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Is Norwood, CO 81423 a buyer’s or seller’s market?

Buyer’s market 3 months ending August 31, 2026 · Source: Redfin

Norwood is a buyer’s market. With about 7.5 months of supply, buyers usually have more time and more room to negotiate on price and terms.

Months of supply7.5Under 4 months = seller’s market
Sold above original list0%Share of sales, last 3 months
Median sale-to-list93.8%Sold price ÷ list price
Median days on market136Listing to accepted offer
Median price per sq ft$292▼ −6.4% vs. last year

The Norwood housing market right now

In the three months ending August 31, 2026, 0% of homes in Norwood, CO 81423 sold above their list price, the typical home went under contract in 136 days and there were 7.5 months of supply. More than six months of supply favors buyers, who usually have more time and more room to negotiate. With only 3 sales, these figures can swing a lot from month to month.

Compared with the same period a year earlier, the share selling over asking was about the same (0% then), homes sold more slowly (48 days then) and the median sale price fell 50% to $389,831. Overall, Norwood is less competitive than a year ago, which gives buyers more room.

Run the numbers for 81423

Prefilled for 81423Can I win this house?Multiple-offer likelihood for a listing Prefilled for 81423Over-asking calculatorTypical range over list ToolOffer strength scoreHow your offer looks to a seller ToolAppraisal gapCash needed if it appraises low

Nearby markets

Ophir 81426Seller’s market $635 /sq ftPlacerville 81430 — /sq ftRedvale 81431 — /sq ftTelluride 81435Buyer’s market $1,306 /sq ft Browse all markets →

Towns like Norwood nearby

Find towns like Norwood in other states →
Olathe, CO81425 · 37 miles away64% similarcheaper homes ($82K less) · larger Montrose, CO81403 · 26 miles away59% similarpricier homes ($90K more) · larger Montrose, CO81401 · 33 miles away49% similarcheaper homes ($51K less) · larger Ridgway, CO81432 · 29 miles away42% similarhigher income ($29K more) · pricier homes ($411K more)

Where Norwood is

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Questions about Norwood real estate

Is Norwood a buyer’s or seller’s market?

A buyer’s market: there were 7.5 months of supply in Norwood, CO 81423 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.

How fast do homes sell in Norwood?

The typical home went under contract in 136 days in the latest three months.

Do homes in Norwood sell over asking?

0% of homes sold above their original list price, and the typical sale closed at 93.8% of the list price.

What are property taxes in Norwood?

About 0.26% of a home’s value a year in San Miguel County, or roughly $1,040 on a $400,000 home.

What is the median home price in Norwood?

The median sale price was $389,831 in the three months ending August 31, 2026, about $292 per square foot.

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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology