Is Norco, 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, Norco has remained a Seller's Market.
Housing Prices in Norco, CA
How much do homes in Norco, CA cost?
Median Sold Price
$865,000
$420/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Norco was $865,000 in March 2024, up 8.1% from last year, and the median price per square foot was $420.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $522.5K | - | N/A |
2 Bedrooms | $603K | $615K | +2.0% |
3 Bedrooms | $775K | $735K | -5.2% |
4 Bedrooms | $805K | $920K | +14.3% |
5+ Bedrooms | $1.2M | $1.1M | -7.9% |
Summary: Norco housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 2%, 3 bedroom homes decreased by 5.2%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes decreased by 7.9%.
Housing Supply in Norco, CA
How many homes are available in Norco, CA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
47 | 39 | -17.0% |
Summary: The Norco real estate market had 39 homes for sale in March 2024, a 17.0% decrease compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 3 | 2 | -33.3% |
3 Bedrooms | 17 | 10 | -41.2% |
4 Bedrooms | 18 | 17 | -5.6% |
5+ Bedrooms | 8 | 9 | +12.5% |
Summary: The Norco housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 33.3%, 3 bedroom homes decreased by 41.2%, 4 bedroom homes decreased by 5.6%, and 5+ bedroom homes increased by 12.5%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
11 | 12 | +9.1% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 12 homes were sold or pending in Norco in March 2024, up by 9.1% month-over-month. Of the 12 sold homes, 58% were sold under asking, 17% were sold at asking, and 25% were sold over asking.
Days on Market for Norco, CA
How long does it take to sell a home in Norco, CA?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
42 Days | 46 Days | +11.2% |
Summary: Homes in Norco had an average of 46 days on market in Mar 2024, up by 11.2% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During March 2024, 12 homes were sold in Norco; 50% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.