During the 1st quarter of 2019, real estate activity in the town of Norfolk saw decreases in both total sales volume and average sales price.
There was a 23% decrease in the number of land documents recorded at the Norfolk County Registry of Deeds from the town of Norfolk during the 1st quarter 2019. 398 land documents were recorded versus 520 during the first quarter 2018.
The total volume of real estate sales in Norfolk during the 1st quarter 2019 was $14,060,419, a 30% decrease from the same time period in 2018. Also, the average sale price of homes and commercial property decreased 11% in Norfolk. The average sale price was $453,561.
The number of mortgages recorded (83) on Norfolk properties during the 1st quarter 2019 was down 16% from the previous year. Also, total mortgage indebtedness decreased 25% to $23,112,951 during the same period.
There was 1 foreclosure deed filed against a town of Norfolk property during the 1st quarter 2019, the same number filed during the 1st quarter 2018.
Finally, homestead activity decreased 27% in Norfolk during the 1st quarter 2019 with 45 homesteads filed compared to 62 during the same time period in 2018.