Is Norwell, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2022
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.
Housing Prices in Norwell, MA
How much do homes in Norwell, MA cost?
Median Sold Price
$843,000
$372/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2022
Key Takeaway
Homes in Norwell have sold for 4% less than they did a year ago.
Summary: The median home sold price in Norwell was $843,000 in November 2023, down 4% from last year, and the median price per square foot was $372.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2022 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $720K | $607.5K | -15.6% |
| 3 Bedrooms | $757K | $747.5K | -1.3% |
| 4 Bedrooms | $1.0M | $1.0M | -5.0% |
| 5+ Bedrooms | $1.6M | $1.9M | +14.2% |
Summary: Norwell housing prices by bedroom type for November 2023 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 15.6%, 3 bedroom homes decreased by 1.3%, 4 bedroom homes decreased by 5%, and 5+ bedroom homes increased by 14.2%.
Median Sold Price Compared To Nearby Cities
| Marshfield | $650K | $715K | +10.0% |
| Hanover | $705K | $745K | +5.7% |
| Pembroke | $557.5K | $569K | +2.1% |
| Scituate | $852K | $850K | -0.2% |
| Norwell | $878K | $843K | -4.0% |
Housing Supply in Norwell, MA
How many homes are available in Norwell, MA?
Number of Homes For Sale
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 36 | 33 | -8.3% |
Summary: The Norwell real estate market had 33 homes for sale in November 2023, a 8.3% decrease compared to October 2023.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 6 | 5 | -16.7% |
| 3 Bedrooms | 12 | 12 | 0.0% |
| 4 Bedrooms | 13 | 12 | -7.7% |
| 5+ Bedrooms | 5 | 4 | -20.0% |
Summary: The Norwell housing inventory by bedroom type for November 2023 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 16.7%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 7.7%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 7 | 12 | +71.4% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Norwell, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 12 homes were sold or pending in Norwell in November 2023, up by 71.4% month-over-month. Of the 12 sold homes, 50% were sold under asking, 17% were sold at asking, and 33% 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
| Nov 2022 | Nov 2023 | CHANGE |
|---|---|---|
| 29 Days | 31 Days | +4.9% |
Summary: Homes in Norwell had an average of 31 days on market in Nov 2023, up by 4.9% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Norwell are selling fast, if you're buying plan to act quickly.
Summary: During November 2023, 12 homes were sold in Norwell; 67% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
