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 2021

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.

How much do homes in Norwood, MA cost?

Median Sold Price

$611,200

$356/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2021

+$70,200(+13.0%)

Key Takeaway

Homes in Norwood have sold for 13% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSMay 2021May 2022%
1 $284K$261.5K
-7.9%
2 $475K$475K
0.0%
3 $540K$611.5K
+13.2%
4 $600K$715K
+19.2%
5+ $692.4K$700K
+1.1%

Median Sold Price Compared To Nearby Cities

Westwood
+16.7%
Canton
+14.8%
Norwood
+13.0%
East Walpole
+11.0%
Walpole
+9.9%

How many homes are available in Norwood, MA?

Number of Homes For Sale

Apr 2022May 2022%
91102+12.1%

Homes For Sale By Bedroom Count

# BEDSApr 2022May 2022%
1 76
-14.3%
2 1717
0.0%
3 2836
+28.6%
4 3433
-2.9%
5+ 510
+100.0%

Number of Homes Sold

Apr 2022May 2022%
2331+34.8%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

24 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. 77.4% of homes here sold above asking price last month.

Average Sale Time

May 2021May 2022%
26 Days19 Days-27.4%

Breakdown of Home Sale Times

26 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

1 Home Was 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.

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

About Norwood, MA

Number of homes for sale in Norwood, MA real estate market have reached 102. The number of listings in Norwood, MA increased by 12.1% between April 2022 and May 2022. While the average time on the market in May 2022 was 19 days, the median list price was $611,200. From April 2022 through May 2022, the following changes in listing prices were observed in this housing market: prices of 1 bedroom properties decreased by 7.9%, 2 bedrooms properties did not move, prices of 3 bedrooms properties went up by 13.2%, the cost of 4 bedrooms properties went up by 19.2%, prices of 5 bedrooms properties increased by 1.1%. Housing inventory have changed in this real estate market: 1 bedroom homes inventory decreased by 14.3%, 2 bedrooms homes inventory did not change, 3 bedrooms homes became 28.6% more available, 4 bedrooms homes inventory decreased by 2.9%, number of 5 bedrooms homes increased by 100%. In May 2022, from all listings sold in Norwood, MA there were more than 24 sold above asking price, over 4 sold below and more than 3 were sold right at the asked price.

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