Is Norco, 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, Norco has remained a Seller's Market.
Housing Prices in Norco, CA
How much do homes in Norco, CA cost?
Median Sold Price
$882,500
$446/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Summary: The median home sold price in Norco was $882,500 in June 2024, up 10.3% from last year, and the median price per square foot was $446.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $465K | - | N/A |
2 Bedrooms | $607K | $630K | +3.8% |
3 Bedrooms | $765K | $780K | +2.0% |
4 Bedrooms | $825K | $1.0M | +21.2% |
5+ Bedrooms | $1.1M | $1.1M | -1.1% |
Summary: Norco housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 3.8%, 3 bedroom homes increased by 2%, 4 bedroom homes increased by 21.2%, and 5+ bedroom homes decreased by 1.1%.
Housing Supply in Norco, CA
How many homes are available in Norco, CA?
Number of Homes For Sale
May 2024 | Jun 2024 | CHANGE |
---|---|---|
65 | 73 | +12.3% |
Summary: The Norco real estate market had 73 homes for sale in June 2024, a 12.3% increase compared to May 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 4 | 5 | +25.0% |
3 Bedrooms | 24 | 26 | +8.3% |
4 Bedrooms | 21 | 23 | +9.5% |
5+ Bedrooms | 15 | 18 | +20.0% |
Summary: The Norco housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 25%, 3 bedroom homes increased by 8.3%, 4 bedroom homes increased by 9.5%, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
May 2024 | Jun 2024 | CHANGE |
---|---|---|
16 | 21 | +31.3% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Summary: A total of 21 homes were sold or pending in Norco in June 2024, up by 31.3% month-over-month. Of the 21 sold homes, 29% were sold under asking, 10% were sold at asking, and 62% 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
Jun 2023 | Jun 2024 | CHANGE |
---|---|---|
31 Days | 8 Days | -72.1% |
Summary: Homes in Norco had an average of 8 days on market in Jun 2024, down by 72.1% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During June 2024, 21 homes were sold in Norco; 90% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.