Is Westwood, MA 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 March 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, MA

How much do homes in Westwood, MA cost?

Median Sold Price

$1,100,000

$477/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

-$26,000(-2.3%)

Key Takeaway

Homes in Westwood have sold for 2.3% less than they did a year ago.

Summary: The median home sold price in Westwood was $1,100,000 in March 2024, down 2.3% from last year, and the median price per square foot was $477.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 -$562.5K
N/A
2 $760K$735K
-3.3%
3 $862.5K$910K
+5.5%
4 $1.2M$1.3M
+9.4%
5+ $1.9M$1.8M
-5.4%

Summary: Westwood housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 3.3%, 3 bedroom homes increased by 5.5%, 4 bedroom homes increased by 9.4%, and 5+ bedroom homes decreased by 5.4%.

Median Sold Price Compared To Nearby Cities

Canton
+9.5%
Dedham
+6.6%
Walpole
+4.8%
Norwood
0.0%
Westwood
-2.3%

Housing Supply in Westwood, MA

How many homes are available in Westwood, MA?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
3745+21.6%

Summary: The Westwood real estate market had 45 homes for sale in March 2024, a 21.6% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 11
0.0%
2 66
0.0%
3 810
+25.0%
4 1116
+45.5%
5+ 1112
+9.1%

Summary: The Westwood housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 25%, 4 bedroom homes increased by 45.5%, and 5+ bedroom homes increased by 9.1%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
312+300.0%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

7 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Westwood, you could pay more than the asking price. 58.3% of homes here sold above asking price last month.

Summary: A total of 12 homes were sold or pending in Westwood in March 2024, up by 300.0% month-over-month. Of the 12 sold homes, 42% were sold under asking, 0% were sold at asking, and 58% were sold over asking.

Days on Market for Westwood, MA

How long does it take to sell a home in Westwood, MA?

Average Sale Time

Mar 2023Mar 2024CHANGE
66 Days76 Days+14.7%

Summary: Homes in Westwood had an average of 76 days on market in Mar 2024, up by 14.7% compared to last year.

Breakdown of Home Sale Times

9 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

2 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 March 2024, 12 homes were sold in Westwood; 75% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 17% 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 18 Days Ago

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