Is Norwood, 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, Norwood has remained a Seller's Market.
Housing Prices in Norwood, MA
How much do homes in Norwood, MA cost?
Median Sold Price
$625,000
$393/sqft
Based on all homes sold in the last 12 months.
The Median Sold Price hasn't changed since May 2023.
Summary: The median home sold price in Norwood was $625,000 in May 2024, the same as last year, and the median price per square foot was $393.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $305K | $257.5K | -15.6% |
2 Bedrooms | $470K | $500K | +6.4% |
3 Bedrooms | $635K | $617.5K | -2.8% |
4 Bedrooms | $671K | $748K | +11.5% |
5+ Bedrooms | $845K | $950K | +12.4% |
Summary: Norwood housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 15.6%, 2 bedroom homes increased by 6.4%, 3 bedroom homes decreased by 2.8%, 4 bedroom homes increased by 11.5%, and 5+ bedroom homes increased by 12.4%.
Housing Supply in Norwood, MA
How many homes are available in Norwood, MA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
38 | 50 | +31.6% |
Summary: The Norwood real estate market had 50 homes for sale in May 2024, a 31.6% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 9 | 12 | +33.3% |
3 Bedrooms | 15 | 19 | +26.7% |
4 Bedrooms | 10 | 12 | +20.0% |
5+ Bedrooms | 3 | 6 | +100.0% |
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 33.3%, 3 bedroom homes increased by 26.7%, 4 bedroom homes increased by 20%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
12 | 14 | +16.7% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
12 Homes Were Sold
Over Asking
Summary: A total of 14 homes were sold or pending in Norwood in May 2024, up by 16.7% month-over-month. Of the 14 sold homes, 7% were sold under asking, 7% were sold at asking, and 86% were sold over asking.
Days on Market for Norwood, MA
How long does it take to sell a home in Norwood, MA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
22 Days | 14 Days | -37.6% |
Summary: Homes in Norwood had an average of 14 days on market in May 2024, down by 37.6% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 14 homes were sold in Norwood; 93% of homes were sold within 30 days, 7% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.