Is Norwich, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, Norwich was a Seller's Market.
Key Takeaway
Norwich is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Norwich, NY
How much do homes in Norwich, NY cost?
Median Sold Price
$169,562
$80/sqft
Based on all homes sold in March 2024.
Difference Since Last Month
Key Takeaway
Homes in Norwich have sold for 48.1% more than they did a month ago.
Summary: The median home sold price in Norwich was $169,562 in March 2024, up 48.1% from last month, and the median price per square foot was $80.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $90K | - | N/A |
| 3 Bedrooms | $98.9K | $141.6K | +43.1% |
| 4 Bedrooms | $306.4K | $197.5K | -35.5% |
| 5+ Bedrooms | $425K | - | N/A |
Summary: Norwich housing prices by bedroom type for March 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 43.1%, 4 bedroom homes decreased by 35.5%, and 5+ bedroom homes did not change.
Housing Supply in Norwich, NY
How many homes are available in Norwich, NY?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 38 | 38 | 0.0% |
Summary: The Norwich real estate market had 38 homes for sale in March 2024, the same as February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 5 | 4 | -20.0% |
| 3 Bedrooms | 11 | 15 | +36.4% |
| 4 Bedrooms | 11 | 10 | -9.1% |
| 5+ Bedrooms | 11 | 9 | -18.2% |
Summary: The Norwich housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 20%, 3 bedroom homes increased by 36.4%, 4 bedroom homes decreased by 9.1%, and 5+ bedroom homes decreased by 18.2%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 9 | 2 | -77.8% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Norwich, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 2 homes were sold or pending in Norwich in March 2024, down by 77.8% month-over-month. Of the 2 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for Norwich, NY
How long does it take to sell a home in Norwich, NY?
Average Sale Time
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 215 Days | 72 Days | -66.6% |
Summary: Homes in Norwich had an average of 72 days on market in Mar 2024, down by 66.6% compared to last month.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Norwich are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 2 homes were sold in Norwich; 50% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.
Listings courtesy of OneKey MLS as distributed by MLS GRID.
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the OneKey™ MLS. Real Estate listings held by brokerage firms other than this broker are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers. This information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. 
The data relating to real estate on this website comes in part from the Internet Data Exchange program of the Global MLS (GMLS). All information is deemed reliable but not guaranteed and should be independently verified. All properties subject to prior sale, change, or withdrawal. Neither listing broker(s), GMLS shall be responsible for any typographical errors, misinformation, or misprints, and shall be held totally harmless from any damages arising from reliance upon these data. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties they may be interested in purchasing.