Is Norfolk, MA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Norfolk is a seller's market

Buyer's
Market

Difference Since December 2021

Since last year, Norfolk has remained a Seller's Market.

Key Takeaway

Norfolk is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

How much do homes in Norfolk, MA cost?

Median Sold Price

$710,000

$311/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2021

+$32,000(+4.7%)

Key Takeaway

Homes in Norfolk have sold for 4.7% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSDec 2021Dec 2022%
1 $307.4K-
N/A
2 $555.7K$625K
+12.5%
3 $585K$610K
+4.3%
4 $748.5K$850K
+13.6%
5+ $1.1M$968.5K
-14.9%

Median Sold Price Compared To Nearby Cities

Medfield
+12.8%
Medway
+9.8%
Norfolk
+4.7%
Millis
+3.2%

How many homes are available in Norfolk, MA?

Number of Homes For Sale

Nov 2022Dec 2022%
2819-32.1%

Homes For Sale By Bedroom Count

# BEDSNov 2022Dec 2022%
1 00
0.0%
2 54
-20.0%
3 84
-50.0%
4 108
-20.0%
5+ 53
-40.0%

Number of Homes Sold

Nov 2022Dec 2022%
74-42.9%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Norfolk, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Average Sale Time

Dec 2021Dec 2022%
19 Days84 Days+327.8%

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Norfolk are selling fast, if you're buying plan to act quickly.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Norfolk, MA

Homes for sale in Norfolk, MA have reached 19. The inventory of homes for sale in Norfolk, MA between November 2022 and December 2022 decreased by 32.1%. In December 2022 median list price was $710,000 and the average listing age was 84 days. Between November 2022 and December 2022, listing prices of homes in this real estate market have seen the following changes: prices of 1 bedroom properties went up by 0%, 2 bedrooms properties prices increased by 12.5%, 3 bedrooms properties became 4.3% more expensive, the cost of 4 bedrooms properties went up by 13.6%, prices of 5 bedrooms properties decreased by 14.9%. Volume of homes for sale changed: volume of 1 bedroom homes stayed the same, number of 2 bedrooms homes decreased by 20%, 3 bedrooms homes became 50% less available, number of 4 bedrooms homes decreased by 20%, 5 bedrooms homes inventory decreased by 40%. In December 2022 more than 2 listings in Norfolk, MA were sold above the asking price. During the same period more than 0 listings were sold at asking price, while more than 2 were sold below.

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