Is Westwood, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Westwood was a Buyer'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, MI
How much do homes in Westwood, MI cost?
Median Sold Price
$170,250
$162/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Westwood have sold for 4.8% more than they did a year ago.
Summary: The median home sold price in Westwood was $170,250 in April 2024, up 4.8% from last year, and the median price per square foot was $162.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $170K | N/A |
| 2 Bedrooms | $136.5K | $149K | +9.2% |
| 3 Bedrooms | $167K | $185K | +10.8% |
| 4 Bedrooms | $174.5K | $170.5K | -2.3% |
| 5+ Bedrooms | - | - | N/A |
Summary: Westwood housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 9.2%, 3 bedroom homes increased by 10.8%, 4 bedroom homes decreased by 2.3%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| Duvall / Edison | $214K | $248.9K | +16.3% |
| Westwood | $162.5K | $170.2K | +4.8% |
| Crestview | $215K | $215K | 0.0% |
Housing Supply in Westwood, MI
How many homes are available in Westwood, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 12 | 15 | +25.0% |
Summary: The Westwood real estate market had 15 homes for sale in April 2024, a 25.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 4 | 4 | 0.0% |
| 3 Bedrooms | 5 | 9 | +80.0% |
| 4 Bedrooms | 2 | 1 | -50.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Westwood housing inventory by bedroom type for April 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 80%, 4 bedroom homes decreased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 3 | 5 | +66.7% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Westwood, expect to pay close to the asking price. 40% of homes here sold near the asking price last month.
Summary: A total of 5 homes were sold or pending in Westwood in April 2024, up by 66.7% month-over-month. Of the 5 sold homes, 20% were sold under asking, 40% were sold at asking, and 40% were sold over asking.
Days on Market for Westwood, MI
How long does it take to sell a home in Westwood, MI?
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Westwood are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 5 homes were sold in Westwood; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
