Is Westfield, IN 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 April 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, IN

How much do homes in Westfield, IN cost?

Median Sold Price

$445,338

$178/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$12,760(+2.9%)

Key Takeaway

Homes in Westfield have sold for 2.9% more than they did a year ago.

Summary: The median home sold price in Westfield was $445,338 in April 2024, up 2.9% from last year, and the median price per square foot was $178.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 --
N/A
2 $320K$340K
+6.3%
3 $359.9K$384.9K
+7.0%
4 $469.6K$481.8K
+2.6%
5+ $650.3K$684.9K
+5.3%

Summary: Westfield 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 6.3%, 3 bedroom homes increased by 7%, 4 bedroom homes increased by 2.6%, and 5+ bedroom homes increased by 5.3%.

Median Sold Price Compared To Nearby Cities

Union Township
+13.6%
Carmel
+6.5%
Westfield
+2.9%
Noblesville Township
0.3%
Washington Township
-0.6%

Housing Supply in Westfield, IN

How many homes are available in Westfield, IN?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
359369+2.8%

Summary: The Westfield real estate market had 369 homes for sale in April 2024, a 2.8% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 00
0.0%
2 5648
-14.3%
3 141145
+2.8%
4 99104
+5.1%
5+ 6372
+14.3%

Summary: The Westfield 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 decreased by 14.3%, 3 bedroom homes increased by 2.8%, 4 bedroom homes increased by 5.1%, and 5+ bedroom homes increased by 14.3%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
9588-7.4%

Asking Price vs. Sold Price

40 Homes Were Sold
Under Asking

30 Homes Were Sold
At Asking

18 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Westfield, you may be able to get a good deal. 45.5% of homes here sold below asking price last month.

Summary: A total of 88 homes were sold or pending in Westfield in April 2024, down by 7.4% month-over-month. Of the 88 sold homes, 45% were sold under asking, 34% were sold at asking, and 20% were sold over asking.

Days on Market for Westfield, IN

How long does it take to sell a home in Westfield, IN?

Average Sale Time

Apr 2023Apr 2024CHANGE
56 Days57 Days+2.3%

Summary: Homes in Westfield had an average of 57 days on market in Apr 2024, up by 2.3% compared to last year.

Breakdown of Home Sale Times

55 Homes Were Sold
Under 30 Days

14 Homes Were Sold
In 30 - 90 Days

19 Homes Were 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 April 2024, 88 homes were sold in Westfield; 63% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 22% 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 5 Days Ago

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