Is Westfield, MA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Westfield is a seller's market

Buyer's
Market

Difference Since February 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

$329,975

$208/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$19,975(+6.4%)

Key Takeaway

Homes in Westfield have sold for 6.4% more than they did a year ago.

Summary: The median home sold price in Westfield was $329,975 in February 2024, up 6.4% from last year, and the median price per square foot was $208.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $165.3K$177.5K
+7.3%
2 $223.7K$243K
+8.6%
3 $320K$335K
+4.7%
4 $345K$417.5K
+21.0%
5+ $355K$400K
+12.7%

Summary: Westfield housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.3%, 2 bedroom homes increased by 8.6%, 3 bedroom homes increased by 4.7%, 4 bedroom homes increased by 21%, and 5+ bedroom homes increased by 12.7%.

Median Sold Price Compared To Nearby Cities

Southwick
+8.0%
Westfield
+6.4%
West Springfield
+2.0%

Housing Supply in Westfield, MA

How many homes are available in Westfield, MA?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
6669+4.5%

Summary: The Westfield real estate market had 69 homes for sale in February 2024, a 4.5% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 11
0.0%
2 910
+11.1%
3 3633
-8.3%
4 1418
+28.6%
5+ 67
+16.7%

Summary: The Westfield housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 11.1%, 3 bedroom homes decreased by 8.3%, 4 bedroom homes increased by 28.6%, and 5+ bedroom homes increased by 16.7%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
1617+6.3%

Asking Price vs. Sold Price

4 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 Westfield, you could pay more than the asking price. 64.7% of homes here sold above asking price last month.

Summary: A total of 17 homes were sold or pending in Westfield in February 2024, up by 6.3% month-over-month. Of the 17 sold homes, 24% were sold under asking, 12% were sold at asking, and 65% 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

Feb 2023Feb 2024CHANGE
28 Days23 Days-17.6%

Summary: Homes in Westfield had an average of 23 days on market in Feb 2024, down by 17.6% compared to last year.

Breakdown of Home Sale Times

12 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During February 2024, 17 homes were sold in Westfield; 71% of homes were sold within 30 days, 24% 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 4 Days Ago

Newest Listings in Westfield, MA

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