Is Norwich Township, OH 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, Norwich Township has remained a Seller's Market.
Key Takeaway
Norwich Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Norwich Township, OH
How much do homes in Norwich Township, OH cost?
Median Sold Price
$401,250
$192/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Norwich Township have sold for 4.3% more than they did a year ago.
Summary: The median home sold price in Norwich Township was $401,250 in March 2024, up 4.3% from last year, and the median price per square foot was $192.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $149.9K | - | N/A |
| 2 Bedrooms | $254.5K | $292K | +14.7% |
| 3 Bedrooms | $332.5K | $335K | +0.8% |
| 4 Bedrooms | $450K | $473.5K | +5.2% |
| 5+ Bedrooms | $560K | $596K | +6.4% |
Summary: Norwich Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 14.7%, 3 bedroom homes increased by 0.8%, 4 bedroom homes increased by 5.2%, and 5+ bedroom homes increased by 6.4%.
Median Sold Price Compared To Nearby Cities
| Washington Township | $342.5K | $430.4K | +25.7% |
| Upper Arlington | $533K | $573.3K | +7.6% |
| Columbus | $259.8K | $278.8K | +7.3% |
| Norwich Township | $384.7K | $401.2K | +4.3% |
| Hilliard | $359.7K | $365.4K | +1.6% |
Housing Supply in Norwich Township, OH
How many homes are available in Norwich Township, OH?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 82 | 79 | -3.7% |
Summary: The Norwich Township real estate market had 79 homes for sale in March 2024, a 3.7% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 4 | 5 | +25.0% |
| 3 Bedrooms | 39 | 34 | -12.8% |
| 4 Bedrooms | 31 | 34 | +9.7% |
| 5+ Bedrooms | 8 | 6 | -25.0% |
Summary: The Norwich Township 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 increased by 25%, 3 bedroom homes decreased by 12.8%, 4 bedroom homes increased by 9.7%, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 29 | 27 | -6.9% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Norwich Township, you could pay more than the asking price. 40.7% of homes here sold above asking price last month.
Summary: A total of 27 homes were sold or pending in Norwich Township in March 2024, down by 6.9% month-over-month. Of the 27 sold homes, 37% were sold under asking, 22% were sold at asking, and 41% were sold over asking.
Days on Market for Norwich Township, OH
How long does it take to sell a home in Norwich Township, OH?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 31 Days | 33 Days | +7.0% |
Summary: Homes in Norwich Township had an average of 33 days on market in Mar 2024, up by 7% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Norwich Township are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 27 homes were sold in Norwich Township; 70% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 19% of homes were sold over 90 days.
The information is being provided by Columbus and Central Ohio Regional Multiple Listing Service. Information deemed reliable but not guaranteed. Information is provided for consumers' personal, non-commercial use, and may not be used for any purpose other than the identification of potential properties for purchase.