Is Norwood, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 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
$393/sqft
Based on all homes sold in the last 12 months.
The Median Sold Price hasn't changed since May 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 May 2024, the same as last year, and the median price per square foot was $393.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $305K | $257.5K | -15.6% |
| 2 Bedrooms | $470K | $500K | +6.4% |
| 3 Bedrooms | $635K | $617.5K | -2.8% |
| 4 Bedrooms | $671K | $748K | +11.5% |
| 5+ Bedrooms | $845K | $950K | +12.4% |
Summary: Norwood housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 15.6%, 2 bedroom homes increased by 6.4%, 3 bedroom homes decreased by 2.8%, 4 bedroom homes increased by 11.5%, and 5+ bedroom homes increased by 12.4%.
Housing Supply in Norwood, MA
How many homes are available in Norwood, MA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 38 | 50 | +31.6% |
Summary: The Norwood real estate market had 50 homes for sale in May 2024, a 31.6% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 9 | 12 | +33.3% |
| 3 Bedrooms | 15 | 19 | +26.7% |
| 4 Bedrooms | 10 | 12 | +20.0% |
| 5+ Bedrooms | 3 | 6 | +100.0% |
Summary: The Norwood housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 33.3%, 3 bedroom homes increased by 26.7%, 4 bedroom homes increased by 20%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 12 | 14 | +16.7% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
12 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Norwood, you could pay more than the asking price. 85.7% of homes here sold above asking price last month.
Summary: A total of 14 homes were sold or pending in Norwood in May 2024, up by 16.7% month-over-month. Of the 14 sold homes, 7% were sold under asking, 7% were sold at asking, and 86% 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
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 22 Days | 14 Days | -37.6% |
Summary: Homes in Norwood had an average of 14 days on market in May 2024, down by 37.6% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
1 Home Was 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 May 2024, 14 homes were sold in Norwood; 93% of homes were sold within 30 days, 7% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
