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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Norwood is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in Norwood, MA

How much do homes in Norwood, MA cost?

Median Sold Price

$625,000

$393/sqft

Based on all homes sold in the last 12 months.

The Median Sold Price hasn't changed since May 2023.

Key Takeaway

The sold price of homes in Norwood has remained the same since last year.

Summary: The median home sold price in Norwood was $625,000 in May 2024, the same as last year, and the median price per square foot was $393.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $305K$257.5K
-15.6%
2 $470K$500K
+6.4%
3 $635K$617.5K
-2.8%
4 $671K$748K
+11.5%
5+ $845K$950K
+12.4%

Summary: Norwood housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 15.6%, 2 bedroom homes increased by 6.4%, 3 bedroom homes decreased by 2.8%, 4 bedroom homes increased by 11.5%, and 5+ bedroom homes increased by 12.4%.

Median Sold Price Compared To Nearby Cities

Canton
+7.5%
Walpole
+3.8%
Norwood
0.0%
East Walpole
-4.1%
Westwood
-12.5%

Housing Supply in Norwood, MA

How many homes are available in Norwood, MA?

Number of Homes For Sale

Apr 2024May 2024CHANGE
3850+31.6%

Summary: The Norwood real estate market had 50 homes for sale in May 2024, a 31.6% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 11
0.0%
2 912
+33.3%
3 1519
+26.7%
4 1012
+20.0%
5+ 36
+100.0%

Summary: The Norwood housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 33.3%, 3 bedroom homes increased by 26.7%, 4 bedroom homes increased by 20%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Apr 2024May 2024CHANGE
1214+16.7%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

1 Home Was Sold
At Asking

12 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Norwood, you could pay more than the asking price. 85.7% of homes here sold above asking price last month.

Summary: A total of 14 homes were sold or pending in Norwood in May 2024, up by 16.7% month-over-month. Of the 14 sold homes, 7% were sold under asking, 7% were sold at asking, and 86% were sold over asking.

Days on Market for Norwood, MA

How long does it take to sell a home in Norwood, MA?

Average Sale Time

May 2023May 2024CHANGE
22 Days14 Days-37.6%

Summary: Homes in Norwood had an average of 14 days on market in May 2024, down by 37.6% compared to last year.

Breakdown of Home Sale Times

13 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Norwood are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 14 homes were sold in Norwood; 93% of homes were sold within 30 days, 7% of homes were sold within 30 to 90 days, and 0% 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 16 Days Ago

Newest Listings in Norwood, MA

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