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 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

-$10,000(-1.6%)

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

# BEDSNov 2022Nov 2023CHANGE
1 $268K$257.5K
-3.9%
2 $485K$480K
-1.0%
3 $635K$625K
-1.6%
4 $705K$701.5K
-0.5%
5+ $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%.

Median Sold Price Compared To Nearby Cities

Walpole
+8.6%
East Walpole
+5.4%
Canton
+4.6%
Norwood
-1.6%
Westwood
-7.0%

Housing Supply in Norwood, MA

How many homes are available in Norwood, MA?

Number of Homes For Sale

Oct 2023Nov 2023CHANGE
5655-1.8%

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

# BEDSOct 2023Nov 2023CHANGE
1 01
+100.0%
2 1112
+9.1%
3 2328
+21.7%
4 1511
-26.7%
5+ 73
-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 2023Nov 2023CHANGE
1715-11.8%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

9 Homes Were Sold
Over Asking

Asking vs Sold - buyer

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 2022Nov 2023CHANGE
19 Days17 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

Breakdown of Home Sale Times

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.

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

Report Updated 8 Days Ago

Newest Listings in Norwood, MA

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