Westfield Area Market Report - March 2019

Real Estate Agent with RE/MAX Select NJ# 9483506

As the weather begins to warm up, we begin to see more buyers venturing into the Westfield real estate market. Spring tends to heat things up. Families want to move while kids are out of school. So, they start their search now. The Westfield Area Market Report for March 2019 seems to show that the luxury market is right on point.

The Westfield Area Market Report for March 2019 showed an increase in activity with buyers as well as more inventory on the market.

Westfield Area Market Report - March 2019

Active Westfield Luxury Homes for Sale - March 2019

Search Westfield luxury homes for saleThe Garden State MLS reported a total of 34 luxury Westfield area homes for sale in March 2019. Of those, 19 were either newly constructed or currently under construction. Ten property came onto the Westfield market within the last 30 days. They include a condo in the always desirable Savannah, a 2015 Gialluisi custom colonial with a view of the 5th hole of the Echo Lake Country Club Golf Course, and a 2018 center hall colonial in the Franklin School District.

Another wonderful Westfield property currently for sale right now is the beautiful Cape Cod located at 200 Wyoming St. Originally built in 1938, it was recently updated this year. Even though it incorporates all the amenities a 21st-century homeowner expects, the owners maintained the rich craftsmanship you can only find in homes built in the early 20th-century. Contact me for a private tour.

Westfield Luxury Homes Under Contract - March 2019

Eleven luxury Westfield homes went under contract on March 2019. Six of them were new construction. Five properties took 30 days or less to find a new owner. They included a 2008 and a 2010 colonial (9 days each), a 2013 Gialliuisi custom colonial (4 days) and a 2018 custom colonial that went into escrow the same day it was listed.

Westfield Luxury Homes Sold - March 2019

Nine luxury Westfield homes were sold in March 2019. Five of these properties were newly constructed homes. Four of them sold after spending 30 days or less on the market. They included an FBE colonial (28 days) and a 2018 colonial in the Franklin School District (27 days). Two luxury Westfield homes sold at or above the list price, include a 2016 custom home that sold for $5,000 over list price in just 38 days.

Statewide, we had the best January in history, and the momentum is good in the wake of eased interest rates. This was true in March of last year too. But, the market experienced a 9-month after that stall due to rising rates, swollen inventory, and sellers’ reluctance to adjust for the first two factors. If you want to put your home on the market right now, talk to your Westfield REALTOR® about current pricing and market trends to keep your property from stalling.

Curious about your home’s value?

Please click below for the market update of interest to you:

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Scott Gleason, CRS at RE/MAX Select, Luxury Homes

Originally posted on my Westfield area luxury real estate blog here: http://www.luxuryhomesnj.com/westfield-nj-market-reports/westfield-area-market-report-march-2019/.


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Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Families on the move will appreciate your local market reports.

Apr 19, 2019 05:03 AM #1
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Scott Gleason

Westfield NJ New Homes Specialist
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