Westfield July 2025 Rental & Sales Market Report
Westfield continues to be one of the most puzzling markets in Central Indiana. July 2025 data shows stubbornly high vacancies despite strong long-term fundamentals, creating both challenges and opportunities for rental property investors. For landlords who adapt quickly to market realities, Westfield remains a market worth holding for future growth.
Rental Market — Westfield (July 2025)
- Active rental homes: up 4% month-over-month (within normal seasonal range)
- Average rent (SFH): $2,650 (–5% MoM, +2% YoY)
- Average days on market: 81 (unusually high and costly for landlords)
- Price per sq. ft. (SFH): $1.13
- Apartments & condos: 21 available; average rent $1,568
- Townhomes: 17 available; average rent $2,400; 40 DOM (reasonable compared to SFHs)
Key concern: At 81 days on market, many Westfield rentals are sitting vacant too long. Landlords holding out for inflated asking rents risk losing $6,000+ in vacancy costs. Price adjustments and responsiveness are critical to avoid extended downtime.
Sales Market — Westfield (July 2025)
- Average sales price: down 6% MoM and 3% YoY
- Average days on market: 37 (+20% MoM, +30% YoY)
- Average price per sq. ft.: $196 (+4% YoY)
- Number of homes sold: 71 (–4% MoM, –20% YoY)
Sales data reflects a market under short-term pressure, but not collapse. While prices softened in July, affordability remains solid compared to nearby suburbs, especially in the $250K–$350K range. This range remains the “meat of the market” for investors seeking long-term rental demand.
Investor Insights
- Vacancy management is everything in Westfield right now. Weekly pricing adjustments and proactive marketing updates are essential.
- Townhomes are leasing faster than single-family homes — consider this property type if targeting Westfield.
- HOA restrictions are tightening in some neighborhoods, especially against short-term rentals. Long-term rentals are often grandfathered in but confirm rules before purchasing.
- Despite the bumpy ride, Westfield’s long-term fundamentals — strong schools, rapid development, and community investment — remain very attractive.
Looking to reduce vacancy and maximize cash flow in Westfield? Partner with Westfield property management experts. Or, explore Indianapolis property management services for insights across the metro area.
Transcript Here
00:07 Westfield Rental Market Update
Westfield, this is uh this is your nightmare. Yes, Westfield. I I just every every month I hope just replay. Let's just cut this out. We'll just replay last month's. Oh god, what's happening? It's just the days on the market. It just will not stop. 81 days on the market is just unbelievable. It is unbelievable.Um, but despite that, I mean, look at that. Look at the the graph. I mean, year-over-year for the most part, it's over uh in terms of average price. I mean, this month we did see a bit of a dip. Um, you can see 2650 is the average rental price, which is down 5% month over month, but it's still up 2% year-over-year. So, like it's just it kind of defies all logic to be honest with you. Um, but we've talked about it before. It's I think uh we've seen it here at Red Door. You you've talked to a lot of investors. It's just I think stubborn landlords, right? Just kind of demanding that they get their uh their number. And so it looks like they get it, but it looks like they they pay the price in terms of vacancy.
Yeah. Which is costly. That is costly. I mean, you take the average rental price 26.50 and times that uh by 80 days. Uh that's uh I mean, that's going to cost you more than six grand, you know. So, be smart about it if you have a a home in Westfield. Um so that you're not that person with a home on the market for 81 days. So uh anyway, active homes on the market. Thankfully, uh this did not follow suit of Fisers and Noblesville. There is a slight month- over-month change, 4% that can easily be accounted for in terms of seasonality. But Fischers and Noblesville, we saw a 30% jump. So thankfully, we're not seeing that here because that would be that would be bad news for Fisers if we saw the same thing here.
So, uh, but going back yet again, 81 days on the market, crazy crazy high. Um, $1.13 as a price per square foot. Uh, just mentioned real quickly, apartments and condos, 21 of those with an average price of 1568. So, $1,000 less, $1,100 less than single family homes. Uh, and then, uh, uh, town homes, there's 17 town homes uh, with just a little bit less. It's $2,400 a month uh in terms of average rental price and the days on the market a lot more reasonable 40. That that's really kind of where it should be in that 30 30 to 40 range. Uh so that's more reasonable.
