During the 3rd quarter of 2018, real estate activity in Norwood saw large increases in both total sales volume and average sales price.
There was a 6% increase in the number of land documents recorded at the Norfolk County Registry of Deeds from the town of Norwood during the 3rd quarter 2018. 1,254 land documents were recorded versus 1,181 during the third quarter 2017.
The total volume of real estate sales in Norwood during the 3rd quarter 2018 was $89,561,944, a 92% increase from the same time period in 2017. Also, the average sale price of homes and commercial property increased 43% in Norwood. The average sale price was $716,495. These numbers were significantly impacted by the $23.5 million sale of the Guild Medical Building. This sale took place on 9/17/18.
The number of mortgages recorded (228) on Norwood properties during the 3rd quarter 2018 was down 5% from the previous year. However, total mortgage indebtedness increased 51% to $124,664,547.
There was 1 foreclosure deed filed against a Norwood property during the 3rd quarter 2018 compared to 3 foreclosure deeds filed during the 3rd quarter 2017.
Finally, homestead activity increased 28% in Norwood during the 3rd quarter 2018 with 138 homesteads filed compared to 108 during the same time period in 2017.