$5,495,000
3,360 SqFt
4 Beds
•4 Full Baths, 1 Partial
Laurence Young, Listing Office: Berkshire Hathaway HomeServices California Properties
Is Westwood, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 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, CA
How much do homes in Westwood, CA cost?
Median Sold Price
$1,235,000
$821/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$15,000(-1.2%)
Key Takeaway
Homes in Westwood have sold for 1.2% less than they did a year ago.
Summary: The median home sold price in Westwood was $1,235,000 in October 2024, down 1.2% from last year, and the median price per square foot was $821.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $660K | $643.5K | -2.5% |
| 2 Bedrooms | $1.0M | $1.0M | +2.7% |
| 3 Bedrooms | $2.1M | $2.2M | +2.8% |
| 4 Bedrooms | $3.0M | $3.5M | +16.4% |
| 5+ Bedrooms | $4.5M | $4.5M | -0.1% |
Summary: Westwood housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2.5%, 2 bedroom homes increased by 2.7%, 3 bedroom homes increased by 2.8%, 4 bedroom homes increased by 16.4%, and 5+ bedroom homes decreased by 0.1%.
Housing Supply in Westwood, CA
How many homes are available in Westwood, CA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 128 | 142 | +10.9% |
Summary: The Westwood real estate market had 142 homes for sale in October 2024, a 10.9% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 19 | 15 | -21.1% |
| 2 Bedrooms | 59 | 63 | +6.8% |
| 3 Bedrooms | 20 | 28 | +40.0% |
| 4 Bedrooms | 15 | 18 | +20.0% |
| 5+ Bedrooms | 15 | 18 | +20.0% |
Summary: The Westwood housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 21.1%, 2 bedroom homes increased by 6.8%, 3 bedroom homes increased by 40%, 4 bedroom homes increased by 20%, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 19 | 26 | +36.8% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Westwood, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 26 homes were sold or pending in Westwood in October 2024, up by 36.8% month-over-month. Of the 26 sold homes, 50% were sold under asking, 8% were sold at asking, and 42% were sold over asking.
Days on Market for Westwood, CA
How long does it take to sell a home in Westwood, CA?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 27 Days | 49 Days | +79.2% |
Summary: Homes in Westwood had an average of 49 days on market in Oct 2024, up by 79.2% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
4 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 October 2024, 26 homes were sold in Westwood; 58% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.