During the 1st quarter of 2016, real estate activity in Norwood saw dramatic increases in both total sales volume and average sales price.
There was a 2% increase in the number of land documents recorded at the Norfolk County Registry of Deeds from the town of Norwood during the 1st quarter 2016. 1,113 land documents were recorded versus 1,095 during the first quarter 2015.
The total volume of real estate sales in Norwood during the 1st quarter 2016 was $77,417,737, a significant 129% increase from the same time period in 2015. Also, the average sale price of homes and commercial property increased 99% in Norwood. The average sale price was $1,005,425. These numbers were impacted by a $32 million commercial real estate transaction that was recorded on 2/12/16.
The number of mortgages recorded (228) on Norwood properties during the 1st quarter 2016 was down 18% from the previous year. However, total mortgage indebtedness increased 645% to $625,884,843 during the same period. The indebtedness figure was impacted by a $479 million mortgage recorded against a Norwood healthcare facility on 2/16/16.
There were 0 foreclosure deeds filed against Norwood properties during 1st quarter 2016, the same number filed during the 1st quarter 2015.
Finally, homestead activity decreased 11% in Norwood during the 1st quarter 2016 with 82 homesteads filed compared to 92 during the same time period in 2015.