Westfield Real Estate Report

In what may be the real estate equivalent of a holiday hang-over the total number of homes sold in the Westfield real estate market dropped approximately 45-pecent, going from 29 in December to just 16 in January, 2010. But there was some good news for home buyers because the total number of Westfield homes for sale finally ended its 4-month slide, rising from 244 last month to 247 in January, 2010.

The average days on market was just a little over 3 months, down from a 6-month high of 104 days in December of 2009.  The average Westfield home went for around $222,000 while the median sold price was approximately $177,000. Buyers paid an average cost of $79 per-square-foot. The absorption rate based on closed sales was approximately 6.9 percent.   The months of inventory based on closed sales was right around 9.1 percent.

The town of Westfield, Indiana has come a long way since its founding in 1834 by Quakers.  Not a big city by modern standards, Westfield is still big enough to offer a diverse real estate market with everything from small, cape cod style cottages to larger, neocolonial homes –all without the big-city headaches.