Is Westfield, IN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Westfield is a seller's market

Buyer's
Market

Difference Since October 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, IN

How much do homes in Westfield, IN cost?

Median Sold Price

$446,187

$180/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

-$1,638(-0.4%)

Key Takeaway

The sold price of homes in Westfield has remained the same since last year.

Summary: The median home sold price in Westfield was $446,187 in October 2024, down 0.4% from last year, and the median price per square foot was $180.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 --
N/A
2 $350K$340K
-2.9%
3 $375K$381.6K
+1.8%
4 $480K$490K
+2.1%
5+ $681.3K$586.9K
-13.9%

Summary: Westfield housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 2.9%, 3 bedroom homes increased by 1.8%, 4 bedroom homes increased by 2.1%, and 5+ bedroom homes decreased by 13.9%.

Median Sold Price Compared To Nearby Cities

Union Township
+15.2%
Carmel
+7.5%
Noblesville Township
0.2%
Westfield
-0.4%
Washington Township
-2.0%

Housing Supply in Westfield, IN

How many homes are available in Westfield, IN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
409384-6.1%

Summary: The Westfield real estate market had 384 homes for sale in October 2024, a 6.1% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 4840
-16.7%
3 154156
+1.3%
4 122111
-9.0%
5+ 8577
-9.4%

Summary: The Westfield housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 16.7%, 3 bedroom homes increased by 1.3%, 4 bedroom homes decreased by 9%, and 5+ bedroom homes decreased by 9.4%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
12790-29.1%

Asking Price vs. Sold Price

57 Homes Were Sold
Under Asking

21 Homes Were Sold
At Asking

12 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Westfield, you may be able to get a good deal. 63.3% of homes here sold below asking price last month.

Summary: A total of 90 homes were sold or pending in Westfield in October 2024, down by 29.1% month-over-month. Of the 90 sold homes, 63% were sold under asking, 23% were sold at asking, and 13% were sold over asking.

Days on Market for Westfield, IN

How long does it take to sell a home in Westfield, IN?

Average Sale Time

Oct 2023Oct 2024CHANGE
36 Days32 Days-11.7%

Summary: Homes in Westfield had an average of 32 days on market in Oct 2024, down by 11.7% compared to last year.

Breakdown of Home Sale Times

61 Homes Were Sold
Under 30 Days

20 Homes Were Sold
In 30 - 90 Days

9 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Westfield are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 90 homes were sold in Westfield; 68% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 20 Days Ago

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