Is Norwell, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Norwell was a Seller's Market.
Key Takeaway
Norwell is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Norwell, MA
How much do homes in Norwell, MA cost?
Median Sold Price
$860,000
$388/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Norwell have sold for 1.1% less than they did a year ago.
Summary: The median home sold price in Norwell was $860,000 in March 2024, down 1.1% from last year, and the median price per square foot was $388.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $645K | $567.5K | -12.0% |
| 3 Bedrooms | $727.5K | $780K | +7.2% |
| 4 Bedrooms | $950K | $1.1M | +21.1% |
| 5+ Bedrooms | $1.5M | $2.0M | +31.2% |
Summary: Norwell housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 12%, 3 bedroom homes increased by 7.2%, 4 bedroom homes increased by 21.1%, and 5+ bedroom homes increased by 31.2%.
Median Sold Price Compared To Nearby Cities
| Marshfield | $648.3K | $732.5K | +13.0% |
| Hanover | $700K | $753K | +7.6% |
| Pembroke | $565K | $575K | +1.8% |
| Scituate | $860K | $851.6K | -1.0% |
| Norwell | $870K | $860K | -1.1% |
Housing Supply in Norwell, MA
How many homes are available in Norwell, MA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 22 | 22 | 0.0% |
Summary: The Norwell real estate market had 22 homes for sale in March 2024, the same as February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 4 | +100.0% |
| 3 Bedrooms | 8 | 3 | -62.5% |
| 4 Bedrooms | 8 | 12 | +50.0% |
| 5+ Bedrooms | 4 | 3 | -25.0% |
Summary: The Norwell housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes decreased by 62.5%, 4 bedroom homes increased by 50%, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 7 | 3 | -57.1% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Norwell, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Norwell in March 2024, down by 57.1% month-over-month. Of the 3 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Norwell, MA
How long does it take to sell a home in Norwell, MA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 29 Days | 27 Days | -4.6% |
Summary: Homes in Norwell had an average of 27 days on market in Mar 2024, down by 4.6% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Norwell are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 3 homes were sold in Norwell; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
