Is Norwood Township, MO a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Norwood Township is a seller's market

Buyer's
Market

Difference Since February 2023

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

Key Takeaway

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

Housing Prices in Norwood Township, MO

How much do homes in Norwood Township, MO cost?

Median Sold Price

$65,000

$72/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

-$10,375(-13.8%)

Key Takeaway

Homes in Norwood Township have sold for 13.8% less than they did a year ago.

Summary: The median home sold price in Norwood Township was $65,000 in February 2024, down 13.8% from last year, and the median price per square foot was $72.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $39.7K$31.9K
-19.6%
2 $55.5K$55K
-1.0%
3 $98.5K$77.1K
-21.7%
4 $95.5K$116.5K
+22.0%
5+ $117.5K$180K
+53.2%

Summary: Norwood Township housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 19.6%, 2 bedroom homes decreased by 1%, 3 bedroom homes decreased by 21.7%, 4 bedroom homes increased by 22%, and 5+ bedroom homes increased by 53.2%.

Median Sold Price Compared To Nearby Cities

Jennings
+1.6%
Dellwood
-2.1%
Ferguson
-13.1%
Norwood Township
-13.8%

Housing Supply in Norwood Township, MO

How many homes are available in Norwood Township, MO?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
1411410.0%

Summary: The Norwood Township real estate market had 141 homes for sale in February 2024, the same as January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 24
+100.0%
2 6363
0.0%
3 5960
+1.7%
4 1412
-14.3%
5+ 32
-33.3%

Summary: The Norwood Township housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 1.7%, 4 bedroom homes decreased by 14.3%, and 5+ bedroom homes decreased by 33.3%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
3336+9.1%

Asking Price vs. Sold Price

26 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Norwood Township, you may be able to get a good deal. 72.2% of homes here sold below asking price last month.

Summary: A total of 36 homes were sold or pending in Norwood Township in February 2024, up by 9.1% month-over-month. Of the 36 sold homes, 72% were sold under asking, 14% were sold at asking, and 14% were sold over asking.

Days on Market for Norwood Township, MO

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

Average Sale Time

Feb 2023Feb 2024CHANGE
38 Days60 Days+55.9%

Summary: Homes in Norwood Township had an average of 60 days on market in Feb 2024, up by 55.9% compared to last year.

Breakdown of Home Sale Times

12 Homes Were Sold
Under 30 Days

15 Homes Were Sold
In 30 - 90 Days

8 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Norwood Township has remained consistent over time.

Summary: During February 2024, 36 homes were sold in Norwood Township; 33% of homes were sold within 30 days, 42% of homes were sold within 30 to 90 days, and 22% 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 27 Days Ago

Newest Listings in Norwood Township, MO

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