Westwood appreciation rates and housing market information

Westwood housing market information

With 14,117 people, 5,251 houses or apartments, and a median cost of homes of $720,685, Westwood house prices are not only among the most expensive in Massachusetts, Westwood real estate also is some of the most expensive in all of America.

single-family detached homes are the single most common housing type in Westwood, accounting for 82.92% of the town's housing units. Other types of housing that are prevalent in Westwood include large apartment complexes or high rise apartments (13.64%), duplexes, homes converted to apartments, or other small apartment buildings (2.70%), and a few row houses and other attached homes (0.63%).

Owner-occupied, three and four bedroom single-family detached homes are the most prevalent type of housing you will see in Westwood. Owner-occupied housing accounts for 87.01% of Westwood's homes, and 67.15% have either three or four bedrooms, which is average sized relative to America.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Westwood's housing was primarily built during this period, from the '40s through the '60s. A full 51.80% of the town's housing hails from this era. Other housing ages represented in Westwood include homes built between 1970-1994 (25.35%), and housing constructed from 1939 and earlier (15.63%). There's also some housing in Westwood built between 1995 and later (7.22%).

Westwood home appreciation rates

In the last 10 years, Westwood has experienced some of the highest home appreciation rates of any community in the nation. Westwood real estate appreciated 112.48% over the last ten years, which is an average annual home appreciation rate of 11.24%, putting Westwood in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Westwood definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Over the last year, Westwood appreciation rates have trailed the rest of the nation. In the last twelve months, Westwood's appreciation rate has been -1.94%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Westwood were at 0.11%, which equates to an annual appreciation rate of 0.44%.

Relative to Massachusetts, our data show that Westwood's latest annual appreciation rate is higher than 86% of the other cities and towns in Massachusetts.