Westwood, CA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Westwood Neighborhoods Since 2000




Westwood, CA Real Estate Data


Westwood Housing Market Information

With a population of 1,575, 690 total housing units (homes and apartments), and a median house value of $149,699, Westwood real estate values are some of the lowest in California, although compared to real estate around the nation, Westwood homes are still considered rather expensive.

Single-family detached homes are the single most common housing type in Westwood, accounting for 84.51% of the town's housing units. Other types of housing that are prevalent in Westwood include large apartment complexes or high rise apartments ( 6.08%), duplexes, homes converted to apartments or other small apartment buildings ( 5.23%), and a few mobile homes or trailers ( 3.52%).

People in Westwood primarily live in small (one, two or no bedroom) single-family detached homes. Westwood has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Westwood built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Westwood built before 1939 ( 30.23%). A lesser amount of the housing stock also hails from between 1940-1969 ( 28.61%). There's also some housing in Westwood built between 2000 and later ( 9.03%).

Vacant housing appears to be an issue in Westwood. Fully 34.41% of the housing stock is classified as vacant. Left unchecked, vacant Westwood homes and apartments can be a drag on the real estate market, holding Westwood real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Westwood Home Appreciation Rates

Homes have actually lost value in Westwood over the last then years, as home values have seen a decline of 34.16% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Westwood home appreciation rates at 2.23%, which equates to an annual appreciation rate of 9.22%.

Appreciation rates are so strong in Westwood that despite a nationwide downturn in the housing market, Westwood real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Westwood appreciation rates continue to be some of the highest in America, at 9.14%, which is higher than appreciation rates in 95.97% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Westwood. Westwood appreciation rates in the latest quarter were at 2.23%, which equates to an annual appreciation rate of 9.22%.

Relative to California, our data show that Westwood's latest annual appreciation rate is higher than 90% of the other cities and towns in California.

Average Home Values

 

Median Home Value:
$149,699

Westwood, CA HOME PRICES

Value Range
> $1,216,000 1.2
$912,001 - $1,216,000 1.3
$608,001 - $912,000 1.0
$486,001 - $608,000 0.8
$364,001 - $486,000 5.8
$243,001 - $364,000 10.3
$122,001 - $243,000 38.3
$61,001 - $122,000 21.9
$0 - $61,000 19.4

Very Low for CA
Average for Nation

Value Relative to Nation Value Relative to State
50.9222931428237 96.4332892998679

Number Of Homes And Apartments:
690

Rent & Ownership

 

Average Market Rent:
$1,039 / per month

Homeownership Rate

Homeownership
Owners 51.96
Renters 48.04
Vacant 34.41

Housing Market Details

 

Age of Homes

AGE OF Westwood HOMES
2000 or Newer 9.0
1970 - 1999 32.1
1940 - 1969 28.6
1939 or Older 30.2

Types of Homes

TYPE OF Westwood HOMES
Single-Family 84.5
Townhomes 0.7
Small Apt. Buildings 5.2
Apt. Complexes 6.1
Mobile Homes 3.5
Other 0.0

Home Size

SIZE OF Westwood HOMES
No Bedroom 4.09
1 Bedroom 7.98
2 Bedrooms 39.64
3 Bedrooms 37.55
4 Bedrooms 8.75
5 or more bedrooms 2.00

Westwood Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CA*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
41.21% 2.05% 1 5
* 10 is highest

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Zip Codes in Westwood, CA