Is Westminster, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Westminster has remained a Seller's Market.
Key Takeaway
Westminster is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Westminster, MA
How much do homes in Westminster, MA cost?
Median Sold Price
$526,500
$269/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Westminster have sold for 5.3% more than they did a year ago.
Summary: The median home sold price in Westminster was $526,500 in May 2024, up 5.3% from last year, and the median price per square foot was $269.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $300K | $315K | +5.0% |
| 2 Bedrooms | $267.5K | $420.4K | +57.2% |
| 3 Bedrooms | $482K | $543.2K | +12.7% |
| 4 Bedrooms | $667.5K | $595K | -10.9% |
| 5+ Bedrooms | $536K | $510K | -4.9% |
Summary: Westminster housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5%, 2 bedroom homes increased by 57.2%, 3 bedroom homes increased by 12.7%, 4 bedroom homes decreased by 10.9%, and 5+ bedroom homes decreased by 4.9%.
Median Sold Price Compared To Nearby Cities
| Princeton | $500K | $647.4K | +29.5% |
| Gardner | $310K | $364.2K | +17.5% |
| Fitchburg | $351.2K | $390K | +11.0% |
| Leominster | $392.3K | $420K | +7.1% |
| Westminster | $500K | $526.5K | +5.3% |
Housing Supply in Westminster, MA
How many homes are available in Westminster, MA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 28 | 34 | +21.4% |
Summary: The Westminster real estate market had 34 homes for sale in May 2024, a 21.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 6 | 9 | +50.0% |
| 3 Bedrooms | 10 | 13 | +30.0% |
| 4 Bedrooms | 8 | 9 | +12.5% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Westminster housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 50%, 3 bedroom homes increased by 30%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 7 | 8 | +14.3% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Westminster, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 8 homes were sold or pending in Westminster in May 2024, up by 14.3% month-over-month. Of the 8 sold homes, 38% were sold under asking, 13% were sold at asking, and 50% were sold over asking.
Days on Market for Westminster, MA
How long does it take to sell a home in Westminster, MA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 33 Days | 29 Days | -11.4% |
Summary: Homes in Westminster had an average of 29 days on market in May 2024, down by 11.4% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Westminster are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 8 homes were sold in Westminster; 75% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
