During 2014, real estate activity in Norfolk saw increases in total volume and average sales price.
There was a 29% decrease in documents recorded at the Norfolk County Registry of Deeds for Norfolk in 2014, resulting in a reduction of 901 documents from 3,098 to 2,197.
The total volume of real estate sales in Norfolk during 2014 was $106,451,069 which showed an 18% increase from 2013. The average sale price of homes and commercial property was up by 20% in Norfolk. The average sale was $519,273.
The number of mortgages recorded (461) on Norfolk properties in 2014 was down by 34% from the previous year. Total mortgage indebtedness actually increased by 1932% to $4,041,822,942 during the same period.
There were 5 foreclosure deeds filed in Norfolk during 2014, representing a 25% increase from the previous year when there was 4 foreclosure deeds filed.
Finally, homestead activity decreased by 11% in Norfolk during 2014 with 240 homesteads filed compared to 270 in 2013.