Is Norfolk County, MA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Norfolk County is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Norfolk County has remained a Seller's Market.

Key Takeaway

Norfolk County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

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

+$49,504(+7.6%)

Key Takeaway

Homes in Norfolk County have sold for 7.6% more than they did a year ago.

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

# BEDSMay 2023May 2024CHANGE
1 $348K$364.1K
+4.6%
2 $478.2K$520K
+8.8%
3 $600K$656.4K
+9.4%
4 $828.1K$869.2K
+5.0%
5+ $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
+8.7%
Plymouth County
+8.4%
Bristol County
+8.0%
Norfolk County
+7.6%
Suffolk County
+3.7%

Housing Supply in Norfolk County, MA

How many homes are available in Norfolk County, MA?

Number of Homes For Sale

Apr 2024May 2024CHANGE
1,8122,120+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

# BEDSApr 2024May 2024CHANGE
1 95103
+8.4%
2 417424
+1.7%
3 517633
+22.4%
4 474588
+24.1%
5+ 309372
+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 2024May 2024CHANGE
463498+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

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Norfolk County, you could pay more than the asking price. 67.3% of homes here sold above asking price last month.

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 2023May 2024CHANGE
29 Days23 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

Breakdown of Home Sale Times

Key Takeaway

Many homes in Norfolk County are selling fast, if you're buying plan to act quickly.

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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 1 Day Ago

Newest Listings in Norfolk County, MA

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