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 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

-$35,000(-4.0%)

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

# BEDSNov 2022Nov 2023CHANGE
1 --
N/A
2 $720K$607.5K
-15.6%
3 $757K$747.5K
-1.3%
4 $1.0M$1.0M
-5.0%
5+ $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
+10.0%
Hanover
+5.7%
Pembroke
+2.1%
Scituate
-0.2%
Norwell
-4.0%

Housing Supply in Norwell, MA

How many homes are available in Norwell, MA?

Number of Homes For Sale

Oct 2023Nov 2023CHANGE
3633-8.3%

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

# BEDSOct 2023Nov 2023CHANGE
1 00
0.0%
2 65
-16.7%
3 1212
0.0%
4 1312
-7.7%
5+ 54
-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 2023Nov 2023CHANGE
712+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

Asking vs Sold - buyer

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 2022Nov 2023CHANGE
29 Days31 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

Breakdown of Home Sale Times

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.

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

Report Updated 7 Days Ago

Newest Listings in Norwell, MA

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