$28,000
0.40 Acres
Land
Mary Kay Flanagan, RSPS, ePRO, Listing Office: Howard Hanna
Is Norwich, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Norwich was a Seller'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
$159,900
$96/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$22,400(+16.3%)
Key Takeaway
Homes in Norwich have sold for 16.3% more than they did a year ago.
Summary: The median home sold price in Norwich was $159,900 in November 2024, up 16.3% from last year, and the median price per square foot was $96.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $72.7K | $220K | +202.4% |
| 2 Bedrooms | $105K | $84.7K | -19.3% |
| 3 Bedrooms | $140K | $150K | +7.1% |
| 4 Bedrooms | $162K | $190K | +17.3% |
| 5+ Bedrooms | $140.5K | $181.5K | +29.2% |
Summary: Norwich housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 202.4%, 2 bedroom homes decreased by 19.3%, 3 bedroom homes increased by 7.1%, 4 bedroom homes increased by 17.3%, and 5+ bedroom homes increased by 29.2%.
Housing Supply in Norwich, NY
How many homes are available in Norwich, NY?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 63 | 51 | -19.0% |
Summary: The Norwich real estate market had 51 homes for sale in November 2024, a 19.0% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 3 | 0.0% |
| 2 Bedrooms | 6 | 3 | -50.0% |
| 3 Bedrooms | 32 | 25 | -21.9% |
| 4 Bedrooms | 17 | 12 | -29.4% |
| 5+ Bedrooms | 5 | 8 | +60.0% |
Summary: The Norwich housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 50%, 3 bedroom homes decreased by 21.9%, 4 bedroom homes decreased by 29.4%, and 5+ bedroom homes increased by 60%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 10 | 8 | -20.0% |
Asking Price vs. Sold Price
7 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. 87.5% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in Norwich in November 2024, down by 20.0% month-over-month. Of the 8 sold homes, 88% were sold under asking, 0% were sold at asking, and 13% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 24 Days | 17 Days | -30.7% |
Summary: Homes in Norwich had an average of 17 days on market in Nov 2024, down by 30.7% compared to last year.
Breakdown of Home Sale Times
7 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 Norwich are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 8 homes were sold in Norwich; 88% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 0% 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.