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Westfield Real Estate Market Update - June 2018
Let's take a look at how the real estate market in Westfield performed in June of 2019.
Inventory:
In June, 54 single family homes were sold and 289 homes were offered for sale.
To search for homes for sale in Westfield, please click here. Buyers find Westfield attractive, and homeowners benefit in the form of increasing sales prices and decreasing days on market.
Realtors use an analysis called Months of Inventory to evaluate the real estate market. The Months of Inventory is equal to how long it would take to sell the existing inventory if no new houses were put on the market.  When the Months of Inventory is below four months, realtors call it a seller's market because the supply is relatively low so sellers have a stronger position in negotiations between a buyer and a seller. When the Months of Inventory is above seven months, realtors call it a buyer's market because the supply is relatively high and buyers have a stronger position in negotiations. Months of Inventory between four and seven is considered a normal market with a good balance of buyers and sellers.
There are currently 5.35 months of inventory in Westfield. This means that there are enough homes on the ... more

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