Norfolk County Single Family Homes Market Snapshot: Q1 2025 vs. Q1 2024
What changed, what stayed the same, and what it means for you
We just wrapped up the first quarter of 2025, and if you’re wondering how the local real estate market is performing, the numbers tell a clear story. Whether you’re buying, selling, or just keeping tabs on the market, here’s a side-by-side comparison of Q1 2025 versus Q1 2024 in Norfolk County—and what it means as we head into the spring season.
List-to-Sale Price Ratio: Sellers Still in the Driver’s Seat
This metric tells us how close homes are selling to their list price—and it continues to favor sellers.
- In Q1 2024, homes listed at $699,900 sold for $710,000
- In Q1 2025, homes listed at $750,000 sold for $779,000
That means the average sale-to-list ratio increased from 101.4% to 103.9%.
In plain terms, buyers are not only meeting asking prices, they’re continuing to go above them. If you’re thinking about selling, this shows strong buyer demand and a competitive market—especially for move-in-ready homes that show well and are priced correctly.
Days on Market: A Slight Slowdown, but Still Moving Fast
Homes are taking just a touch longer to go under agreement, but the market is still moving quickly.
- Median Days to Offer
- Q1 2024: 9 days
- Q1 2025: 10 days
- Median Days on Market
- Q1 2024: 21 days
- Q1 2025: 23 days
So yes, things slowed slightly, but homes are still getting scooped up within weeks—not months. This kind of pace is a strong indicator that serious buyers are out there and ready to act.
Price Trends: Value per Square Foot is Rising
Price increases weren’t just about higher listing numbers—buyers were paying more per square foot, too.
- Q1 2024: $710,000 median sale price, $387.88 per sq ft
- Q1 2025: $779,000 median sale price, $415.60 per sq ft
The average home size stayed consistent at just under 2,000 square feet, so the rising prices reflect a real jump in value, not just larger homes selling. Bottom line—buyers are competing for quality inventory, and sellers who present their homes well are reaping the rewards.
What This Means Heading Into Q2 2025
As we step into the spring market, conditions remain competitive. Inventory is slowly rising, but not fast enough to meet buyer demand. Interest rates have leveled off, and many buyers are adapting to the new normal and moving forward with confidence.
Here’s what you need to know:
- If you’re selling: It’s a strong time to list. Price strategically, market your home well, and you’re likely to attract serious, motivated buyers.
- If you’re buying: Preparation is key. Have your financing ready, understand your must-haves, and move quickly when you find the right fit.
Whether you’re downsizing, moving up, or just trying to make sense of this market, we’re here to help you navigate it all with clarity.
Want to know what your home is worth or what opportunities might be out there for you? Let’s talk.
