Norwell home sales report for July 2013

Managing Real Estate Broker with Brad MacKenzie

Norwell home sales report for July 2013

26 Tara Drive Norwell

27 single-family homes sold in Norwell in July

  • up from 19 in June

The average

SALES price was $746,000, up from $566,000 in June

LISTING price was $766,000, up from $580,000

ORIGINAL price was $780,000, up from $596,000

ASSESSMENT was $704,000, up from $535,000

Average = total prices / number of homes. The average is strongly influenced by the relative number of high-priced sales from one month to the next


The median

SALES price was $672,000, up from $569,000 in June

LISTING price was $700,000, up from $579,000

ORIGINAL price was $700,000, up from $579,000

ASSESSMENT was $607,000, up from $478,300

Median = the home halfway down the list

The average

  • number of days on market was 71, down from 81 in June
  • price paid per square foot was $241, unchanged from $241
  • home sold for about 95% of its original list price

There are 73 single-family homes on the market in Norwell today. At this brisk sales pace, that's 3 months of inventory, and only 14 new properties came on the market. With 27 sales in July, the inventory is decreasing rapidly.

Mortgage interest rates have moderated a bit and are trading in the 4 to 4 1/2 percent range.

In Norwell, the market is hot. Buyers are buying when the offering price is within 5% of the amount the buyers are willing to pay, and there's a shortage of new homes for sale.

Sellers can readily sell their home now as long as the price gives buyers a good value compared to similar homes already on the market.

Contact me to sell your home or to arrange a private showing of any home for sale in the Norwell area

View all the homes for sale in Norwell at Norwell Homes for sale

Numbers rounded to nearest thousand. The information contained in this Norwell home sales report for July 2013, was taken from MLS Data run on 08/03/2013 and represents all single-family sales in Norwell from 07/01/2013 to 07/31/2013. It is deemed reliable but cannot be guaranteed. If you, as a seller or as a buyer, are currently under a written contract to use another broker exclusively then please disregard this notice.  It is not our intention to solicit other real estate broker’s clients. We are happy to work with them and cooperate fully. ©2013 Coldwell Banker Real Estate LLC. Coldwell Banker is a registered trademark licensed to Coldwell Banker Real Estate LLC. An Equal Opportunity Employer. Equal Housing Opportunity. Owned and operated by NRT, LLC.

Comments (2)

David Saks
Memphis, TN
Broker / Industry Analyst

Thank you for sharing this great information. Hopes for your continued success.

Aug 03, 2013 09:51 PM
Brad MacKenzie
Brad MacKenzie - Duxbury, MA
Turning Houses into Homes on the South Shore

Thanks, David. Same to you!

Aug 04, 2013 12:33 AM