Is Westfield, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
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, MA
How much do homes in Westfield, MA cost?
Median Sold Price
$345,500
$210/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Westfield have sold for 11.2% more than they did a year ago.
Summary: The median home sold price in Westfield was $345,500 in April 2024, up 11.2% from last year, and the median price per square foot was $210.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $195.3K | $177.5K | -9.1% |
| 2 Bedrooms | $226.5K | $239.5K | +5.7% |
| 3 Bedrooms | $325K | $340K | +4.6% |
| 4 Bedrooms | $345K | $430.7K | +24.9% |
| 5+ Bedrooms | $345K | $447.5K | +29.7% |
Summary: Westfield housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 9.1%, 2 bedroom homes increased by 5.7%, 3 bedroom homes increased by 4.6%, 4 bedroom homes increased by 24.9%, and 5+ bedroom homes increased by 29.7%.
Median Sold Price Compared To Nearby Cities
| Westfield | $310.6K | $345.5K | +11.2% |
| Southwick | $382.5K | $415.9K | +8.7% |
| West Springfield | $300K | $310K | +3.3% |
Housing Supply in Westfield, MA
How many homes are available in Westfield, MA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 72 | 90 | +25.0% |
Summary: The Westfield real estate market had 90 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 | 15 | 15 | 0.0% |
| 3 Bedrooms | 31 | 40 | +29.0% |
| 4 Bedrooms | 20 | 24 | +20.0% |
| 5+ Bedrooms | 6 | 11 | +83.3% |
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 remained the same, 3 bedroom homes increased by 29%, 4 bedroom homes increased by 20%, and 5+ bedroom homes increased by 83.3%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 17 | 23 | +35.3% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
17 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Westfield, you could pay more than the asking price. 73.9% of homes here sold above asking price last month.
Summary: A total of 23 homes were sold or pending in Westfield in April 2024, up by 35.3% month-over-month. Of the 23 sold homes, 22% were sold under asking, 4% were sold at asking, and 74% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 39 Days | 33 Days | -15.2% |
Summary: Homes in Westfield had an average of 33 days on market in Apr 2024, down by 15.2% compared to last year.
Breakdown of Home Sale Times
18 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Westfield are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 23 homes were sold in Westfield; 78% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
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