During the 2nd quarter of 2016, real estate activity in Norfolk saw increases in both total sales volume and average sales price.
There was a 5% decrease in the number of land documents recorded at the Norfolk County Registry of Deeds from the town of Norfolk during the 2nd quarter 2016. 672 land documents were recorded versus 707 during the second quarter 2015.
The total volume of real estate sales in Norfolk during the 2nd quarter 2016 was $31,878,707, a 13% increase from the same time period in 2015. The average sale price of homes and commercial property increased 7% in Norfolk. The average sale price was $522,601.
The number of mortgages recorded (164) on Norfolk properties during the 2nd quarter 2016 was down 7% from the previous year. Total mortgage indebtedness also decreased by 2% to $51,861,042 during the same period.
There were 0 foreclosure deed filed against Norfolk properties during 2nd quarter 2016, compared to 1 foreclosure deed filed during the 2nd quarter 2015.
Finally, homestead activity increased 18% in Norfolk during the 2nd quarter 2016 with 77 homesteads filed compared to 65 during the same time period in 2015.