Westfield, NJ 07090 Real Estate Market Report

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

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

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

Key Findings

1. The primary market indicator, the median sold price of 942,000, points to the neighborhood’s transaction-level value and should be used as the baseline for pricing strategy when listing or underwriting offers; with the market labeled as hot, sellers can still expect upward pressure on accepted sale prices.
2. There is a marked gap between the median listing price of 1,110,000 and the median sold price of 942,000, which suggests pricing friction and elevated seller expectations; price guidance should prioritize comparables anchored to the median sold price to avoid prolonged exposure.
3. Slower apparent sales velocity is indicated by the median days on market of 255, which may reflect longer negotiation timelines or seasonality rather than weak demand; agents and investors should plan for extended holding periods and stage concessions or financing flexibility accordingly.
4. Rents are trending up and the median market rent of 3,200 supports interest from buy-to-rent buyers, but ongoing moderate interest rate pressure (current average 30-year fixed rate ~6.53% vs a 2026 YTD low of 5.98%) suggests financing sensitivity—structure offers and leverage assumptions conservatively.

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.