Is Westfield, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Westfield was a Seller's Market.
Key Takeaway
Westfield is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Westfield, NY
How much do homes in Westfield, NY cost?
Median Sold Price
$150,000
$93/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Westfield have sold for 7% less than they did a year ago.
Summary: The median home sold price in Westfield was $150,000 in May 2024, down 7% from last year, and the median price per square foot was $93.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $71.4K | $130.5K | +82.6% |
| 2 Bedrooms | $168.7K | $145K | -14.1% |
| 3 Bedrooms | $160.5K | $140K | -12.8% |
| 4 Bedrooms | $178.9K | $165K | -7.8% |
| 5+ Bedrooms | $235K | $187.5K | -20.2% |
Summary: Westfield housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 82.6%, 2 bedroom homes decreased by 14.1%, 3 bedroom homes decreased by 12.8%, 4 bedroom homes decreased by 7.8%, and 5+ bedroom homes decreased by 20.2%.
Housing Supply in Westfield, NY
How many homes are available in Westfield, NY?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 12 | 12 | 0.0% |
Summary: The Westfield real estate market had 12 homes for sale in May 2024, the same as April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 5 | 3 | -40.0% |
| 4 Bedrooms | 3 | 4 | +33.3% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Westfield housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 40%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 2 | 2 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Westfield, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Westfield in May 2024, the same as the previous month. Of the 2 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for Westfield, NY
How long does it take to sell a home in Westfield, NY?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 20 Days | 8 Days | -61.4% |
Summary: Homes in Westfield had an average of 8 days on market in May 2024, down by 61.4% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Westfield are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 2 homes were sold in Westfield; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
