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Westfield Real Estate Market Report - August, 2013
Westfield, NJ, is located in central Union County and is home to approximately 30,000 people. It was incorporated in 1798, making it one of the oldest towns in New Jersey. Home to approximately 30,000 people, Westfield covers 6.8 square miles in Union County, NJ
 
 
The real estate market in Westfield shows that there are currently 3.7 months of inventory available in Westfield. This number tells you how many months it would take for all the current homes for sale on the market to sell, based upon the rate of sales in the past. A Months of Supply of less than 5 months is what real estate professionals often call a "seller's market." This means that there are more buyers than sellers in the area and homes are selling quicker than they are being put on the market. Typically, this increases prices.
 
 

 
 
Buyers who are considering a home in Westfield need to know the average Days on Market. In Westfield, homes that sold in July sold, on average, after 53 days, which is slightly slower than they were selling earlier this year.
 
 
 
 
In all, there were 168 active listings in Westfield in July and ... more

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