Um and then jumping down the the three graphs there on the bottom can always focus kind of more on the single family homes because that's mostly what we deal with. Uh started off slow this year but uh for the most part it is maintaining a positive trend and a positive trend year-over-year. So that is that is the good news despite the days on the market somehow uh average rents are still up year-over-year. So that's great news for Fisers.
02:58 Westfield Rental Pricing Reality Check
Yeah. Um that is that is so here in Westfield uh I met with an owner not that long ago and I had to break the news to him. I don't know, I may have shared this on last month's podcast as well, but um I met with him in person and he was hoping he was going to achieve it was just a town home. Um just a standard town home. Nothing flashy about it. And and it's it's I I will never be the person that will lie or skew information in order to sign you as a client. And there's a couple reasons. not only integrity, uh patting myself on the back again there, but uh but also because it sets us both up for failure.Um because I'm gonna I'm gonna have you as a client. Yes. Uh but you're going to have a long vacancy and I'm going to have to explain that vacancy to you. So that's that's even more so the reason. But he was hoping to achieve like 3,200 a month in rent. And I had I had the professional duty to tell him like, unfortunately, we've got condos right down the street. I just went through this uh owner. That's not going to happen. You're going to be right at uh closer to 25 and Right. That's shocking. Yeah, I know. I know. Shocking for him to digest.
Um and of course he didn't sign on as a client. I would he probably went one with one of our competitors that told him, assured him he could get 3,200 and it's still on the market to this day. But yeah, um yeah. So anyway, so you got to know what's going on. to Mike's earlier point, that's the reason for that story is that you need to be working with somebody who's going to give you the information that you need on the front end to make a more educated decision. But when you're already under contract and you are dedicated to putting this property as a rental property is making those price adjustments early on, don't cost yourself six grand because you're you're stubborn to get 25 $2,600 a month when the market's only calling for 23 or 22.
So make the adjustment. uh stop the bleeding and then write and then ride out Westfield because if you're in that market, this may look like something that you need to panic on, but you do not. There is so much going on in Westfield. Uh I know Mike, I know you read these numbers, but I know deep down you still love Westfield. I know that you do. I mean, Westfield I have five houses in Westfield. I love Westfield. I love it. I mean, exactly. Westfield, the the the long-term uh outlook for Westfield is so good. I mean, yes, right now 81 days on the market is terrible. Nobody wants 81 days on the market. That's awful. But to your point, uh, pay attention, listen to your property manager, watch this podcast so you can be aware.
You know, if you're if you have a house with us, we're going to give you weekly updates, real time updates of how many showings we're getting, how many clicks are we getting, so you can make these adjustments very, very quickly. Uh, we don't want to wait two, three weeks to make an adjustment. We like on it now. like be pay attention and make price reductions if you need to make price reductions. We're going to give you constant and almost immediate feedback as far as what we're experiencing. So pay attention, be reactive, and don't just, you know, sit on your hands and, you know, hopefully you're going to get that 3,200 bucks or whatever it is.
Yeah. Yeah. And rest easy. Uh you're going to see a lot more return and more than just monthly cash flow in the in the Westfield area over the the macro idea of uh of what's going on there. So just bear that in mind.
