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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Norwell is a seller's market

Buyer's
Market

Difference Since May 2021

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

Key Takeaway

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

How much do homes in Norwell, MA cost?

Median Sold Price

$849,500

$341/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2021

+$94,500(+12.5%)

Key Takeaway

Homes in Norwell have sold for 12.5% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSMay 2021May 2022%
1 $430K-
N/A
2 $615K$727.5K
+18.3%
3 $632.5K$661K
+4.5%
4 $860K$1.0M
+16.3%
5+ $1.3M$1.6M
+17.4%

Median Sold Price Compared To Nearby Cities

Hanover
+17.2%
Scituate
+17.0%
Rockland
+16.2%
Norwell
+12.5%
Marshfield
+12.2%

How many homes are available in Norwell, MA?

Number of Homes For Sale

Apr 2022May 2022%
55550.0%

Homes For Sale By Bedroom Count

# BEDSApr 2022May 2022%
1 00
0.0%
2 42
-50.0%
3 1815
-16.7%
4 2227
+22.7%
5+ 1111
0.0%

Number of Homes Sold

Apr 2022May 2022%
1416+14.3%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

14 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Norwell, you could pay more than the asking price. 87.5% of homes here sold above asking price last month.

Average Sale Time

May 2021May 2022%
71 Days17 Days-75.8%

Breakdown of Home Sale Times

16 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Norwell 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 Norwell, MA

Number of homes for sale in Norwell, MA real estate market have reached 55. In May 2022, listings were on the market for 17 days. During the same period, the median list price in this real estate market was $849,500. From April 2022 through May 2022, the following changes in listing prices were observed in this housing market: the cost of 1 bedroom properties went up by 0%, 2 bedrooms properties became 18.3% more expensive, 3 bedrooms properties prices increased by 4.5%, 4 bedrooms properties prices increased by 16.3%, the cost of 5 bedrooms properties went up by 17.4%. Housing inventory have changed in this real estate market: 1 bedroom homes did not move, number of 2 bedrooms homes decreased by 50%, number of 3 bedrooms homes decreased by 16.7%, the quantity of 4 bedrooms homes went up by 22.7%, the quantity of 5 bedrooms homes have not changed. In May 2022 more than 14 listings in Norwell, 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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