Norfolk county real estate market shows strong start with year-over-year growth

Norfolk County Register of Deeds William P. O’Donnell reported that Norfolk County recordings for the month of January 2025 indicate an increase in overall real estate activity compared to last year, including increases in both the total number of deeds and mortgages recorded.

The Registry of Deeds recorded 7,807 documents in January 2025. This was 4% more than in January 2024, but an 11% decrease compared to December 2024.

“January is typically a slower month for real estate activity compared to December. However, the key statistic to focus on is the year-over-year increase in activity,” stated Norfolk County Register of Deeds William P. O’Donnell. “When comparing the total number of recorded documents from January 2024 to January 2025, there is a notable 4% increase. This marks a promising start to the year relative to how last year started.”

The total number of deeds recorded for January 2025, which reflects both commercial and residential real estate sales and transfers, was 1,152, up 2% from January 2024, but down 16% from December 2024. This January, 508 commercial and residential properties sold during the month, up 5% compared to January 2024.

“The real estate market is showing encouraging signs as we begin 2025. This January, both commercial and residential sales and transfers demonstrated growth compared to the previous year,” noted Register O’Donnell. “Despite a typical seasonal dip from December, the real estate market is performing decently, particularly in certain neighborhoods and property types in area communities.”

The average sale price of commercial and residential properties for January 2025 rose to $1,267,251, a 25% increase compared to January 2024, but a decrease of 28% from December 2024. The total dollar volume of commercial and residential sales is also up, increasing by 32% from last year but down 46% from the previous month.

“Norfolk County is undeniably a sought-after location for both living and working, thanks to the vibrant communities and the dedicated efforts of municipal staff and leaders,” remarked Register O’Donnell. “However, with the limited property inventory unable to meet high demand, many would agree that the market poses challenges for buyers, particularly those purchasing their first home.”

In January, lending activity increased compared to the same month a year ago. A total of 1,141 mortgages were recorded in January 2025, up 19% from January 2024, but down 16% from December 2024. According to The Federal Home Loan Mortgage Corporation, average mortgage interest rate in January 2024 were between 6.62% and 6.69%, while in January 2025, they were between 6.91% and 7.04%.

“Despite a rise in average mortgage interest rates compared to January 2023, mortgage activity saw a notable increase this January compared to the same time last year,” noted Register O’Donnell. “The uptick in both property sales and mortgage recordings may suggest that potential homebuyers are more willing to enter the market, even with higher mortgage interest rates than in previous years.”

The Norfolk County Registry of Deeds has been closely monitoring the foreclosure market. In January 2025, there were 4 foreclosure deeds recorded as a result of mortgage foreclosures taking place in Norfolk County, less than the 11 recorded in January 2024. Also, in January 2025, there were 20 notices to foreclose, the first step in the foreclosure process, less than the 36 recorded in January 2024.

“There is no question that this reduction in the number foreclosures and notices to foreclose is good news. With that said, we cannot forget that foreclosure activity has a human face associated with it, and there are still a number of our neighbors who have lost their homes, and even more are dangerously close to losing their homes,” said Register O’Donnell. “I would urge anyone struggling to pay their mortgage or who knows someone who is struggling to contact one of the non-profit organizations listed on our website, www.norfolkdeeds.org.”

For the past several years, the Norfolk County Registry of Deeds has partnered with Quincy Community Action Programs (617-479-8181 x376) and NeighborWorks Housing Solutions (508-587-0950) to help anyone facing challenges paying their mortgage. Another option for homeowners is to contact the Massachusetts Attorney General’s Consumer Advocacy and Response Division (CARD) at 617-727-8400.

Register O’Donnell concluded, “The real estate market in Norfolk County is off to a decent start in 2025, with increases in both property sales and mortgage activity compared to the previous year. The year-over-year growth highlights the attractiveness and vibrant nature of our neighborhoods. This positive trend is encouraging for the future of our local real estate market. We look forward to continued growth and prosperity in the months ahead.”

To learn more about these and other Registry of Deeds events and initiatives, “like” us on Facebook at facebook.com/norfolkdeeds. Follow us on Twitter and Instagram at @norfolkdeeds.

The Norfolk County Registry of Deeds, located at 649 High St., Dedham, is the principal office for real property in Norfolk County. The Registry is a resource for homeowners, title examiners, mortgage lenders, municipalities, and others with a need for secure, accurate, and accessible land record information. All land record research information can be found on the Registry’s website, www.norfolkdeeds.org. Residents in need of assistance can contact the Registry of Deeds Customer Service Center at (781) 461-6101 or email us at [email protected].