Is Norwood, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 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
$391/sqft
Based on all homes sold in the last 12 months.
The Median Sold Price hasn't changed since March 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 March 2024, the same as last year, and the median price per square foot was $391.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $268K | $270K | +0.7% |
| 2 Bedrooms | $485K | $485K | 0.0% |
| 3 Bedrooms | $635K | $612.5K | -3.5% |
| 4 Bedrooms | $700K | $738K | +5.4% |
| 5+ Bedrooms | $780K | $935K | +19.9% |
Summary: Norwood housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 0.7%, 2 bedroom homes did not change, 3 bedroom homes decreased by 3.5%, 4 bedroom homes increased by 5.4%, and 5+ bedroom homes increased by 19.9%.
Housing Supply in Norwood, MA
How many homes are available in Norwood, MA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 39 | 35 | -10.3% |
Summary: The Norwood real estate market had 35 homes for sale in March 2024, a 10.3% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 13 | 11 | -15.4% |
| 3 Bedrooms | 15 | 11 | -26.7% |
| 4 Bedrooms | 7 | 7 | 0.0% |
| 5+ Bedrooms | 4 | 5 | +25.0% |
Summary: The Norwood housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 15.4%, 3 bedroom homes decreased by 26.7%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 12 | 18 | +50.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Norwood, you could pay more than the asking price. 72.2% of homes here sold above asking price last month.
Summary: A total of 18 homes were sold or pending in Norwood in March 2024, up by 50.0% month-over-month. Of the 18 sold homes, 28% were sold under asking, 0% were sold at asking, and 72% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 31 Days | 16 Days | -47.9% |
Summary: Homes in Norwood had an average of 16 days on market in Mar 2024, down by 47.9% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
3 Homes Were 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 March 2024, 18 homes were sold in Norwood; 83% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
