During the 2nd quarter of 2017, real estate activity in Norwood saw significant increases in both total sales volume and average sales price.
There was a 14% decrease in the number of land documents recorded at the Norfolk County Registry of Deeds from the town of Norwood during the 2nd quarter 2017. 1,155 land documents were recorded versus 1,349 during the second quarter 2016.
The total volume of real estate sales in Norwood during the 2nd quarter 2017 was $276,278,358 a 175% increase from the same time period in 2016. Also, the average sale price of homes and commercial property increased 241% in Norwood. The average sale price was $2,656,522. All these numbers were significantly impacted by the $199 million sale of Windsor Gardens that took place on 4/24/17.
The number of mortgages recorded (257) on Norwood properties during the 2nd quarter 2017 was down 14% from the previous year. However, total mortgage indebtedness increased 240% to $433,215,986 during the same period. This number was impacted by a $160 million mortgage taken out against the Windsor Gardens property on 4/24/17 and an $87 million mortgage taken out against Norwood property adjacent to Rt.1.
There were 2 foreclosure deeds filed against Norwood properties during the 2nd quarter 2017 compared to 3 filings during the 2nd quarter 2016.
Finally, homestead activity decreased 12% in Norwood during the 2nd quarter 2017 with 114 homesteads filed compared to 129 during the same time period in 2016.