$2,850 Closing Credit*
$240,000
1,326 SqFt
3 Beds
•1 Full Bath
Jonathan Gineo, Listing Office: Silver and Oak Realty
Is Norwich, CT a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Norwich has remained a Seller's Market.
Key Takeaway
Norwich is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Norwich, CT
How much do homes in Norwich, CT cost?
Median Sold Price
$252,000
$174/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$26,750(+11.9%)
Key Takeaway
Homes in Norwich have sold for 11.9% more than they did a year ago.
Summary: The median home sold price in Norwich was $252,000 in October 2024, up 11.9% from last year, and the median price per square foot was $174.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $130K | $168K | +29.2% |
| 2 Bedrooms | $185K | $210K | +13.5% |
| 3 Bedrooms | $245K | $272.5K | +11.2% |
| 4 Bedrooms | $275K | $318.5K | +15.8% |
| 5+ Bedrooms | $283K | $300.2K | +6.1% |
Summary: Norwich housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 29.2%, 2 bedroom homes increased by 13.5%, 3 bedroom homes increased by 11.2%, 4 bedroom homes increased by 15.8%, and 5+ bedroom homes increased by 6.1%.
Median Sold Price Compared To Nearby Cities
| Taftville | $212.5K | $257.5K | +21.2% |
| Norwich | $225.2K | $252K | +11.9% |
| Preston | $351K | $355K | +1.1% |
Housing Supply in Norwich, CT
How many homes are available in Norwich, CT?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 194 | 200 | +3.1% |
Summary: The Norwich real estate market had 200 homes for sale in October 2024, a 3.1% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 10 | 12 | +20.0% |
| 2 Bedrooms | 43 | 45 | +4.7% |
| 3 Bedrooms | 67 | 63 | -6.0% |
| 4 Bedrooms | 39 | 49 | +25.6% |
| 5+ Bedrooms | 35 | 31 | -11.4% |
Summary: The Norwich housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 20%, 2 bedroom homes increased by 4.7%, 3 bedroom homes decreased by 6%, 4 bedroom homes increased by 25.6%, and 5+ bedroom homes decreased by 11.4%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 44 | 51 | +15.9% |
Asking Price vs. Sold Price
16 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
27 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Norwich, you could pay more than the asking price. 52.9% of homes here sold above asking price last month.
Summary: A total of 51 homes were sold or pending in Norwich in October 2024, up by 15.9% month-over-month. Of the 51 sold homes, 31% were sold under asking, 16% were sold at asking, and 53% were sold over asking.
Days on Market for Norwich, CT
We’re sorry, we don't have information for this market at the moment
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