$10,000 Closing Credit*
$1,199,000
4 Beds
•2 Full Baths, 1 Partial
Listing Office: COLDWELL BANKER REALTY
Is Westfield, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since December 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, NJ
How much do homes in Westfield, NJ cost?
Median Sold Price
$1,200,000
$454/sqft
Based on all homes sold in the last 12 months.
Difference Since December 2023
+$136,333(+12.8%)
Key Takeaway
Homes in Westfield have sold for 12.8% more than they did a year ago.
Summary: The median home sold price in Westfield was $1,200,000 in December 2024, up 12.8% from last year, and the median price per square foot was $454.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $335K | - | N/A |
| 2 Bedrooms | $553K | $655K | +18.4% |
| 3 Bedrooms | $747K | $869.5K | +16.4% |
| 4 Bedrooms | $1.1M | $1.2M | +5.6% |
| 5+ Bedrooms | $1.6M | $1.7M | +3.0% |
Summary: Westfield housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 18.4%, 3 bedroom homes increased by 16.4%, 4 bedroom homes increased by 5.6%, and 5+ bedroom homes increased by 3%.
Median Sold Price Compared To Nearby Cities
| Garwood | $529.5K | $673K | +27.1% |
| Westfield | $1.0M | $1.2M | +12.8% |
| Scotch Plains | $722.5K | $782K | +8.2% |
| Scotch Plains Township | $735K | $785K | +6.8% |
| Mountainside | $854K | $905K | +6.0% |
Housing Supply in Westfield, NJ
How many homes are available in Westfield, NJ?
Number of Homes For Sale
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 75 | 56 | -25.3% |
Summary: The Westfield real estate market had 56 homes for sale in December 2024, a 25.3% decrease compared to November 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 4 | 6 | +50.0% |
| 3 Bedrooms | 17 | 13 | -23.5% |
| 4 Bedrooms | 20 | 11 | -45.0% |
| 5+ Bedrooms | 33 | 25 | -24.2% |
Summary: The Westfield housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 50%, 3 bedroom homes decreased by 23.5%, 4 bedroom homes decreased by 45%, and 5+ bedroom homes decreased by 24.2%.
Number of Homes Sold
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 26 | 14 | -46.2% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Westfield, you could pay more than the asking price. 57.1% of homes here sold above asking price last month.
Summary: A total of 14 homes were sold or pending in Westfield in December 2024, down by 46.2% month-over-month. Of the 14 sold homes, 43% were sold under asking, 0% were sold at asking, and 57% were sold over asking.
Days on Market for Westfield, NJ
We’re sorry, we don't have information for this market at the moment
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