$5,106 Closing Credit*
$430,000
1,054 SqFt
2 Beds
•2 Full Baths
#73312148, Deborah Berenson, Listing Office: Keller Williams Realty
Is Norwell, MA 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, Norwell has remained a Seller's Market.
Key Takeaway
Norwell is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Norwell, MA
How much do homes in Norwell, MA cost?
Median Sold Price
$997,500
$401/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$166,000(+20.0%)
Key Takeaway
Homes in Norwell have sold for 20% more than they did a year ago.
Summary: The median home sold price in Norwell was $997,500 in October 2024, up 20% from last year, and the median price per square foot was $401.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $735K | $782K | +6.4% |
| 3 Bedrooms | $713.5K | $800K | +12.1% |
| 4 Bedrooms | $999K | $1.2M | +27.6% |
| 5+ Bedrooms | $1.8M | $1.9M | +1.1% |
Summary: Norwell housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 6.4%, 3 bedroom homes increased by 12.1%, 4 bedroom homes increased by 27.6%, and 5+ bedroom homes increased by 1.1%.
Median Sold Price Compared To Nearby Cities
| Norwell | $831.5K | $997.5K | +20.0% |
| Hanover | $722.5K | $777.4K | +7.6% |
| Marshfield | $710K | $762K | +7.3% |
| Pembroke | $560K | $585.5K | +4.6% |
| Scituate | $860K | $865K | +0.6% |
Housing Supply in Norwell, MA
How many homes are available in Norwell, MA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 43 | 40 | -7.0% |
Summary: The Norwell real estate market had 40 homes for sale in October 2024, a 7.0% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 4 | 3 | -25.0% |
| 3 Bedrooms | 11 | 10 | -9.1% |
| 4 Bedrooms | 20 | 20 | 0.0% |
| 5+ Bedrooms | 8 | 7 | -12.5% |
Summary: The Norwell housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 25%, 3 bedroom homes decreased by 9.1%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 12.5%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 13 | 12 | -7.7% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Norwell, you may be able to get a good deal. 41.7% of homes here sold below asking price last month.
Summary: A total of 12 homes were sold or pending in Norwell in October 2024, down by 7.7% month-over-month. Of the 12 sold homes, 42% were sold under asking, 42% were sold at asking, and 17% were sold over asking.
Days on Market for Norwell, MA
How long does it take to sell a home in Norwell, MA?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 60 Days | 31 Days | -48.0% |
Summary: Homes in Norwell had an average of 31 days on market in Oct 2024, down by 48% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Norwell are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 12 homes were sold in Norwell; 58% of homes were sold within 30 days, 42% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
