Westfield, NJ Real Estate Update: What’s Happening with Prices in 2026?

Let me be straight with you: if you’ve been waiting for Westfield to “cool off,” that moment has not arrived. And based on what the data is telling us right now, it’s not coming anytime soon.

As we move through early 2026, Westfield continues to behave like the stubborn overachiever it’s always been — holding value, attracting buyers, and rewarding owners who had the patience to plant roots here.

Here’s what I’m seeing, and what it means for you.

The Numbers Worth Knowing

Median home values in Westfield are currently sitting somewhere between $1.25 million and $1.5 million depending on property type and neighborhood. Year-over-year appreciation is running around 6.7%, which quietly outpaces most of the country. But the number that really tells the story? Homes are closing at 106–107% of asking price. Bidding wars aren’t nostalgia from 2022 — they’re Tuesday.

Why Is This Still Happening?

A lot of buyers and owners ask me this, especially with mortgage rates still hovering in the 6–7% range. The honest answer is that Westfield has a supply problem that no interest rate can fix.

There are roughly 34 active listings in the entire town right now. Thirty-four. In a community this desirable, that number essentially means every new listing is an event. Buyers who’ve been waiting on the sidelines — many of them relocating from Manhattan, Hoboken, and Jersey City — descend quickly. They know what they want: top-ranked schools, a walkable downtown with actual restaurants and shops, and a direct train to Penn Station. Westfield delivers all three without the $3 million price tag that Short Hills or Millburn carries.

That’s the position Westfield occupies in the market right now: the “smart money” alternative for high-income professionals who want the lifestyle without paying the absolute ceiling. When Summit is running around $1.87 million and Millburn is approaching $3 million, Westfield at $1.3–$1.5 million starts to look like relative value. And relative value attracts buyers, which keeps prices firm.

If You’re Thinking About Selling

This is about as favorable a seller’s environment as you’re going to find. Inventory is thin — we’re well under three months of supply — so you’re not fighting for attention. Homes are moving in roughly 16 to 20 days, which means you should expect a compressed timeline from listing to contract.

One thing I’d caution sellers on: buyers paying 106% of asking price are also expecting a lot. “Move-in ready” isn’t just a marketing phrase right now — it’s the price of admission for the highest bids. If your home needs work, price it accordingly rather than hoping a bidding war will paper over deferred maintenance.

If You’re Trying to Buy

I won’t sugarcoat it — this is a difficult market to buy in. The math matters: if you’re looking at a home listed at $1.2 million, you need to be mentally and financially prepared for it to close at $1.28 to $1.3 million. That gap has to fit within your budget before you even walk through the door.

Speed is equally important. The days of taking a long weekend to think it over are largely gone in Westfield. If something checks your boxes, you need a plan — not a maybe.

Make sure your pre-approval is clean and current. In a competitive multiple-offer situation, sellers and their agents pay close attention to the strength of your financing. If you can waive the mortgage contingency with confidence, it matters. If you can’t, make sure everything else about your offer is as tight as possible.

The Bigger Picture

Westfield doesn’t appear to be building a bubble. What it has is a genuine, structural mismatch between the number of people who want to live here and the number of homes available — and that imbalance isn’t going to resolve itself quickly. For homeowners, that’s continued equity growth and a strong position if you ever decide to sell. For buyers, it’s a market that rewards preparation and penalizes hesitation.

If you have questions about how these trends apply to your specific situation — whether you’re thinking about listing, buying, or just trying to understand what your home is worth today — reach out. This kind of market deserves a personalized conversation, not just a number off the internet.

Market data reflects conditions as of early 2026 and varies by neighborhood and property type. Always work with me a, local real estate professional for guidance specific to your situation.