Norwood, NJ 07648 Real Estate Market Report

ZIP Code: 07648
Report Date: May 2026
Market Temperature: HOT
Scope: This ZIP code analysis focuses on single-family residential (SFR) properties. Metrics are calculated from recent sales and active listings within the past 90 days.

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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.

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Market Metrics

Note: 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.

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Rental Market

Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.

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Property Taxes

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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.

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Market Trends & Context

Understanding Market Temperature

A Hot market indicates strong buyer demand with limited inventory, typically characterized by rising prices, quick sales (low days on market), and inventory levels below historical averages.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in Norwood, NJ are 6.25% compared to 5.85% when typical loans in this area originated in early 2026.

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

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Key Findings

1. median sold price: $907,500 anchors current market value in Norwood and, given the hot market temperature and the fact that price year-over-year trend is up, signals continued seller pricing power in recent transactions.

2. median days on market: 302 suggests slower sales velocity despite elevated buyer interest; this, combined with a relatively constrained active supply in the analyzed sample, may indicate pricing friction where some listings take longer to reach contract.

3. median price per square foot: $414 alongside median market rent: $4,500 points to high per-unit valuation and robust rent levels; with rent year-over-year trend listed as up, rental market strength appears to be supporting property values.

4. Interest rate conditions show interest rate pressure as moderate, and the property rate comparison notes current 30-year fixed mortgage rates at 6.25% compared to 5.85% when typical loans originated earlier in 2026; this may temper buyer affordability and could slow transaction volume even as prices remain firm.

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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.

Norwood, NJ 07648 Real Estate Market Report

ZIP Code: 07648
Report Date: May 2026
Market Temperature: HOT
Scope: This ZIP code analysis focuses on condominium properties. Metrics are calculated from recent condo sales and active listings within the past 90 days.

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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.

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Market Metrics

Note: 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.

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Rental Market

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Property Taxes

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Liquidity & Velocity

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Market Trends & Context

Understanding Market Temperature

A Hot market indicates strong buyer demand with limited inventory, typically characterized by rising prices, quick sales (low days on market), and inventory levels below historical averages.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in Norwood, NJ are 6.25% compared to 5.85% when typical loans in this area originated in early 2026.

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

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Key Findings

1. median sold price: $671,500 is the primary indicator of current market value and recent transaction activity in Norwood, reflecting realized prices from analyzed sales and anchoring valuation for both single-family residential and condominium segments.

2. median days on market: 360 suggests slower sales velocity relative to typical hot markets and may indicate pricing friction or a longer negotiation timeframe even though the market shows strong price direction; exercise caution on timing when setting ask/offer strategies.

3. median price per square foot: $384 combined with a median market rent: $4,500 signals strong price and rent levels for the ZIP code, supporting valuation stability for owners and providing a high-rent context for investors; rental momentum is positive given concurrent rent trends.

4. Price and rent momentum are both reported up (price year-over-year trend: up; rent year-over-year trend: up) and the market temperature is hot, which together suggest sellers may retain leverage on pricing, though interest rate pressure is labeled moderate and the report notes: Current 30-year fixed mortgage rates in Norwood, NJ are 6.25% compared to 5.85% when typical loans in this area originated in early 2026, so financing costs should be factored into buyer demand and offer structuring.

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Notable Properties

The following 4 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.