Norwich Real Estate Statistics

Norwich real estate average sold price in the last 30 days (August 20 - September 18) was $1,072,500, which is $485,000 (45.2%) higher than the average price of $587,500 in the previous 30 day period (July 21 - August 19), and $613,167 (57.2%) up from the same period 1 year ago ($459,333). Norwich real estate prices over the last 30 days are also $537,800 (50.1%) higher than the average selling price of $534,700 over the past year.

Norwich average sold price for homes was $1,072,500 in the last 30 days (August 20 - September 18), which is $380,000 (35.4%) up from the average home price of $692,500 in the previous 30 day period (July 21 - August 19), and $613,167 (57.2%) higher than the same period 1 year ago ($459,333). In the last 30 days Norwich the average home price was $509,705 (47.5%) higher than the average selling price of $562,795 over the last 12 months.

Average selling price for Norwich real estate was $1,072,500 in the last 30 days (August 20 - September 18), which is collectively $25,050 (3.0%) higher than the average asking price of $823,544. This represents an increase of $33,490 (396.8%) compared to $8,440 (0.7%) Sold-Under-Asking price from the previous 30 day period (July 21 - August 19).

The maximum Sold Over/Under Asking ratio in Norwich during the last 12 months was recorded in June, 2024 with an average of $7,600 over the asking price, while the minimum occurring in May, 2024 with $51,599 below the asking price.

Sales to New Listings Ratio (SNLR) represents the number of sales in relation to new inventory listed over a period of time. SNLR for all property types in Norwich was 22.2% with 2 properties sold and 8 new properties listed in the past 30 days (August 20 - September 18). This represents a decrease from 62.5% recorded during the previous 30 day period (July 21 - August 19), and a decrease from 150.0% compared to the same period one year ago.

Over the the last year the highest SNLR in Norwich was 2,033.3% recorded in January and the lowest was in October at 0.0%. SNLR of under 40% generally represents the Buyers' Market, while 60% and above - the Sellers' Market, with 40% to 60% range signaling a balanced market.

The Average Days on the Market (DOM) for 2 properties that were successfully sold in Norwich in the last 30 days (August 20 - September 18) was 8 days, which is 34 days less than 42 days average in the previous 30 day period (July 21 - August 19) and 36 days shorter than during the same period a year ago (44 days).

There were 7 delisted properties in Norwich, those that got either Expired, Suspended or Terminated over the last 30 days (August 20 - September 18) with an average of 70 days on the market. This is 34 days shorter than the average of 104 days during the previous 30 day period (July 21 - August 19) and 42 days less compared to the same period last year average of 112 days on the market.

7 Norwich properties that didn't sell stayed on the market 775.0% longer than 2 that sucessfully sold over the last 30 days - 8 days when sold vs 70 days when delisted respectively.

Average Days on the Market in Norwich over the past 12 months for properties that have sold was 39.2 days, with 93.7 days for those properties that did not sell.

9 new properties were listed on the market in Norwich in the last 30 days (August 20 - September 18). During the same time 2 properties were sold and 7 listings were removed from the market (Expired, Suspended or Terminated), which represents an increase in total inventory by 0 properties (or 0.0%).

During the previous 30 day period (July 21 - August 19) there were 8 new properties listed, 5 sold and 3 properties that did not sell and were removed from the market.

Over the past year the busiest month for new listings was May with 10 new properties listed, the slowest - October with 1 new listings and a yearly average of 5 new listings per month.

There were a total of 9 homes listed during the last 30 days (August 20 - September 18), which is 100.0% of all properties listed in Norwich. This is a 80.0% increase compared with a previous 30 day period (July 21 - August 19) and 350.0% up from the same period a year ago. Over the past year an average of 4 homes are were listed per month.

There were a total of 2 homes sold during the last 30 days (August 20 - September 18), which is 100.0% of all properties sold in Norwich. This is a 33.3% decline compared with a previous 30 day period (July 21 - August 19) and 33.3% down from the same period a year ago. Over the past year an average of 11 homes are were sold per month.