Norwood, NJ 07648 Real Estate Market Report

Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

Market Metrics

The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

Rental Market

Property Taxes

Liquidity & Velocity

Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.

Market Trends & Context

Key Findings

1. The neighborhood's primary market signal is the median sold price of $763,000, which represents the most reliable indicator of recent transaction values and should be the focal point for pricing decisions; given the market temperature is hot, sellers can reasonably expect continued demand around this level.
2. The median listing price is $989,900, creating a visible spread versus the median sold price that may indicate pricing friction or seller ambition; this gap suggests careful listing strategy is warranted to align expectations with realized sale prices.
3. Liquidity appears muted on velocity metrics despite a hot market: the median days on market is 322, which signals slower sales velocity and may mean listings require longer exposure to transact even as overall price trends are up.
4. Inventory conditions in the analyzed sample point to relatively constrained active supply, which, when combined with moderate interest rate pressure and rising rents (median market rent $4,200, rent year-over-year trend up), supports a cautious seller advantage—buyers should expect competition but also exercise patience on pricing and contract terms.

Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.