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Homes in Norfolk County sold for lower prices recently: See how much here
Homes in Norfolk County sold for lower prices recently: See how much here
Homes in Norfolk County sold for lower prices recently: See how much here

Published on: 05/23/2024

Description

Newly released data from Realtor.com for February shows that potential buyers and sellers in Norfolk County saw houses sell for lower than the previous month's median sales price of $650,000.

The median home sold for $615,000, an analysis of data from Realtor.com shows. That means February, the most recent month for which figures are available, was down 5.4% from January.

Compared to February 2023, the median home sales price was up 4.2% at $615,000 compared to $590,000.

Realtor.com sources sales data from real estate deeds, resulting in a few months' delay in up-to-date data. The statistics don't include homes currently listed for sale, and aren't directly comparable to listings data.

Information on your local housing market, along with other useful community data, is available at data.patriotledger.com.

Looking only at single-family homes, the $660,000 median selling price in Norfolk County was down 5.7% in February from $699,950 the month prior. Since February 2023, the sales price of single-family homes was up 10% from a median of $600,000.

Fifty-two single family homes sold for $1 million or more during the month, compared to 176 recorded transactions of at least $1 million in February 2023.

Condominiums and townhomes decreased by 2% in sales price during February to a median of $490,000 from $500,000 in January. Compared to February 2023, the sales price of condominiums and townhomes was down 10.9% from $550,000. Nine​ condominiums or townhomes sold for $1 million or more during the month, compared to 40 recorded transactions of at least $1 million in February 2023.

In February, the number of recorded sales in Norfolk County dropped by 72.7% since February 2023 from 1,192 to 326. All residential home sales totaled to $262 million.

In Massachusetts, homes sold at a median of $525,000 during February, down 2.2% from $536,714 in January. There were 3,350 recorded sales across the state during February, down 60.6% from 8,499 recorded sales in February 2023. 

The total value of recorded residential home sales in Massachusetts increased by 97.5% from $2.5 billion in January to $5 billion this February. 

Out of all residential home sales in Massachusetts, 14.69% of homes sold for at least $1 million in February, up from 9.13% in February 2023.

Sales prices of single-family homes across Massachusetts decreased by 2.6% from a median of $550,000 in January to $535,652 in February. Since February 2023, the sales price of single-family homes across the state was up 13.1% from $473,833. 

Across the state, the sales price of condominiums and townhomes rose 0.9% from a median of $495,500 in January to $500,000 during February. The median sales price of condominiums and townhomes is up 15.8% from the median of $431,750 in February 2023. 

The median home sales price used in this report represents the midway point of all the houses or units listed over the given period of time. The median offers a more accurate view of what's happening in a market than the average sales price, which would mean taking the sum of all sales prices then dividing by the number of homes sold. The average can be skewed by one particularly low or high sale.

The USA TODAY Network is publishing localized versions of this story on its news sites across the country, generated with data from Realtor.com. Please leave any feedback or corrections for this story here. This story was written by Ozge Terzioglu.

News Source : https://www.patriotledger.com/story/news/local/2024/05/22/homes-in-norfolk-county-sold-for-less-in-february-than-january/73771750007/

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