Westwood, MA Real Estate Market

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 Q2 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Westwood, MA Housing Market Trends

With 16,400 people, 5,532 houses or apartments, and a median cost of homes of $868,674, 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 77.73% of the town's housing units. Other types of housing that are prevalent in Westwood include large apartment complexes or high rise apartments ( 19.47%), duplexes, homes converted to apartments or other small apartment buildings ( 2.24%).

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 84.95% of Westwood's homes, and 58.84% 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 42.41% of the town's housing hails from this era. Other housing ages represented in Westwood include homes built between 1970-1999 ( 31.12%) and housing constructed before 1939 ( 14.64%). There's also some housing in Westwood built between 2000 and later ( 11.83%).

Westwood Home Appreciation Rates

Appreciation rates for homes in Westwood have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 51.70%, which ranks in the top 40% nationwide. This equates to an annual average Westwood house appreciation rate of 4.26%.

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 8.02%, 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 3.03%, which equates to an annual appreciation rate of 12.68%.

Relative to Massachusetts, our data show that Westwood's latest annual appreciation rate is lower than 80% of the other cities and towns in Massachusetts.

Average Home Values

 

Median Home Value:
$868,674

Westwood, MA HOME PRICES

> $1,184,000
15.7%
15.7%
$888,001 - $1,184,000
28.3%
28.3%
$592,001 - $888,000
41.9%
41.9%
$473,001 - $592,000
8.0%
8.0%
$355,001 - $473,000
2.4%
2.4%
$237,001 - $355,000
0.7%
0.7%
$118,001 - $237,000
1.0%
1.0%
$59,001 - $118,000
0.1%
0.1%
$0 - $59,000
1.9%
1.9%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Very High for MA

Value Relative To Nation

Number Of Homes And Apartments:
5,532

Westwood Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MA*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
105.03% 3.40%
8
7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$3,726 / per month

Homeownership Rate

Owners
85.0%
85.0%
Renters
15.0%
15.0%
Vacant
7.4%
7.4%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
11.8%
11.8%
1970 - 1999
31.1%
31.1%
1940 - 1969
42.4%
42.4%
1939 or Older
14.6%
14.6%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
77.7%
77.7%
Townhomes
0.4%
0.4%
Small Apt. Buildings
2.2%
2.2%
Apt. Complexes
19.5%
19.5%
Mobile Homes
0.2%
0.2%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1.1%
1.1%
1 Bedroom
11.1%
11.1%
2 Bedrooms
14.6%
14.6%
3 Bedrooms
26.0%
26.0%
4 Bedrooms
32.8%
32.8%
5 or more bedrooms
14.4%
14.4%
0.0% 100.0%
% OF HOMES

Popular Neighborhoods in Westwood

Zip Codes in Westwood, MA