During the 1st quarter of 2018, real estate activity in the town of Norfolk saw increases in both total sales volume and average sales price.
There was an 1% increase in the number of land documents recorded at the Norfolk County Registry of Deeds from the town of Norfolk during the 1st quarter 2018. 520 land documents were recorded versus 513 during the first quarter 2017.
The total volume of real estate sales in Norfolk during the 1st quarter 2018 was $19,971,383, a 47% increase from the same time period in 2017. Also, the average sale price of homes and commercial property increased 9% in Norfolk. The average sale price was $512,086.
The number of mortgages recorded (99) on Norfolk properties during the 1st quarter 2018 was down 1% from the previous year. Conversely, total mortgage indebtedness increased 1% to $30,956,824 during the same period.
There was 1 foreclosure deed filed against a Norfolk property during the 1st quarter 2018, the same number filed during the 1st quarter 2017.
Finally, homestead activity increased 51% in Norfolk during the 1st quarter 2018 with 62 homesteads filed compared to 41 during the same time period in 2017.