Is Norfolk, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
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
| # BEDS | Dec 2021 | Dec 2022 | % |
|---|---|---|---|
| 1 Bedroom | $307.4K | - | N/A |
| 2 Bedrooms | $555.7K | $625K | +12.5% |
| 3 Bedrooms | $585K | $610K | +4.3% |
| 4 Bedrooms | $748.5K | $850K | +13.6% |
| 5+ Bedrooms | $1.1M | $968.5K | -14.9% |
How many homes are available in Norfolk, MA?
Number of Homes For Sale
| Nov 2022 | Dec 2022 | % |
|---|---|---|
| 28 | 19 | -32.1% |
Homes For Sale By Bedroom Count
| # BEDS | Nov 2022 | Dec 2022 | % |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 5 | 4 | -20.0% |
| 3 Bedrooms | 8 | 4 | -50.0% |
| 4 Bedrooms | 10 | 8 | -20.0% |
| 5+ Bedrooms | 5 | 3 | -40.0% |
Number of Homes Sold
| Nov 2022 | Dec 2022 | % |
|---|---|---|
| 7 | 4 | -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
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 2021 | Dec 2022 | % |
|---|---|---|
| 19 Days | 84 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
Key Takeaway
Many homes in Norfolk are selling fast, if you're buying plan to act quickly.
