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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Downey-Norwalk is a seller's market

Buyer'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

$740,162

$543/sqft

Based on all homes sold in the last 12 months.

Difference Since January 2023

+$9,981(+1.4%)

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
+8.0%
2 $585K$600K
+2.6%
3 $735K$749.9K
+2.0%
4 $900K$920K
+2.2%
5+ $1.1M$1.1M
+5.9%

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

Bellflower
+2.6%
Downey
+1.5%
Downey-Norwalk
+1.4%
Norwalk
-0.6%

Housing Supply in Downey-Norwalk, CA

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

Number of Homes For Sale

Dec 2023Jan 2024CHANGE
305297-2.6%

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
-8.3%
2 5559
+7.3%
3 141138
-2.1%
4 7166
-7.0%
5+ 2623
-11.5%

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
9979-20.2%

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

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