Westwood Housing Trends: What You Need to Know
Westwood, Massachusetts, is a highly desirable suburb located just 13 miles southwest of Boston. Known for its excellent schools, strong community, and convenient access to major highways, it has become a sought-after location for families and professionals. Let’s explore the latest housing trends in Westwood, so you can understand what to expect if you're planning to buy or sell a home here.
1. Rising Property Values
Westwood’s housing market has seen a steady rise in property values over the past few years. According to recent data, the median home price in Westwood has reached approximately $1.2 million. This increase in home prices can be attributed to the town’s high quality of life, proximity to Boston, and limited inventory of available homes. Buyers are willing to pay a premium for the chance to own property in this desirable community.
2. Low Inventory
Westwood’s housing market is characterized by low inventory. There is a limited number of homes for sale, which has contributed to the rise in property values. As of 2024, housing supply remains tight, which continues to create competition among buyers. Many homes receive multiple offers shortly after being listed, driving up final sale prices.
3. New Construction Developments
While Westwood is primarily known for its established neighborhoods, new construction is becoming more prominent. Developments such as Westwood Station and University Station are attracting homebuyers looking for modern amenities and convenient access to shopping, dining, and public transportation. These mixed-use developments offer townhomes, condos, and apartments, catering to different demographics, including young professionals and retirees.
4. Family-Friendly Appeal
Westwood is consistently ranked among the best towns in Massachusetts for families. It offers top-rated public schools, spacious homes, and plenty of parks and recreational areas. As a result, the town has become a hub for families looking for a safe and quiet environment, with access to all the amenities of nearby Boston.
5. Interest in Green Spaces
Westwood is known for its commitment to preserving green spaces, which has become increasingly attractive to homebuyers. The town features multiple parks, trails, and outdoor recreational areas that appeal to residents who value nature and open spaces. With remote work becoming more common, many buyers are prioritizing homes with easy access to the outdoors.
6. Strong Rental Market
In addition to the strong market for homebuyers, Westwood has a growing rental market. The presence of University Station, which offers luxury apartments and convenient access to Boston via the nearby Amtrak and commuter rail stations, has made Westwood an attractive option for renters. Many professionals and students prefer renting in Westwood due to its convenient location and high-end living options.
The Westwood housing market remains highly competitive, with rising home prices, limited inventory, and increasing interest in new developments. Whether you're a first-time buyer or a seasoned homeowner, understanding these trends can help you make informed decisions. With its blend of small-town charm, modern conveniences, and proximity to Boston, Westwood is poised to remain a top choice for homebuyers in the coming years.