Is Westwood, 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, Westwood has remained a Seller's Market.
Key Takeaway
Westwood is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Westwood, MA
How much do homes in Westwood, MA cost?
Median Sold Price
$1,050,000
$485/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Westwood have sold for 12.5% less than they did a year ago.
Summary: The median home sold price in Westwood was $1,050,000 in May 2024, down 12.5% from last year, and the median price per square foot was $485.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $562.5K | $518K | -7.9% |
| 2 Bedrooms | $800K | $741.5K | -7.3% |
| 3 Bedrooms | $860K | $927.5K | +7.8% |
| 4 Bedrooms | $1.3M | $1.2M | -0.8% |
| 5+ Bedrooms | $1.8M | $1.7M | -5.6% |
Summary: Westwood housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 7.9%, 2 bedroom homes decreased by 7.3%, 3 bedroom homes increased by 7.8%, 4 bedroom homes decreased by 0.8%, and 5+ bedroom homes decreased by 5.6%.
Housing Supply in Westwood, MA
How many homes are available in Westwood, MA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 42 | 61 | +45.2% |
Summary: The Westwood real estate market had 61 homes for sale in May 2024, a 45.2% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 7 | 7 | 0.0% |
| 3 Bedrooms | 7 | 13 | +85.7% |
| 4 Bedrooms | 14 | 25 | +78.6% |
| 5+ Bedrooms | 13 | 16 | +23.1% |
Summary: The Westwood housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 85.7%, 4 bedroom homes increased by 78.6%, and 5+ bedroom homes increased by 23.1%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 10 | 11 | +10.0% |
Asking Price vs. Sold Price
3 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 Westwood, you could pay more than the asking price. 72.7% of homes here sold above asking price last month.
Summary: A total of 11 homes were sold or pending in Westwood in May 2024, up by 10.0% month-over-month. Of the 11 sold homes, 27% were sold under asking, 0% were sold at asking, and 73% were sold over asking.
Days on Market for Westwood, MA
How long does it take to sell a home in Westwood, MA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 80 Days | 20 Days | -74.5% |
Summary: Homes in Westwood had an average of 20 days on market in May 2024, down by 74.5% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Westwood are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 11 homes were sold in Westwood; 91% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
