I hope your October is going well and you are enjoying the beautiful foliage. I wanted to reach out with a few updates about our local real estate market.
You may have heard that rates have dropped. They are hovering around 6% (depending on credit scores). That change is bringing in new buyers as well as encouraging buyers that got frustrated or priced out to come back to their house hunt.
Additionally, we are noticing a change in listing prices and activity. It is more crucial that you get the pricing in what is now the fair market value range. The days of pricing high and getting multiple offers is gone. We are still seeing fast sales and multiple offers on attractive and well priced properties, but the number of offers is down to two or three, usually.
Regarding listings again, we are seeing price reductions happen again, which hadn’t happened in a few years for the most part. This is another indicator that the crazy seller’s market has slowed down, but the majority of these price reductions are for homes that over priced in the first place.
For homes on the market, expect the days on the market to go up a bit, as well. For awhile if a house didn’t sell in the first week, it was strange. We are moving back to the time on market being a bit longer, but still lower than what it was pre-sales boom of 120 days or more.
The take away here, in my opinion, is that it is still a great time to make a move, you just need to have your expectations based in today’s reality.
As always, if you (or anyone you know) has a real estate question, I am always here to be your trusted resource. If you would like an updated valuation on your home, please don’t hesitate to ask. I am happy to do that for you, regardless of whether you are looking to sell right now or not.
Lesley Lambert, Western MA REALTOR with Park Square Realty 413-575-3611 or realestate.lesleylambert@gmail.com
As a seller, it is important to understand the correlation between key real estate metrics to make informed decisions when listing your property in Westfield, MA.
The Months Supply of Inventory is a metric that indicates the balance between supply and demand in the housing market. A lower supply of inventory, such as the current 1.29 months, typically indicates a seller’s market with high demand and limited supply. This can lead to quicker sales and potentially higher selling prices.
The 12-Month Change in Months of Inventory of -11.03% further supports the notion of a seller’s market, as there has been a significant decrease in the amount of available inventory over the past year. This trend suggests that homes are selling faster in Westfield, MA and competition among buyers is strong.
The Median Days Homes are On the Market at 22 days indicates that properties are selling relatively quickly in the current market conditions. This is good news for sellers looking to move their property efficiently and not have it linger on the market for an extended period.
The List to Sold Price Percentage of 104% shows that, on average, homes are selling for slightly above their list price. This suggests that sellers in Westfield, MA may have some negotiating power and could potentially receive offers above their asking price.
Finally, the Median Sold Price of $360,000 gives sellers an idea of the average selling price in the current market. This can help set realistic expectations for pricing their property and understanding the potential value they could receive.
Overall, these metrics paint a picture of a strong seller’s market with high demand, low inventory, quick sales, and potential for selling prices above list price. Sellers may find themselves in a favorable position to list their Westfield, MA property and achieve a successful sale.
For this, or any other real estate questions please reach out to me:
Lesley Lambert, Westfield REALTOR with Park Square Realty 413-575-3611
Hey Westfield, I’m thrilled to share a video that takes you on a journey into the enchanting world of our beloved black squirrels, the true darlings of our city!
In this very short video, I will share a quick history of how these unique creatures came to Westfield, MA.
But hold on, there’s more to the story – I’m not just your local realtor; I’m a Westfield enthusiast who has lived here since 1988! 🏡💚 Join me in unraveling the charm of our hometown, one squirrel at a time.
Whether you’re contemplating a move or simply curious about real estate in Westfield, I’ve got your back! 🏠 Feel free to reach out anytime via email at:
If you know me, then you know I love my community. I have lived in or near Westfield, MA my entire life and I am proud to call it my home.
I was raised with the understanding that if you love something, it is your job and responsibility to care for and nurture that thing. My mother instilled this in me and I carry it in my heart daily. Sometimes they are people, sometimes they are pets, and sometimes they are cherished heirlooms, but in this case, they are the community. Bear with me for a moment while I share some of what I have done, but stay with me for the opportunity that makes my heart sing.
Quick boring history
Briefly, I do a lot of volunteer work in my community. I was on the board of directors for the Friends of Grandmother’s Garden in the 90s and early 2000s when we went on a major fundraising project and tore apart and rebuilt this sanctuary in the heart of the city. I have run a project called “Blessing Bags for the Homeless” for years in Westfield. I have been on the board of directors for the Friends of the Westfield Senior Center for over eight years and I am the immediate past president of the Kiwanis Club of Westfield, I am a member of the Elks and I have recently been appointed to the Alumni committee at Westfield State University. All of these organizations and projects hold a special place in my heart, but the one that means the most to me began about three years ago.
This is the good part
Three years ago I discovered that the Westfield Public Schools were looking for mentors for their students. The children that are in the program come from any number of backgrounds, but their teachers and administration have noticed that they would benefit from a relationship with an adult who can be a part of their lives in a regular capacity. As soon as I saw this, I knew I wanted to become involved. I spent my entire life at a dance studio, many of those years as an instructor and I love children. My own children were mostly grown and I missed having younger children in my life.
