$1,413 Closing Credit*
$119,000
4,122 SqFt
7 Beds
•3 Full Baths
Stefan Marikovics, Listing Office: Keller Williams Upstate NY Properties
Is Norwich, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Norwich was a Buyer's Market.
Key Takeaway
Norwich is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Norwich, NY
How much do homes in Norwich, NY cost?
Median Sold Price
$162,500
$96/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$27,492(+20.4%)
Key Takeaway
Homes in Norwich have sold for 20.4% more than they did a year ago.
Summary: The median home sold price in Norwich was $162,500 in October 2024, up 20.4% from last year, and the median price per square foot was $96.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $63K | $151.2K | +140.1% |
| 2 Bedrooms | $129.9K | $79.5K | -38.8% |
| 3 Bedrooms | $135.4K | $152.5K | +12.6% |
| 4 Bedrooms | $152.5K | $190K | +24.6% |
| 5+ Bedrooms | $139K | $181.5K | +30.6% |
Summary: Norwich housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 140.1%, 2 bedroom homes decreased by 38.8%, 3 bedroom homes increased by 12.6%, 4 bedroom homes increased by 24.6%, and 5+ bedroom homes increased by 30.6%.
Housing Supply in Norwich, NY
How many homes are available in Norwich, NY?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 67 | 64 | -4.5% |
Summary: The Norwich real estate market had 64 homes for sale in October 2024, a 4.5% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 4 | +100.0% |
| 2 Bedrooms | 7 | 8 | +14.3% |
| 3 Bedrooms | 33 | 28 | -15.2% |
| 4 Bedrooms | 19 | 19 | 0.0% |
| 5+ Bedrooms | 6 | 5 | -16.7% |
Summary: The Norwich housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 14.3%, 3 bedroom homes decreased by 15.2%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 16.7%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 6 | 10 | +66.7% |
Asking Price vs. Sold Price
9 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 Norwich, you may be able to get a good deal. 90% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in Norwich in October 2024, up by 66.7% month-over-month. Of the 10 sold homes, 90% were sold under asking, 0% were sold at asking, and 10% were sold over asking.
Days on Market for Norwich, NY
How long does it take to sell a home in Norwich, NY?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 14 Days | 57 Days | +308.6% |
Summary: Homes in Norwich had an average of 57 days on market in Oct 2024, up by 308.6% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Norwich has remained consistent over time.
Summary: During October 2024, 10 homes were sold in Norwich; 30% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 30% of homes were sold over 90 days.
Listings courtesy of OneKey MLS as distributed by MLS GRID.
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the OneKey™ MLS. Real Estate listings held by brokerage firms other than this broker are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers. This information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.