Is Norwood, NJ 07648 a buyer’s or seller’s market?

The Norwood housing market right now

In the three months ending August 31, 2026, 48% of homes in Norwood, NJ 07648 sold above their list price, the typical home went under contract in 85 days and there were 4.1 months of supply. Four to six months of supply is a balanced market, where pricing and condition decide how much room there is to negotiate. That’s based on 22 home sales.

Compared with the same period a year earlier, the share selling over asking fell from 53%, homes sold more slowly (74 days then) and the median sale price fell 6% to $941,593. Overall, Norwood is less competitive than a year ago, which gives buyers more room.

Within Bergen County, homes here sell more slowly than in 89% of the county’s ZIP codes, and sell less often over asking than in 70%. On our competition score, Norwood ranks #362 of 444 NJ ZIP codes with enough sales (score 60 out of 100).

Nearby, buyers who want less competition could look at Alpine 07620 (0% sold over asking) or Moonachie 07074 (0% sold over asking), while South Hackensack 07606 (100% sold over asking) and Waldwick 07463 (86% sold over asking) are even more competitive.