Is Norfolk County, 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, Norfolk County has remained a Seller's Market.
Housing Prices in Norfolk County, MA
How much do homes in Norfolk County, MA cost?
Median Sold Price
$700,320
$392/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Norfolk County was $700,320 in May 2024, up 7.6% from last year, and the median price per square foot was $392.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $348K | $364.1K | +4.6% |
2 Bedrooms | $478.2K | $520K | +8.8% |
3 Bedrooms | $600K | $656.4K | +9.4% |
4 Bedrooms | $828.1K | $869.2K | +5.0% |
5+ Bedrooms | $1.2M | $1.4M | +10.2% |
Summary: Norfolk County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.6%, 2 bedroom homes increased by 8.8%, 3 bedroom homes increased by 9.4%, 4 bedroom homes increased by 5%, and 5+ bedroom homes increased by 10.2%.
Median Sold Price Compared To Nearby Counties
Middlesex County | $713.1K | $775.2K | +8.7% |
Plymouth County | $539.3K | $584.7K | +8.4% |
Bristol County | $449.9K | $486K | +8.0% |
Norfolk County | $650.8K | $700.3K | +7.6% |
Suffolk County | $749.8K | $777.2K | +3.7% |
Housing Supply in Norfolk County, MA
How many homes are available in Norfolk County, MA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
1,812 | 2,120 | +17.0% |
Summary: The Norfolk County real estate market had 2,120 homes for sale in May 2024, a 17.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 95 | 103 | +8.4% |
2 Bedrooms | 417 | 424 | +1.7% |
3 Bedrooms | 517 | 633 | +22.4% |
4 Bedrooms | 474 | 588 | +24.1% |
5+ Bedrooms | 309 | 372 | +20.4% |
Summary: The Norfolk County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 8.4%, 2 bedroom homes increased by 1.7%, 3 bedroom homes increased by 22.4%, 4 bedroom homes increased by 24.1%, and 5+ bedroom homes increased by 20.4%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
463 | 498 | +7.6% |
Asking Price vs. Sold Price
116 Homes Were Sold
Under Asking
47 Homes Were Sold
At Asking
335 Homes Were Sold
Over Asking
Summary: A total of 498 homes were sold or pending in Norfolk County in May 2024, up by 7.6% month-over-month. Of the 498 sold homes, 23% were sold under asking, 9% were sold at asking, and 67% were sold over asking.
Days on Market for Norfolk County, MA
How long does it take to sell a home in Norfolk County, MA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
29 Days | 23 Days | -20.7% |
Summary: Homes in Norfolk County had an average of 23 days on market in May 2024, down by 20.7% compared to last year.
Breakdown of Home Sale Times
420 Homes Were Sold
Under 30 Days
62 Homes Were Sold
In 30 - 90 Days
16 Homes Were Sold
Over 90 Days
Summary: During May 2024, 498 homes were sold in Norfolk County; 84% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.