Norton, MA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Norton Neighborhoods Since 2000




Norton, MA Real Estate Data


Norton Housing Market Information

With 19,468 people, 6,290 houses or apartments, and a median cost of homes of $362,774, real estate costs in Norton are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive Massachusetts communities.

Single-family detached homes are the single most common housing type in Norton, accounting for 66.47% of the town's housing units. Other types of housing that are prevalent in Norton include row houses and other attached homes ( 13.07%), large apartment complexes or high rise apartments ( 11.22%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.01%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Norton. Owner-occupied housing accounts for 73.19% of Norton's homes, and 58.41% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Norton built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Norton built between 1940-1969 ( 23.60%). A lesser amount of the housing stock also hails from between 2000 and later ( 13.22%). There's also some housing in Norton built before 1939 ( 9.69%).

Norton Home Appreciation Rates

Norton's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Norton during the period has been just -0.81%, which is lower than 70% of US communities.

Appreciation rates are so strong in Norton that despite a nationwide downturn in the housing market, Norton real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Norton appreciation rates continue to be some of the highest in America, at 6.46%, which is higher than appreciation rates in 79.69% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Norton. Norton appreciation rates in the latest quarter were at 2.07%, which equates to an annual appreciation rate of 8.54%.

Relative to Massachusetts, our data show that Norton's latest annual appreciation rate is higher than 80% of the other cities and towns in Massachusetts.

Average Home Values

 

Median Home Value:
$362,774

Norton, MA HOME PRICES

Value Range
> $1,175,000 0.8
$881,001 - $1,175,000 0.4
$588,001 - $881,000 7.6
$470,001 - $588,000 12.9
$353,001 - $470,000 30.7
$235,001 - $353,000 32.8
$117,001 - $235,000 10.3
$59,001 - $117,000 0.7
$0 - $59,000 3.7

Average for MA
Very High for Nation

Value Relative to Nation Value Relative to State
11.7292264449259 54.8076923076923

Number Of Homes And Apartments:
6,290

Rent & Ownership

 

Average Market Rent:
$1,460 / per month

Homeownership Rate

Homeownership
Owners 73.19
Renters 26.81
Vacant 4.74

Housing Market Details

 

Age of Homes

AGE OF Norton HOMES
2000 or Newer 13.2
1970 - 1999 53.5
1940 - 1969 23.6
1939 or Older 9.7

Types of Homes

TYPE OF Norton HOMES
Single-Family 66.5
Townhomes 13.1
Small Apt. Buildings 5.0
Apt. Complexes 11.2
Mobile Homes 4.2
Other 0.0

Home Size

SIZE OF Norton HOMES
No Bedroom 2.17
1 Bedroom 6.62
2 Bedrooms 29.49
3 Bedrooms 39.97
4 Bedrooms 18.45
5 or more bedrooms 3.32

Norton Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MA*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
50.55% 2.44% 5 6
* 10 is highest