Westford, MA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Westford Neighborhoods Since 2000




Westford, MA Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Westford Housing Market Information

With a population of 23,831, 7,878 total housing units (homes and apartments), and a median house value of $575,699, Westford house prices are not only among the most expensive in Massachusetts, Westford 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 Westford, accounting for 85.30% of the town's housing units. Other types of housing that are prevalent in Westford include row houses and other attached homes ( 6.43%), large apartment complexes or high rise apartments ( 4.03%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.31%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Westford. Owner-occupied housing accounts for 90.39% of Westford's homes, and 74.95% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Westford 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 Westford built between 1940-1969 ( 18.96%). A lesser amount of the housing stock also hails from between 2000 and later ( 12.95%). There's also some housing in Westford built before 1939 ( 12.26%).

Westford Home Appreciation Rates

Appreciation rates for homes in Westford have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 8.83%, which ranks in the top 40% nationwide. This equates to an annual average Westford house appreciation rate of 0.85%.

NeighborhoodScout's data show that during the latest twelve months, Westford's appreciation rate, at 3.69%, has been at or slightly above the national average. In the latest quarter, Westford's appreciation rate has been 1.07%, which annualizes to a rate of 4.36%.

Relative to Massachusetts, our data show that Westford's latest annual appreciation rate is lower than 60% of the other cities and towns in Massachusetts.

Average Home Values

 

Median Home Value:
$575,699

Westford, MA HOME PRICES

Value Range
> $1,146,000 1.4
$860,001 - $1,146,000 3.5
$573,001 - $860,000 37.9
$458,001 - $573,000 19.6
$344,001 - $458,000 20.7
$229,001 - $344,000 12.0
$115,001 - $229,000 2.2
$57,001 - $115,000 0.1
$0 - $57,000 2.7

Very High for MA
Very High for Nation

Value Relative to Nation Value Relative to State
4.26579163248564 16.6666666666667

Number Of Homes And Apartments:
7,878

Westford Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MA*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
51.17% 2.42% 6 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,333 / per month

Homeownership Rate

Homeownership
Owners 90.39
Renters 9.61
Vacant 5.53

Housing Market Details

 

Age of Homes

AGE OF Westford HOMES
2000 or Newer 13.0
1970 - 1999 55.8
1940 - 1969 19.0
1939 or Older 12.3

Types of Homes

TYPE OF Westford HOMES
Single-Family 85.3
Townhomes 6.4
Small Apt. Buildings 3.3
Apt. Complexes 4.0
Mobile Homes 0.9
Other 0.0

Home Size

SIZE OF Westford HOMES
No Bedroom 0.34
1 Bedroom 4.39
2 Bedrooms 16.86
3 Bedrooms 35.56
4 Bedrooms 39.39
5 or more bedrooms 3.47