Is Westfield, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 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
$352,250
$215/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Key Takeaway
Homes in Westfield have sold for 16.3% more than they did a year ago.
Summary: The median home sold price in Westfield was $352,250 in June 2024, up 16.3% from last year, and the median price per square foot was $215.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $195.3K | $177.5K | -9.1% |
| 2 Bedrooms | $226.5K | $247.9K | +9.5% |
| 3 Bedrooms | $316.7K | $350K | +10.5% |
| 4 Bedrooms | $364K | $421K | +15.7% |
| 5+ Bedrooms | $330K | $445K | +34.8% |
Summary: Westfield housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 9.1%, 2 bedroom homes increased by 9.5%, 3 bedroom homes increased by 10.5%, 4 bedroom homes increased by 15.7%, and 5+ bedroom homes increased by 34.8%.
Median Sold Price Compared To Nearby Cities
| Russell | $287K | $361K | +25.8% |
| Westfield | $303K | $352.2K | +16.3% |
| 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
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 118 | 99 | -16.1% |
Summary: The Westfield real estate market had 99 homes for sale in June 2024, a 16.1% decrease compared to May 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 21 | 18 | -14.3% |
| 3 Bedrooms | 51 | 41 | -19.6% |
| 4 Bedrooms | 29 | 24 | -17.2% |
| 5+ Bedrooms | 17 | 16 | -5.9% |
Summary: The Westfield housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 14.3%, 3 bedroom homes decreased by 19.6%, 4 bedroom homes decreased by 17.2%, and 5+ bedroom homes decreased by 5.9%.
Number of Homes Sold
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 39 | 27 | -30.8% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
22 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Westfield, you could pay more than the asking price. 81.5% of homes here sold above asking price last month.
Summary: A total of 27 homes were sold or pending in Westfield in June 2024, down by 30.8% month-over-month. Of the 27 sold homes, 15% were sold under asking, 4% were sold at asking, and 81% 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
| Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|
| 30 Days | 20 Days | -33.8% |
Summary: Homes in Westfield had an average of 20 days on market in Jun 2024, down by 33.8% compared to last year.
Breakdown of Home Sale Times
24 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Westfield are selling fast, if you're buying plan to act quickly.
Summary: During June 2024, 27 homes were sold in Westfield; 89% of homes were sold within 30 days, 7% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
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