Westfield New Jersey's Monthly Multifamily Property Market Analysis - March 2007

Westfield has very few multifamily properties, so it stands to reason that there are few available for sale. However, what Westfield lacks in numbers it more than makes up for in character and charm. the multifamily homes afford their owners the same rich architectural detail enjoyed by owners of single family residences.

There were seven properties available for sale in March, with an average list price of $679,114. That's slightly higher than 2006 by about 6.2%. The average days on market were roughly 71, just over half of 2006 for the same period. Interestingly enough, there were 3 new listings with an average sales price of $644,933. No multifamily properties went under contract in March. Neither 2006 or 2007 had closed sales in March.