Is Norwell, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Norwell has remained a Seller's Market.
Housing Prices in Norwell, MA
How much do homes in Norwell, MA cost?
Median Sold Price
$860,000
$388/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Norwell was $860,000 in April 2024, down 2.3% from last year, and the median price per square foot was $388.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $555K | $600K | +8.1% |
3 Bedrooms | $725K | $780K | +7.6% |
4 Bedrooms | $950K | $1.1M | +21.1% |
5+ Bedrooms | $1.5M | $2.0M | +35.3% |
Summary: Norwell housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 8.1%, 3 bedroom homes increased by 7.6%, 4 bedroom homes increased by 21.1%, and 5+ bedroom homes increased by 35.3%.
Median Sold Price Compared To Nearby Cities
Marshfield | $645K | $742.5K | +15.1% |
Hanover | $705.5K | $755K | +7.0% |
Pembroke | $573.7K | $575K | 0.2% |
Scituate | $862.5K | $850K | -1.4% |
Norwell | $880K | $860K | -2.3% |
Housing Supply in Norwell, MA
How many homes are available in Norwell, MA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
25 | 23 | -8.0% |
Summary: The Norwell real estate market had 23 homes for sale in April 2024, a 8.0% decrease compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 4 | 4 | 0.0% |
3 Bedrooms | 5 | 6 | +20.0% |
4 Bedrooms | 12 | 8 | -33.3% |
5+ Bedrooms | 4 | 5 | +25.0% |
Summary: The Norwell housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 20%, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
3 | 7 | +133.3% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 7 homes were sold or pending in Norwell in April 2024, up by 133.3% month-over-month. Of the 7 sold homes, 57% were sold under asking, 0% were sold at asking, and 43% were sold over asking.
Days on Market for Norwell, MA
How long does it take to sell a home in Norwell, MA?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
57 Days | 30 Days | -46.2% |
Summary: Homes in Norwell had an average of 30 days on market in Apr 2024, down by 46.2% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 7 homes were sold in Norwell; 71% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.