Westfield, NJ 07090 Real Estate Market Report
ZIP Code: 07090
Report Date: May 2026
Market Temperature: HOT
Scope: This ZIP code analysis focuses on single-family residential (SFR) properties. Metrics are calculated from recent sales and active listings within the past 90 days.
Market Overview
This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.
Market Metrics
Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.
Rental Market
Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.
Property Taxes
Liquidity & Velocity
Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.
Market Trends & Context
Understanding Market Temperature
A Hot market indicates strong buyer demand with limited inventory, typically characterized by rising prices, quick sales (low days on market), and inventory levels below historical averages.
Current Mortgage Rate Context
Market-level mortgage rate comparison for this area:
Current 30-year fixed mortgage rates in Westfield, NJ, are approximately 6.3%, which is higher than the sub-6% rates available to many borrowers in early 2026.
Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.
Key Findings
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The primary market-value indicator is the median sold price: $1,099,500 — this representative recent sale level suggests strong valuation for SFR and condominium properties in Westfield and should be used as the anchor for pricing decisions. up
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There is a meaningful gap between the median listing price and the median sold price — $1,295,000 (median listing price) vs. $1,099,500 (median sold price) — which may indicate seller expectations exceed realized transaction values and could create pricing friction if sellers do not adjust. moderate
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Market velocity appears slow relative to typical hot markets: 245 median days on market signals extended time-to-contract and suggests slower sales velocity despite the broader market temperature being described as hot; this may reflect a mismatch between asking prices and what buyers are willing to pay. flat
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Macro and demand-side context supports caution: the market is labeled hot and price movement is up, yet interest rate pressure is elevated with 30-year fixed mortgage rates around 6.3%, and rent trends are flat—together these factors suggest continued price strength but with financing headwinds that may limit buyer pool growth and prolong negotiations. elevated
Notable Properties
The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.
Recent Transactions
Highest sale in the past 90 days. Fully renovated with modern finishes and premium lot positioning.
Sold above market average
Sold above market average
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Sold below market average
Sold at market average
Westfield, NJ 07090 Real Estate Market Report
ZIP Code: 07090
Report Date: May 2026
Market Temperature: HOT
Scope: This ZIP code analysis focuses on condominium properties. Metrics are calculated from recent condo sales and active listings within the past 90 days.
Market Overview
This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.
Market Metrics
Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.
Rental Market
Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.
Property Taxes
Liquidity & Velocity
Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.
Market Trends & Context
Understanding Market Temperature
A Hot market indicates strong buyer demand with limited inventory, typically characterized by rising prices, quick sales (low days on market), and inventory levels below historical averages.
Current Mortgage Rate Context
Market-level mortgage rate comparison for this area:
Current 30-year fixed mortgage rates in Westfield, NJ, are approximately 6.3%, which is higher than the sub-6% rates available to many borrowers in early 2026.
Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.
Key Findings
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The neighborhood's primary valuation indicator, median sold price, is 696,000, which confirms sustained transaction-level strength in recent sales and supports a hot pricing environment.
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Despite the strong median sold price, liquidity appears mixed: the median days on market is 250, suggesting slower sales velocity and potential pricing friction between seller expectations and buyer pace.
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Pricing intensity remains high on a per-area basis with a median price per square foot of 504, reinforcing that recent closed transactions are occurring at elevated unit values even as rent growth is flat (median market rent 3,200).
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Macro factors add caution: market temperature is designated hot while interest rate pressure is elevated; notably, current 30-year fixed mortgage rates are reported at 6.3%, which may constrain some buyer affordability despite a generally up price trend.
Notable Properties
The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.
Recent Transactions
Highest sale in the past 90 days. Fully renovated with modern finishes and premium lot positioning.
Sold above market average
Sold above market average
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Sold at market average
Sold at market average
Investment Analysis
Compare rental income potential against ownership costs and benchmark against market averages.
Monthly rental income vs estimated ownership cost
20% down, 6.3% rate, 1.3% tax
Avg nightly rate and occupancy for this ZIP
Data Sources
Real estate market data & public records, and GemHaus® proprietary models.
Report generated: 5/1/2026
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