Westwood, MA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Westwood, MA Real Estate Data


Westwood Housing Market Information

With a population of 16,055, 5,400 total housing units (homes and apartments), and a median house value of $762,012, 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 83.19% of the town's housing units. Other types of housing that are prevalent in Westwood include large apartment complexes or high rise apartments ( 14.50%), duplexes, homes converted to apartments or other small apartment buildings ( 1.51%).

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 86.57% of Westwood's homes, and 63.57% 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 48.87% of the town's housing hails from this era. Other housing ages represented in Westwood include homes built between 1970-1999 ( 30.66%) and housing constructed before 1939 ( 13.74%). There's also some housing in Westwood built between 2000 and later ( 6.73%).

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 20.18% over the last ten years, which is an average annual home appreciation rate of 1.86%, 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.

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 6.30%, which is higher than appreciation rates in 77.92% 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 1.57%, which equates to an annual appreciation rate of 6.42%.

Relative to Massachusetts, our data show that Westwood's latest annual appreciation rate is higher than 70% of the other cities and towns in Massachusetts.

Average Home Values

 

Median Home Value:
$762,012

Westwood, MA HOME PRICES

Value Range
> $1,221,000 12.1
$916,001 - $1,221,000 19.8
$610,001 - $916,000 36.5
$488,001 - $610,000 17.1
$366,001 - $488,000 8.6
$244,001 - $366,000 3.3
$122,001 - $244,000 0.7
$61,001 - $122,000 0.4
$0 - $61,000 1.6

Very High for MA
Very High for Nation

Value Relative to Nation Value Relative to State
2.28377349651578 6.41025641025641

Number Of Homes And Apartments:
5,400

Rent & Ownership

 

Average Market Rent:
$2,036 / per month

Homeownership Rate

Homeownership
Owners 86.57
Renters 13.43
Vacant 0.39

Housing Market Details

 

Age of Homes

AGE OF Westwood HOMES
2000 or Newer 6.7
1970 - 1999 30.7
1940 - 1969 48.9
1939 or Older 13.7

Types of Homes

TYPE OF Westwood HOMES
Single-Family 83.2
Townhomes 0.5
Small Apt. Buildings 1.5
Apt. Complexes 14.5
Mobile Homes 0.3
Other 0.0

Home Size

SIZE OF Westwood HOMES
No Bedroom 0.00
1 Bedroom 9.08
2 Bedrooms 15.94
3 Bedrooms 29.92
4 Bedrooms 33.65
5 or more bedrooms 11.42

Westwood Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MA*
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
72.25% 3.25% 9 9
* 10 is highest

Popular Neighborhoods in Westwood

Zip Codes in Westwood, MA