Is Westwood, CA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Westwood is a seller's market

Buyer's
Market

Difference Since October 2023

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

Key Takeaway

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

Housing Prices in Westwood, CA

How much do homes in Westwood, CA cost?

Median Sold Price

$1,235,000

$821/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

-$15,000(-1.2%)

Key Takeaway

Homes in Westwood have sold for 1.2% less than they did a year ago.

Summary: The median home sold price in Westwood was $1,235,000 in October 2024, down 1.2% from last year, and the median price per square foot was $821.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $660K$643.5K
-2.5%
2 $1.0M$1.0M
+2.7%
3 $2.1M$2.2M
+2.8%
4 $3.0M$3.5M
+16.4%
5+ $4.5M$4.5M
-0.1%

Summary: Westwood housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2.5%, 2 bedroom homes increased by 2.7%, 3 bedroom homes increased by 2.8%, 4 bedroom homes increased by 16.4%, and 5+ bedroom homes decreased by 0.1%.

Housing Supply in Westwood, CA

How many homes are available in Westwood, CA?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
128142+10.9%

Summary: The Westwood real estate market had 142 homes for sale in October 2024, a 10.9% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 1915
-21.1%
2 5963
+6.8%
3 2028
+40.0%
4 1518
+20.0%
5+ 1518
+20.0%

Summary: The Westwood housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 21.1%, 2 bedroom homes increased by 6.8%, 3 bedroom homes increased by 40%, 4 bedroom homes increased by 20%, and 5+ bedroom homes increased by 20%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
1926+36.8%

Asking Price vs. Sold Price

13 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

11 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Westwood, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 26 homes were sold or pending in Westwood in October 2024, up by 36.8% month-over-month. Of the 26 sold homes, 50% were sold under asking, 8% were sold at asking, and 42% 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

Oct 2023Oct 2024CHANGE
27 Days49 Days+79.2%

Summary: Homes in Westwood had an average of 49 days on market in Oct 2024, up by 79.2% compared to last year.

Breakdown of Home Sale Times

15 Homes Were Sold
Under 30 Days

7 Homes Were Sold
In 30 - 90 Days

4 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 26 homes were sold in Westwood; 58% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 15% 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 6 Days Ago

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