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orfolk County Register of Deeds William P. O'Donnell reported that real estate activity in Norfolk County increased in February 2025 compared to the same month last year, with a total of 6,870 documents recorded at the Registry of Deeds. This represents a 1% increase from February 2024 and a 12% decrease from January 2025.

    The number of deeds recorded for February 2025 was 1,035, up 8% from last year but down 10% from January 2025. Home listings in Norfolk County increased by 15% in February 2025 compared to the same month last year, according to the Federal Reserve Bank.

    Lending activity also increased in February, with a total of 983 mortgages recorded, up 7% from February 2024 but down 14% from January 2025. Mortgage interest rates remained relatively stable, ranging between 6.76% and 6.89% in February 2025, compared to 6.63-6.94% in February 2024.

    The average sale price of commercial and residential properties rose to $1,061,849 in February 2025, a 7% increase from last year but a 14% decrease from January 2025. The total dollar volume of sales also increased by 4% from last year but decreased by 30% from the previous month.

    Register O'Donnell noted that Norfolk County's real estate market has experienced sustained growth since mid-2024, driven by steady demand for both commercial and residential properties. However, he cautioned that limited property inventory remains a challenge, particularly for first-time buyers.

    The Registry of Deeds also reported seven foreclosure deeds recorded in February 2025, up from six the previous year, but fewer notices to foreclose than in February 2024. Register O'Donnell encouraged anyone struggling with mortgage payments to reach out to non-profit organizations listed on the Registry's website for assistance.

    As the traditional homebuying season approaches, Register O'Donnell expressed optimism about continued growth in the market, citing a healthy demand for property and stable interest rates.