Is Norwood, 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, 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
$385/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2022
Key Takeaway
Homes in Norwood have sold for 1.6% less than they did a year ago.
Summary: The median home sold price in Norwood was $625,000 in November 2023, down 1.6% from last year, and the median price per square foot was $385.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2022 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $268K | $257.5K | -3.9% |
| 2 Bedrooms | $485K | $480K | -1.0% |
| 3 Bedrooms | $635K | $625K | -1.6% |
| 4 Bedrooms | $705K | $701.5K | -0.5% |
| 5+ Bedrooms | $770K | $907.5K | +17.9% |
Summary: Norwood housing prices by bedroom type for November 2023 compared to the previous year: The home price of 1 bedroom homes decreased by 3.9%, 2 bedroom homes decreased by 1%, 3 bedroom homes decreased by 1.6%, 4 bedroom homes decreased by 0.5%, and 5+ bedroom homes increased by 17.9%.
Housing Supply in Norwood, MA
How many homes are available in Norwood, MA?
Number of Homes For Sale
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 56 | 55 | -1.8% |
Summary: The Norwood real estate market had 55 homes for sale in November 2023, a 1.8% decrease compared to October 2023.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 11 | 12 | +9.1% |
| 3 Bedrooms | 23 | 28 | +21.7% |
| 4 Bedrooms | 15 | 11 | -26.7% |
| 5+ Bedrooms | 7 | 3 | -57.1% |
Summary: The Norwood housing inventory by bedroom type for November 2023 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 9.1%, 3 bedroom homes increased by 21.7%, 4 bedroom homes decreased by 26.7%, and 5+ bedroom homes decreased by 57.1%.
Number of Homes Sold
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 17 | 15 | -11.8% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Norwood, you could pay more than the asking price. 60% of homes here sold above asking price last month.
Summary: A total of 15 homes were sold or pending in Norwood in November 2023, down by 11.8% month-over-month. Of the 15 sold homes, 27% were sold under asking, 13% were sold at asking, and 60% 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
| Nov 2022 | Nov 2023 | CHANGE |
|---|---|---|
| 19 Days | 17 Days | -11.6% |
Summary: Homes in Norwood had an average of 17 days on market in Nov 2023, down by 11.6% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Norwood are selling fast, if you're buying plan to act quickly.
Summary: During November 2023, 15 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.
