, 2 bedroom homes increased by 37.5%, 3 bedroom homes remained the same, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes increased by 15.8%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
27 | 26 | -3.7% |
Asking Price vs. Sold Price
15 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Summary: A total of 26 homes were sold or pending in Westwood in April 2024, down by 3.7% month-over-month. Of the 26 sold homes, 58% were sold under asking, 12% were sold at asking, and 31% were sold over asking.
Days on Market for Westwood, CA
How long does it take to sell a home in Westwood, CA?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
48 Days | 36 Days | -25.1% |
Summary: Homes in Westwood had an average of 36 days on market in Apr 2024, down by 25.1% compared to last year.
Breakdown of Home Sale Times
17 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During April 2024, 26 homes were sold in Westwood; 65% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.