Norwell Home Prices & Values

$523,800 Zillow Home Value Index What's This?  
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The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

  • 6.4% 1-year change
  • 0.6% 1-year forecast

The median home value in Norwell is $523,800. Norwell home values have gone up 6.4% over the past year and Zillow predicts they will rise 0.6% within the next year. The median list price per square foot in Norwell is $263, which is higher than the Boston Metro average of $224. The median price of homes currently listed in Norwell is $675,000 while the median price of homes that sold is $617,750. The median rent price in Norwell is $2,900, which is higher than the Boston Metro median of $2,300.

Foreclosures will be a factor impacting home values in the next several years. In Norwell 1.7 homes are foreclosed (per 10,000). This is lower than the national value of 4.3

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in Norwell is 3.7%, which is lower than the national value of 6.9%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of Norwell homeowners underwater on their mortgage is 6.0%, which is lower than Boston Metro at 10.6%.

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Relative ZHVI
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Norwell Market Overview

Data through Aug 31, 2014
  • $523,800 ZHVI
  • 0.6% 1-yr forecast What's This?  
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    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more

    (Aug 31, 2015)
  • $675,000 Median listing price
  • $617,750 Median sale price (Jul 31, 2014)
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Norwell Market Health

Data through Aug 31, 2014
  • 7.7/10 Very healthy What's This?  
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    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.

  • No data Average days on Zillow
  • 6.0% Homes with negative equity (17.0% US Avg) (Jun 30, 2014)
  • 3.7% Delinquent on mortgage (6.9% US Avg) (Jun 30, 2014)
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Nearby Cities

Name Median ZHVI Name Median ZHVI Name Median ZHVI
Cohasset $755,400 Town of Hingham $639,600 Town of Scituate $480,600
Hanover $418,800 Town of Marshfield $375,000 Pembroke $319,800
Town of Hanson $313,300 Weymouth $311,400 Rockland $249,000

Listings & Sales

Data through Aug 31, 2014
  • $263 Median list price / sq ft
  • $264 Median sale price / sq ft (Jul 31, 2014)
  • 57.8% Listings with price cut
4.2%
Sold below listing
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Norwell Rentals

Data through Aug 31, 2014
Zillow Rent Index What's This?
Close The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more
$2,351 Norwell
$2,116 Boston Metro
$1,328 United States
  • 3.6 Breakeven horizon What's This?  
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    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more

    (Jun 30, 2014)
  • No recent data Rent list price
  • No recent data Rent list price / sq ft
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