Is Downey-Norwalk, CA a buyer’s or seller’s market?

Housing Market Conditions



Gauge showing Downey-Norwalk is a seller's market


Difference Since January 2023

Since last year, Downey-Norwalk has remained a Seller's Market.

Key Takeaway

Downey-Norwalk is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Downey-Norwalk, CA

How much do homes in Downey-Norwalk, CA cost?

Median Sold Price



Based on all homes sold in the last 12 months.

Difference Since January 2023


Key Takeaway

Homes in Downey-Norwalk have sold for 1.4% more than they did a year ago.

Summary: The median home sold price in Downey-Norwalk was $740,162 in January 2024, up 1.4% from last year, and the median price per square foot was $543.

Median Sold Price By Bedroom Count

# BEDSJan 2023Jan 2024CHANGE
1 $392.5K$424K
2 $585K$600K
3 $735K$749.9K
4 $900K$920K
5+ $1.1M$1.1M

Summary: Downey-Norwalk housing prices by bedroom type for January 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8%, 2 bedroom homes increased by 2.6%, 3 bedroom homes increased by 2%, 4 bedroom homes increased by 2.2%, and 5+ bedroom homes increased by 5.9%.

Median Sold Price Compared To Nearby Cities


Housing Supply in Downey-Norwalk, CA

How many homes are available in Downey-Norwalk, CA?

Number of Homes For Sale

Dec 2023Jan 2024CHANGE

Summary: The Downey-Norwalk real estate market had 297 homes for sale in January 2024, a 2.6% decrease compared to December 2023.

Homes For Sale By Bedroom Count

# BEDSDec 2023Jan 2024CHANGE
1 1211
2 5559
3 141138
4 7166
5+ 2623

Summary: The Downey-Norwalk housing inventory by bedroom type for January 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 8.3%, 2 bedroom homes increased by 7.3%, 3 bedroom homes decreased by 2.1%, 4 bedroom homes decreased by 7%, and 5+ bedroom homes decreased by 11.5%.

Number of Homes Sold

Dec 2023Jan 2024CHANGE

Asking Price vs. Sold Price

25 Homes Were Sold
Under Asking

9 Homes Were Sold
At Asking

45 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Downey-Norwalk, you could pay more than the asking price. 57% of homes here sold above asking price last month.

Summary: A total of 79 homes were sold or pending in Downey-Norwalk in January 2024, down by 20.2% month-over-month. Of the 79 sold homes, 32% were sold under asking, 11% were sold at asking, and 57% were sold over asking.

Days on Market for Downey-Norwalk, CA

How long does it take to sell a home in Downey-Norwalk, CA?

Average Sale Time

Jan 2023Jan 2024CHANGE
39 Days29 Days-26.1%

Summary: Homes in Downey-Norwalk had an average of 29 days on market in Jan 2024, down by 26.1% compared to last year.

Breakdown of Home Sale Times

53 Homes Were Sold
Under 30 Days

22 Homes Were Sold
In 30 - 90 Days

4 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Downey-Norwalk are selling fast, if you're buying plan to act quickly.

Summary: During January 2024, 79 homes were sold in Downey-Norwalk; 67% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 20 Days Ago

Newest Listings in Downey-Norwalk, CA

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