Homes sold in Norwell - December 2013

Norwell, Massachusetts, has become a surging little market on the South Shore over the past year. December was better than a year ago, and all the numbers have been moving in the direction of sellers' advantage most of the year.

Many market watchers and professional participants expect a substantial number of homes to come on the market this spring but, for the time being, there aren't many available. With sales happening promptly and at higher prices (and higher prices per square foot), sellers are in a strong position. 

Buyers with a pre-approval in hand will be in a good position to act, if they act promptly, when a home they are interested in purchasing comes on the market.

13 single-family homes sold in Norwell in December

• up from 7 last month, and 10 last December
• the average number of sales in Norwell is 12 a month
• a list with details about each sale appears below

146 single-family homes sold in 2013

• up from 119 in 2012
• if you'd like a list of all the 2013 sales, please write me here

The current list of homes for sale in Norwell can be found at Norwell homes for sale

The AVERAGE

• SALE price was $680,000
  • up from $513,000 last month and $500,000 last December
    and up from the 12-month average of $640,000
    

• LISTING price was $699,000
  • up from $537,000 last month and $524,000 last December
    and up from the 12-month average of $664,000
    
    
• ORIGINAL price was $721,000
  • up from $574,000 last month and $537,000 last December
    and up from the 12-month average of $692,000
    
    
• AGE is 22 years (built in 1991)
  

Average = total prices / number of homes

The MEDIAN

• SALE price was $712,000
• LISTING price was $730,000
• ORIGINAL price was $800,000
• ASSESSMENT was $1,179,000

Median = the home halfway down the list

The average

• number of days on market was 73
  • down from 86 last month and 87 last December
    and down from the 12-month average of 103
    
    
• square footage was 3,065
  • up from 2,506 last month and 2,441 last December
    and up from the 12-month average of 2,830
    
    
• price paid per square foot was $230
  • up from $216 last month, and up from $208 last December
    and up from the 12-month average of $229
    
    
• home sold for about 94% of its original asking price and 97% of its last listing price
  • up from the 12-month average of 96% of the last listing price

49 single-family homes are on the market in Norwell today

• That's 4 months of inventory, which is low

3 new properties came on the market in December

• 1 home is under agreement

Mortgage interest rates are trading around 4 1/2%

• At 4.5%, the monthly payment per $100,000 of principal loan amount is $506
• At 5.0%, the payment would be $536
• At 5.5%, the payment would be $568
  • If interest rates rise 1.0% this year, 30-year mortgages will cost 12% more

I love Turning Houses into Homes by helping people like you sell and buy homes on the South Shore

Click on a town name to see all the homes for sale in
Duxbury, Cohasset, Hingham, Kingston, Marshfield, Norwell, Pembroke, Plymouth and Scituate

My business is built on referrals from clients and people like you. If you know of a friend, family member or colleague who is thinking of selling or buying a home, I'd love to help. Please call or write me to arrange an introduction. I will provide professional, courteous service and knowledgeable guidance.

Call or text (339) 832-8487 or write me to sell your home, or to see any home for sale on the South Shore

Stay in touch at Brad MacKenzie Homes and Luxury Homes on the South Shore

Numbers may be rounded. The information contained in this report, Homes sold in Norwell - December 2013, was taken from MLS Data run on 1/04/2014 and represents all single-family home sales in Norwell from 12/1/2013 to 12/31/2013 or the relevant period for the data shown. It is deemed reliable but cannot be guaranteed. 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.