$1,305 Closing Credit*
$109,900
990 SqFt
2 Beds
•1 Full Bath
#50160491, CRAIG RECLA, Listing Office: STEPHENS REAL ESTATE
Is Norway, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Norway has remained a Seller's Market.
Key Takeaway
Norway is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Norway, MI
How much do homes in Norway, MI cost?
Median Sold Price
$146,500
$122/sqft
Based on all homes sold in October 2024.
Difference Since Last Month
+$55,550(+61.1%)
Key Takeaway
Homes in Norway have sold for 61.1% more than they did a month ago.
Summary: The median home sold price in Norway was $146,500 in October 2024, up 61.1% from last month, and the median price per square foot was $122.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | $130K | N/A |
| 3 Bedrooms | $25K | $163K | +552.0% |
| 4 Bedrooms | $156.9K | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Norway housing prices by bedroom type for October 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 552%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Vulcan | $137.5K | $374.9K | +172.7% |
| Norway | $90.9K | $146.5K | +61.1% |
| Norway Township | $113.7K | $163K | +43.3% |
Housing Supply in Norway, MI
How many homes are available in Norway, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 11 | 11 | 0.0% |
Summary: The Norway real estate market had 11 homes for sale in October 2024, the same as September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 6 | 6 | 0.0% |
| 4 Bedrooms | 3 | 3 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Norway 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 remained the same, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 2 | 2 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Norway, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Norway in October 2024, the same as the previous month. Of the 2 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for Norway, MI
How long does it take to sell a home in Norway, MI?
Average Sale Time
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 30 Days | 39 Days | +27.9% |
Summary: Homes in Norway had an average of 39 days on market in Oct 2024, up by 27.9% compared to last month.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Norway are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 2 homes were sold in Norway; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS.