From January through November 2013, the price of a single-family home in Norwell, Massachusetts increased compared to the same period in 2012, but condominium prices declined slightly, the Massachusetts Association of Realtors (MAR) reported last month.
The median price of a single-family home increased 11.8 percent to $570,200 compared to $510,000 during the same eleven months in 2012. For the month of November 2013, the median price increased to $479,000, a 22 percent increase from $392,500 in November 2012.
The number of single-family homes sold in Norwell, MA between January and November 2013 rose 21.1 percent to 132 sales, an increase from 109 sales during the same time period in 2012. There were seven homes sold in November 2013, a 16.7 percent increase from six homes sold in November 2012.
MAR data showed that Norwell saw a slight increase in single-family home inventory in November 2013. The number of single-family homes on the market rose by 7.9 percent.
The median price for a condominium in Norwell slightly decreased between January and November 2013. The median price of a condominium decreased to $450,000, down 0.3 percent from $451,250 during the same eleven months in 2012. For the month of November, the median price decreased by 12.4 percent to $467,500, a drop from $533,550 in November 2012.
The number of condominiums sold in Norwell, MA between January and November 2013 increased 62.5 percent to 13 sales, up from just eight sales during the same time period in 2012. November sales were flat, with two condominiums sold in both 2012 and 2013.
In November 2013, the number of condominiums on the market dropped by 37.5 percent.