Westwood, MA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Westwood Neighborhoods Since 2000




Westwood, 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

Westwood Housing Market Information

With a population of 16,055, 5,589 total housing units (homes and apartments), and a median house value of $757,199, 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 80.60% of the town's housing units. Other types of housing that are prevalent in Westwood include large apartment complexes or high rise apartments ( 16.20%), duplexes, homes converted to apartments or other small apartment buildings ( 2.16%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Westwood. Owner-occupied housing accounts for 86.00% of Westwood's homes, and 62.10% 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 47.81% of the town's housing hails from this era. Other housing ages represented in Westwood include homes built between 1970-1999 ( 28.96%) and housing constructed before 1939 ( 15.23%). There's also some housing in Westwood built between 2000 and later ( 8.00%).

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 21.30% over the last ten years, which is an average annual home appreciation rate of 1.95%, putting Westwood in the top 20% 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.

NeighborhoodScout's data show that during the latest twelve months, Westwood's appreciation rate, at 5.19%, has been at or slightly above the national average. In the latest quarter, Westwood's appreciation rate has been 1.07%, which annualizes to a rate of 4.36%.

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

Average Home Values

 

Median Home Value:
$757,199

Westwood, MA HOME PRICES

Value Range
> $1,176,000 10.7
$882,001 - $1,176,000 22.1
$588,001 - $882,000 37.5
$470,001 - $588,000 16.3
$353,001 - $470,000 7.0
$235,001 - $353,000 3.5
$118,001 - $235,000 0.7
$59,001 - $118,000 0.6
$0 - $59,000 1.6

Very High for MA
Very High for Nation

Value Relative to Nation Value Relative to State
2.22078987460448 6.41025641025641

Number Of Homes And Apartments:
5,589

Westwood 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
69.97% 3.12% 9 8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,384 / per month

Homeownership Rate

Homeownership
Owners 86.00
Renters 14.00
Vacant 1.79

Housing Market Details

 

Age of Homes

AGE OF Westwood HOMES
2000 or Newer 8.0
1970 - 1999 29.0
1940 - 1969 47.8
1939 or Older 15.2

Types of Homes

TYPE OF Westwood HOMES
Single-Family 80.6
Townhomes 0.7
Small Apt. Buildings 2.2
Apt. Complexes 16.2
Mobile Homes 0.4
Other 0.0

Home Size

SIZE OF Westwood HOMES
No Bedroom 0.00
1 Bedroom 10.16
2 Bedrooms 16.24
3 Bedrooms 29.15
4 Bedrooms 32.95
5 or more bedrooms 11.51

Popular Neighborhoods in Westwood

Zip Codes in Westwood, MA