Westwood real estate, like any other market has very low inventory. Part of this problem could be that Westwood home sellers are waiting for prices to rise.
So let’s compare the median price of August 2012 home sales over August 2011 homes sales.
Single family homes:August 2011 August 2012 % diff $1,545,000 $1,691,000 9.45
CondosAugust 2011 August 2012 % diff $565,000 $726,000 28.50
Westwood real estate is definitely headed in the right direction. But if sellers wait too long then the buyers who are out there now may not be around. Who knows where interest rates will be. Any rise in those, together with increased prices is going to put home ownership out of the reach of many buyers who are qualified right now.