$5,046 Closing Credit*
$424,900
1,814 SqFt
3 Beds
•3 Full Baths, 1 Partial
#50163560, CARRIE TORETTA-PARTELLO, Listing Office: COLDWELL BANKER REAL ESTATE GROUP
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
Last month, Norway was a Neutral 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
$196,450
$147/sqft
Based on all homes sold in December 2024.
Difference Since Last Month
-$92,050(-31.9%)
Key Takeaway
Homes in Norway have sold for 31.9% less than they did a month ago.
Summary: The median home sold price in Norway was $196,450 in December 2024, down 31.9% from last month, and the median price per square foot was $147.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | $288.5K | $212.9K | -26.2% |
| 4 Bedrooms | - | $180K | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Norway housing prices by bedroom type for December 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 decreased by 26.2%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Norway Township | $212.5K | $196.4K | -7.6% |
| Norway | $288.5K | $196.4K | -31.9% |
| Vulcan | $243K | $110K | -54.7% |
Housing Supply in Norway, MI
How many homes are available in Norway, MI?
Number of Homes For Sale
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 13 | 14 | +7.7% |
Summary: The Norway real estate market had 14 homes for sale in December 2024, a 7.7% increase compared to November 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 8 | 8 | 0.0% |
| 4 Bedrooms | 3 | 3 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Norway housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 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
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 2 | 4 | +100.0% |
Asking Price vs. Sold Price
3 Homes Were 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. 75% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Norway in December 2024, up by 100.0% month-over-month. Of the 4 sold homes, 75% were sold under asking, 0% were sold at asking, and 25% 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
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 3 Days | 18 Days | +421.4% |
Summary: Homes in Norway had an average of 18 days on market in Dec 2024, up by 421.4% compared to last month.
Breakdown of Home Sale Times
3 Homes Were 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 December 2024, 4 homes were sold in Norway; 75% of homes were sold within 30 days, 25% 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.