Is Downey-Norwalk, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 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
$750,000
$547/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Downey-Norwalk was $750,000 in March 2024, up 3.4% from last year, and the median price per square foot was $547.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $380K | $415K | +9.2% |
2 Bedrooms | $589.5K | $615K | +4.3% |
3 Bedrooms | $730K | $755K | +3.4% |
4 Bedrooms | $890K | $932.5K | +4.8% |
5+ Bedrooms | $1.1M | $1.2M | +8.5% |
Summary: Downey-Norwalk housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.2%, 2 bedroom homes increased by 4.3%, 3 bedroom homes increased by 3.4%, 4 bedroom homes increased by 4.8%, and 5+ bedroom homes increased by 8.5%.
Median Sold Price Compared To Nearby Cities
Bellflower | $715.5K | $748.5K | +4.6% |
Downey | $780K | $810K | +3.8% |
Downey-Norwalk | $725K | $750K | +3.4% |
Norwalk | $675K | $695K | +3.0% |
Housing Supply in Downey-Norwalk, CA
How many homes are available in Downey-Norwalk, CA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
321 | 318 | -0.9% |
Summary: The Downey-Norwalk real estate market had 318 homes for sale in March 2024, a 0.9% decrease compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 8 | 10 | +25.0% |
2 Bedrooms | 64 | 57 | -10.9% |
3 Bedrooms | 145 | 146 | +0.7% |
4 Bedrooms | 78 | 76 | -2.6% |
5+ Bedrooms | 26 | 29 | +11.5% |
Summary: The Downey-Norwalk housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 25%, 2 bedroom homes decreased by 10.9%, 3 bedroom homes increased by 0.7%, 4 bedroom homes decreased by 2.6%, and 5+ bedroom homes increased by 11.5%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
99 | 93 | -6.1% |
Asking Price vs. Sold Price
22 Homes Were Sold
Under Asking
20 Homes Were Sold
At Asking
51 Homes Were Sold
Over Asking
Summary: A total of 93 homes were sold or pending in Downey-Norwalk in March 2024, down by 6.1% month-over-month. Of the 93 sold homes, 24% were sold under asking, 22% were sold at asking, and 55% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
28 Days | 22 Days | -21.5% |
Summary: Homes in Downey-Norwalk had an average of 22 days on market in Mar 2024, down by 21.5% compared to last year.
Breakdown of Home Sale Times
75 Homes Were Sold
Under 30 Days
12 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Summary: During March 2024, 93 homes were sold in Downey-Norwalk; 81% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.