The real estate market in Westfield has adjusted in a similar fashion to surrounding towns, with prices easing off historic highs  from one year ago. There are currently 176 single family homes and 3 multi family homes on the market for sale. These numbers have stayed relatively stable over the past few months, with an equal number of sales and new listings. Inventory levels are much higher than before, giving buyers more options when selecting a home. Although prices and demand in general have trended lower, Westfield still remains an appealing option for many buyers, which has enabled homes to sell quickly if they are priced properly. Multiple offers are still a possiblity for competetively priced homes. I expect this slight price softening trend to continue for the next several month... 12/14/2006

No surprise here. Westfield has very few properties that are two to four family. There were none on the market in November. Not only were there no multi-family properties on the market, there were none under contract nor did any close during the month of November. Last year November saw six listings with a median price of $580,000. There were two new listings last year during the month of November with a median price of $569,000. November 2005 closed out with one sale at $735,000. 12/13/2006

November 2006 saw a 23.59% increase in the number of listings over November 2005. Westfield had 241 single family homes listed for November 2006 with a median list price of $779,900, averaging 98 days on the market. Of the 241 listings, 37 were new with a median price of $649,900. During the month there were 22 sales with a median sales price of $635,000.  One could infer significant price reductions were taken, before these sales were consummated. Sales were equivalent in comparison to November 2005. However, the average sales price to list price was a strong 98%.   Visit my website: http://www.jerseylandrealtor.com/ 12/13/2006

The real estate market in Westfield has adjusted in a similar fashion to surrounding towns, with prices easing off historic highs at a rate of about 5%-9% from one year ago. There are currently 197 single family homes and 4 multi family homes on the market for sale. These numbers have stayed relatively stable over the past few months, with an equal number of sales and new listings. Inventory levels are much higher than before, giving buyers more options when selecting a home.As with surrounding towns, homes that are priced properly are still selling quickly, and homes that are priced too high are staying on the market longer as buyers have many choices when selecting a home. The median sales price for the 24 homes sold in Westfield in October, 2006 was approximately $675,000 with the lo... 11/16/2006