Is Norwood, NC 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, NC
How much do homes in Norwood, NC cost?
Median Sold Price
$280,000
$187/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Norwood have sold for 13.4% more than they did a year ago.
Summary: The median home sold price in Norwood was $280,000 in May 2024, up 13.4% from last year, and the median price per square foot was $187.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $379.9K | - | N/A |
| 2 Bedrooms | $185K | $365K | +97.3% |
| 3 Bedrooms | $247K | $249.7K | +1.1% |
| 4 Bedrooms | $486K | $567.5K | +16.8% |
| 5+ Bedrooms | $2.5M | $1.3M | -46.1% |
Summary: Norwood housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 97.3%, 3 bedroom homes increased by 1.1%, 4 bedroom homes increased by 16.8%, and 5+ bedroom homes decreased by 46.1%.
Median Sold Price Compared To Nearby Cities
| Norwood | $247K | $280K | +13.4% |
| Center Township | $250K | $276K | +10.4% |
Housing Supply in Norwood, NC
How many homes are available in Norwood, NC?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 32 | 38 | +18.8% |
Summary: The Norwood real estate market had 38 homes for sale in May 2024, a 18.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 13 | 15 | +15.4% |
| 3 Bedrooms | 12 | 14 | +16.7% |
| 4 Bedrooms | 5 | 7 | +40.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
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 15.4%, 3 bedroom homes increased by 16.7%, 4 bedroom homes increased by 40%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 7 | 7 | 0.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Norwood, you may be able to get a good deal. 85.7% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in Norwood in May 2024, the same as the previous month. Of the 7 sold homes, 86% were sold under asking, 0% were sold at asking, and 14% were sold over asking.
Days on Market for Norwood, NC
How long does it take to sell a home in Norwood, NC?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 82 Days | 69 Days | -16.1% |
Summary: Homes in Norwood had an average of 69 days on market in May 2024, down by 16.1% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
3 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, 7 homes were sold in Norwood; 43% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 43% of homes were sold over 90 days.
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