The Westfield real estate market is heating up. Seventy nine houses were listed since Jan. 1, 2016, and of those, nearly 30 percent are under contract, in attorney review or have already closed on the sale. This is great news!

In a study recently released by the National Association of REALTORS, titled the “2015 Profile of Home Buyers and Sellers”, it highlighted an emerging trend of more home buyers trading up to larger homes. Over the past two years, home values have increased and people now have more equity when selling their current home to buy a larger one.  Taking advantage of this are Generation X-ers, 35-50 year olds, who need more space as their families have grown.  Millennials, 34 and younger, are right behind them, seizing the opportunity of becoming a first time home buyer.

This trend is happening right here in Westfield. With New York City only about 25 miles away, buyers are drawn to the area because of its proximity to the city, public transportation, easy access to major highways, great schools, wonderful downtown and a strong community spirit. If you are thinking about selling, now is the perfect time to list your home. Inventory levels are low and there are lots of motivated, qualified buyers searching listings every day.

WESTFIELD LISTING INVENTORY

PRICE RANGE  

# OF AVAILABLE PROPERTIES AS OF 2/11/16

# OF HOUSES UNDER CONTRACT AS OF 2/11/16

$249,999-349,999

6

6

$350,000-449,999

2

5

$450,000-549,999

6

1

$550,000-649,999

12

6

$650,000-749,999

10

4

$750,000-849,999

9

5

$850,000-949,999

8

11

$950,000-999,999

7

1

$1,000,000-1,099,999

6

2

$1,100,000-1,199,999

11

6

$1,200,000-1,299,999

12

3

$1,300,000-1,399,999

9

3

$1,400,000-1,499,999

8

0

$1,500,001-1,599,999

3

0

$1,600,000-1,700,000

6

0

$1,700,000-1,799,999

4

1

$1,800,000-1,899,999

2

1

$1,900,000-1,999,999

2

1

$2,000,000-2,499,999

2

0

$2,500,000-2,999,999

1

0

$3,000,000-3,999,999

1

0

$4,000,000-5,000,000

1

0