Is Westfield, NJ 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, NJ
How much do homes in Westfield, NJ cost?
Median Sold Price
$1,150,000
$442/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Westfield have sold for 19.3% more than they did a year ago.
Summary: The median home sold price in Westfield was $1,150,000 in April 2024, up 19.3% from last year, and the median price per square foot was $442.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $200K | $335K | +67.5% |
| 2 Bedrooms | $537K | $500K | -6.9% |
| 3 Bedrooms | $730K | $770K | +5.5% |
| 4 Bedrooms | $975K | $1.1M | +22.2% |
| 5+ Bedrooms | $1.5M | $1.6M | +8.1% |
Summary: Westfield housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 67.5%, 2 bedroom homes decreased by 6.9%, 3 bedroom homes increased by 5.5%, 4 bedroom homes increased by 22.2%, and 5+ bedroom homes increased by 8.1%.
Median Sold Price Compared To Nearby Cities
| Westfield | $964K | $1.1M | +19.3% |
| Scotch Plains Township | $658.3K | $763.5K | +16.0% |
| Scotch Plains | $658.3K | $750K | +13.9% |
| Mountainside | $790K | $865K | +9.5% |
| Garwood | $525K | $561K | +6.9% |
Housing Supply in Westfield, NJ
How many homes are available in Westfield, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 86 | 112 | +30.2% |
Summary: The Westfield real estate market had 112 homes for sale in April 2024, a 30.2% 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 | 7 | 6 | -14.3% |
| 3 Bedrooms | 18 | 24 | +33.3% |
| 4 Bedrooms | 27 | 34 | +25.9% |
| 5+ Bedrooms | 34 | 48 | +41.2% |
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 33.3%, 4 bedroom homes increased by 25.9%, and 5+ bedroom homes increased by 41.2%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 23 | 19 | -17.4% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
15 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Westfield, you could pay more than the asking price. 78.9% of homes here sold above asking price last month.
Summary: A total of 19 homes were sold or pending in Westfield in April 2024, down by 17.4% month-over-month. Of the 19 sold homes, 16% were sold under asking, 5% were sold at asking, and 79% 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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The data relating to real estate for sale on this web-site comes in part from the Internet Listing Display database of the CENTRAL JERSEY MULTIPLE LISTING SYSTEM. Real estate listings held by brokerage firms other than this site-owner are marked with the ILD logo. The CENTRAL JERSEY MULTIPLE LISTING SYSTEM does not warrant the accuracy, quality, reliability, suitability, completeness, usefulness or effectiveness of any information provided. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify properties the consumer may be interested in purchasing or renting. Copyright 2024, CENTRAL JERSEY MULTIPLE LISTING SYSTEM. All Rights Reserved. The CENTRAL JERSEY MULTIPLE LISTING SYSTEM retains all rights, title and interest in and to its trademarks, service marks and copyrighted material.
Information Deemed Reliable But Not Guaranteed. The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which participates, and is provided by BRIGHT through a licensing agreement.