06:14 Westfield Sales Market Update
Sales data. sales data. Okay. Uh boy, that was a big drop off there. My my eyes just went directly to the bottom left there. Average sales price over time. It looks like uh July uh things just fell off. That is not great news. I got to be honest, personally, I I have to sell a house. We had a Airbnb and uh one of the HOA they changed the covenants and restrictions and so I'm going to have to put a house on the market in Westfield here over the next actually this coming week on on Thursday is when we're going to do it. So, fascinating. Interesting. I love these insights and so do our viewers. I know that they do. So So I I'll share I'll share my experience with you, but I honestly I'm not looking forward to it. Uh kind of kind of uh uh like bracing for impact kind of a a thing. So I'll let you know how it goes. And the timing just the timing is not ideal. I mean I should have listed it two months ago. So schools started and you know we're seeing a little bit of a price decrease here. So anyway,07:06 HOA Covenant Changes & Investor Lessons
So sorry before you jump on because HOA covenants are such a big discussion point that I have all the time. So, just give me without spending a bunch of time on this. I know that this there's value here. Um, so the HOA changed the covenants and uh did you did you try to fight back at all and just the fight was just going to be unsuccessful at some point?Yeah, you know, we definitely thought about it. Um, so we contacted our attorney and uh I mean there's enough financial gain there to make it worth a bit of a fight. Um, but from the advice of our attorney and several other people that we talked to, it was like basically you're going to just spend so much money on attorney's fees and nobody could cite anything where there was a successful case of this. Um, so it honestly just ended up probably not being worth the fight.
Um, so we said, "Hey, you know what? We'll cash our chips in and and move somewhere else." So, uh, we definitely thought about it. We definitely thought thought about fighting it, but ultimately we just said it's not worth it.
So there you go. That's a perfect answer to a question I get all of the time. So if if uh your HOA is deciding to change the covenants, that does not always mean that you're going to be grandfathered in. So uh prepare both sides whether whether it's worth standing up and fighting the battle or whether you need to make other adjustments. Like Mike said, I love the analogy there. Cash your chips in and uh and put them elsewhere. Nice.
Okay. I will say uh you know this one's a little bit different in the sense that we we were running a short-term rental there and from what I have seen and in this in this case as well um most of the time they will grandfather you in if you're a long-term rental. So you got to like you know register with them and all that kind of stuff. Uh, but the short-term rentals, they gave us like I don't know what how many days it was or they had we they would honor all of our existing reservations and then after that uh it was it was a no-go. But I think uh most of the case if you have a rental most of the time what I've seen is if they change the the the bylaws you will be grandfathered and it's not guaranteed don't get me wrong but for most part what I've seen is that's kind of the common practice is that if you have kind of like they're doing in fisers basically exactly like that like if you have something that's existing okay until you sell it it can be a rental uh but nothing new and then whatever cap they have on it.
But uh anyway that's what that's just wanted to mention that we weren't grandfathered in because we were a short-term rental. So they they divided them up in terms of like categories. Uh but the long-term ones were and that's what I've seen as kind of the common practice.
Yeah. No, that's that's a very important uh distinction there. Yep.
09:45 Westfield Affordability & Investor Opportunities
So all right, let's jump back into these numbers here. Uh days on the market, not too bad. 37 days on the market, although that is up what 20% month overmonth and 30% year-over-year. Uh but still not bad at 37. Price per square foot 196, which is up ever so slightly month over month and up 4% year-over-year.Uh but then look at this uh sales price down 6% month overmonth and then 3% year-over-year and gosh the prices were just continuing to tick up and then July just I don't want to say fell off a cliff but yeah uh kind of it did so we'll see what happens um in August but that's definitely a concern to see you know the sales price jump down like that um and then number of homes sold 71 that's down 4% month over month and then 20% year-over-year.
So, curious to see what happens here and I can be a firsthand uh participant and explain uh my journey. We'll we'll pick this up next month. We'll see if see if we have a house under contract uh next month when we do this podcast or not. I'll let you know. I'll tell you how many how many showings we have and all that good stuff.
Yeah, that'll be awesome. That'll be really cool.
Um okay, so we kind of talked about the sales price over time and then just bottom right number of homes sold. Like where is Westfield in terms of affordability? you know, you're definitely in that like 250 to 350 is kind of the the peak of the market, uh, the meat of the market. Um, so still relatively affordable, just a little bit more than Indianapolis and that kind of stuff. But, you know, that 250 to 300, that's where I would be aiming if I was looking in Westfield.
Uh, I follow this market. So, I know that there's really some good homes uh, coming on the market. Uh, if you are interested in Westfield uh, in that 250 to 300, I mean, there's some really good homes. uh in that like like 285 to 315. There's there's definitely some homes in that in that price point. So, still still a great market. Again, long-term play uh but still a wonderful market.
