During the 2nd quarter of 2018, real estate activity in Norwood saw large increases in both total sales volume and average sales price.
There was a 4% decrease in the number of land documents recorded at the Norfolk County Registry of Deeds from the town of Norwood during the 2nd quarter 2018. 1,113 land documents were recorded versus 1,156 during the second quarter 2017.
The total volume of real estate sales in Norwood during the 2nd quarter 2018 was $382,729,177, a 39% increase from the same time period in 2017. Also, the average sale price of homes and commercial property increased 26% in Norwood. The average sale price was $3,357,273. These numbers were significantly impacted by a $177 million sale of medical building property in multiple towns including Norwood. This sale took place on 6/28/18.
The number of mortgages recorded (226) on Norwood properties during the 2nd quarter 2018 was down 12% from the previous year. Also, total mortgage indebtedness decreased 70% to $130,521,414. The decrease in mortgage indebtedness was impacted by a $160 million mortgage that was recorded against an apartment complex located in Norwood and Walpole on 4/24/17.
There was 1 foreclosure deed filed against a Norwood property during the 2nd quarter 2018 compared to 2 foreclosure deeds filed during the 2nd quarter 2017.
Finally, homestead activity increased 5% in Norwood during the 2nd quarter 2018 with 120 homesteads filed compared to 114 during the same time period in 2017.