Is Downey-Norwalk, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
Since last year, Downey-Norwalk has remained a Seller's Market.
Housing Prices in Downey-Norwalk, CA
How much do homes in Downey-Norwalk, CA cost?
Median Sold Price
$760,000
$557/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Summary: The median home sold price in Downey-Norwalk was $760,000 in June 2024, up 6.2% from last year, and the median price per square foot was $557.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $392.5K | $412.5K | +5.1% |
2 Bedrooms | $570K | $621.6K | +9.1% |
3 Bedrooms | $720K | $765K | +6.3% |
4 Bedrooms | $868K | $950K | +9.4% |
5+ Bedrooms | $1.1M | $1.2M | +7.8% |
Summary: Downey-Norwalk housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.1%, 2 bedroom homes increased by 9.1%, 3 bedroom homes increased by 6.3%, 4 bedroom homes increased by 9.4%, and 5+ bedroom homes increased by 7.8%.
Median Sold Price Compared To Nearby Cities
Downey | $771.5K | $830K | +7.6% |
Bellflower | $700K | $750K | +7.1% |
Downey-Norwalk | $715.4K | $760K | +6.2% |
Norwalk | $669.3K | $710K | +6.1% |
Housing Supply in Downey-Norwalk, CA
How many homes are available in Downey-Norwalk, CA?
Number of Homes For Sale
May 2024 | Jun 2024 | CHANGE |
---|---|---|
380 | 386 | +1.6% |
Summary: The Downey-Norwalk real estate market had 386 homes for sale in June 2024, a 1.6% increase compared to May 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 10 | 11 | +10.0% |
2 Bedrooms | 85 | 76 | -10.6% |
3 Bedrooms | 166 | 171 | +3.0% |
4 Bedrooms | 83 | 91 | +9.6% |
5+ Bedrooms | 36 | 37 | +2.8% |
Summary: The Downey-Norwalk housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 10%, 2 bedroom homes decreased by 10.6%, 3 bedroom homes increased by 3%, 4 bedroom homes increased by 9.6%, and 5+ bedroom homes increased by 2.8%.
Number of Homes Sold
May 2024 | Jun 2024 | CHANGE |
---|---|---|
111 | 111 | 0.0% |
Asking Price vs. Sold Price
29 Homes Were Sold
Under Asking
12 Homes Were Sold
At Asking
70 Homes Were Sold
Over Asking
Summary: A total of 111 homes were sold or pending in Downey-Norwalk in June 2024, the same as the previous month. Of the 111 sold homes, 26% were sold under asking, 11% were sold at asking, and 63% 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
Jun 2023 | Jun 2024 | CHANGE |
---|---|---|
25 Days | 19 Days | -23.9% |
Summary: Homes in Downey-Norwalk had an average of 19 days on market in Jun 2024, down by 23.9% compared to last year.
Breakdown of Home Sale Times
89 Homes Were Sold
Under 30 Days
20 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During June 2024, 111 homes were sold in Downey-Norwalk; 80% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.