Newly released data from Realtor.com for March shows that potential buyers and sellers in Norfolk County saw lower home sale prices than the previous month’s median of $700,000.
The median home sold for $690,000, an analysis of data from Realtor.com shows. That means March, the most recent month for which figures are available, was down 1.4% from February.
Compared to March 2024, the median home sales price was up 2.2% compared to $675,000.
Realtor.com sources sales data from real estate deeds, resulting in a few months’ delay in the 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.
Here is a breakdown on median sale prices:
Looking only at single-family homes, the $median selling price in Norfolk County was $750,000 this March, the same as February. Since March 2024, the sales price of single-family homes was up 6.4% from a median of $705,000. Eighty-six single family homes sold for $1 million or more during the month, compared to 102 recorded transactions of at least $1 million in March 2024.
Condominiums and townhomes decreased by 2.2% in sales price during March to a median of $552,500 from $565,000 in February. Compared to March 2024, the sales price of condominiums and townhomes was slightly up from $550,000. Sixteen condominiums or townhomes sold for $1 million or more during the month, compared to 26 recorded transactions of at least $1 million in March 2024.
About recorded home sales in Norfolk County in Massachusetts
In March, the number of recorded sales in Norfolk County dropped by 16.4% since March 2024 — from 483 to 404. All residential home sales totaled $443.4 million.
Across Massachusetts, homes sold at a median of $604,302 during March, up 8.5% from $556,707 in February. There were 4,235 recorded sales across the state during March, down 2.4% from 4,337 recorded sales in March 2024.
Here’s a breakdown for the full state:
The total value of recorded residential home sales in Massachusetts increased by 36.3% from $2.7 billion in February to $3.7 billion this March.
Out of all residential home sales in Massachusetts, 21.46% of homes sold for at least $1 million in March, up from 17.04% in March 2024.
Sales prices of single-family homes across Massachusetts increased by 5.9% from a median of $575,750 in February to $610,000 in March. Since March 2024, the sales price of single-family homes across the state was up 4.4% from $584,311.
Across the state, the sales price of condominiums and townhomes rose 16% from a median of $504,500 in February to $585,000 during March. The median sales price of condominiums and townhomes is up 13.6% from the median of $515,000 in March 2024.
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. Our News Automation and AI team would like to hear from you. Take this survey and share your thoughts with us.
This article originally appeared on The Patriot Ledger: Average home in Norfolk County up 2.2% over March 2024