Flashback to three years ago when I got my first assignment. I will call her Callie for the purposes of this story. Callie was a second-grade student who needed some help with focusing. She was assigned to me because she loved to dance. We bonded over my large collection of children’s dance stories and I taught her some of the moves. Callie flourished under a watchful eye and took to me right off the bat. Her energy was infectious and she was quick for a hug. As it turned out, Callie’s mom couldn’t afford to send her to dance class, so Callie was just doing her own thing. I was able to facilitate a scholarship and secure donations of dance apparel to give to Callie’s mom who then gave it to Callie for Christmas. Hearing her tales of dance class each week became a favorite moment of mine.
Callie is now a fourth-grade student at a new school and I have been able to follow her there and continue to see her weekly. She loves to sing and dance for me and we spend our time otherwise doing art, games, and chatting. She never fails to greet me with a hug and I never leave in a bad mood.
The elementary school that Callie was originally at contacted me a year after I started and shared that they had another high-energy student that they would like to pair with me. How could I say no? Enter my sparkle girl, Ky (also not her real name). Ky was a second-grade student who moved like she was built of bubbles. She is sunshine and rainbows personified and she grabs your interest from the start. I quickly learned that Ky was wise beyond her years. She came from a large family who fell on hard times, but you would never know it to look at her. I only knew from what she was willing to share with me.
Ky loves coloring, games, and crafts and throughout whatever we do she is singing. During our first year together, I had to miss some of our appointments because my mother was in and out of the hospital and eventually passed. Ky wrote me a homemade sympathy card that shared sentiments that were wise beyond her years. That note along with another (I will share in a moment) lives on my refrigerator. I am now in my second year with Ky, a big girl third-grade student now, and our bond continues to grow.
Each week when I arrive at these girl’s respective schools the administration shares with me that my student has been asking after me and checking in to see when they will see me. Each week when I arrive I am met with a beautiful young person running up to me with a full-on blast hug and a cry, “Miss Lesley! I missed you!”. We spend our time doing things that don’t seem important, but while we are doing them I am asking questions and giving support, I am teaching manners and patience, I am checking in on their classroom behavior and encouraging them to do their best, I am teaching them that it doesn’t matter who wins the game as long as you are playing it with someone you love and having fun and most of all, I hope I am teaching them that they can count on someone in their lives.
It is no exaggeration when I share that being a mentor has changed my life. I spend one hour a week volunteering my time, but the gift I get back will last me my entire lifetime. These children have made a mark on my heart that cannot be taken away. I hope I get to participate in their lives for a good long while.
Treasured for life
OK, so here is the second note from Ky that I mentioned. It is a thank you note that she asked the front office to send me at the end of last year’s school year:
“Dear Mrs. Lesley, Thank you for being here for me and supporting me.
I am happy that you came into my life. Love, Ky”
If you are inspired to join this lovely mission and live in Westfield, MA please email vips@schoolsofwestfield.org to get started. If you live elsewhere, contact your district office and ask how to get involved, you won’t regret it!
Westfield, MA Real Estate Market Report: First Half of 2023
Welcome to the Westfield, MA Real Estate Market Report for the first half of 2023! We’re here to provide you with an overview of the current market trends and key statistics that will help you navigate the real estate landscape in our vibrant community. Whether you’re a homeowner, a buyer, or an investor, this report will give you valuable insights into the market conditions.
Median Estimated Home Value:
The median estimated home value in Westfield, MA currently stands at $341,000. Over the past month, we’ve seen a positive growth of 0.88% in home values. Looking at the broader picture, the past three months have shown an increase of 1.68%, while the past 12 months have experienced a significant growth of 5.13%. These upward trends indicate a robust real estate market in Westfield, MA.
Median Sales Price:
The median sales price for homes in our area is currently $377,000. In the last month, we’ve witnessed a substantial increase of $27,630 in the sales price, reflecting a positive change of 7.63%. Over the past three months, the sales price has risen by an impressive 33.27%, and over the past 12 months, it has shown a notable growth of 10.74%. These figures demonstrate the strong demand and appreciation in the Westfield, MA housing market.
Seller’s Market with Low Inventory:
The Westfield, MA real estate market remains a seller’s market, characterized by low inventory levels and high buyer demand. Homes that are priced correctly continue to sell quickly and often at the asking price or even above. It’s crucial for sellers to work with an experienced real estate professional who can help them navigate this competitive market and maximize their selling potential.
In such a dynamic and fast-paced market, having accurate information and expert guidance is essential. As a trusted local REALTOR® with in-depth knowledge of the Westfield, MA area, I am here to assist you every step of the way. Whether you’re interested in selling your home or exploring the available buying opportunities, I can provide you with personalized advice and comprehensive market insights.
Don’t miss out on the exciting opportunities in the Westfield, MA real estate market! Reach out to me, Lesley Lambert, your local real estate expert, at 413-575-3611. I am here to answer your questions, provide you with a free home evaluation, and guide you through the process with professionalism and care.
Stay informed and make informed decisions. Let’s work together to achieve your real estate goals in the thriving Westfield, MA market!
LESLEY LAMBERT, WESTFIELD REALTOR WITH PARK SQUARE REALTY, 413-575-3611.
(Note: The statistics mentioned in this report are based on current data and may be subject to change. For the most accurate and up-to-date information, please consult with a qualified real estate professional.)
