Is Norco, CA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Norco is a seller's market

Buyer's
Market

Difference Since February 2023

Since last year, Norco has remained a Seller's Market.

Key Takeaway

Norco is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Norco, CA

How much do homes in Norco, CA cost?

Median Sold Price

$845,000

$417/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$26,250(+3.2%)

Key Takeaway

Homes in Norco have sold for 3.2% more than they did a year ago.

Summary: The median home sold price in Norco was $845,000 in February 2024, up 3.2% from last year, and the median price per square foot was $417.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $522.5K-
N/A
2 $597K$605K
+1.3%
3 $770K$735K
-4.5%
4 $849K$889K
+4.7%
5+ $1.2M$1.1M
-6.5%

Summary: Norco housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 1.3%, 3 bedroom homes decreased by 4.5%, 4 bedroom homes increased by 4.7%, and 5+ bedroom homes decreased by 6.5%.

Median Sold Price Compared To Nearby Cities

Riverside
+5.9%
Norco
+3.2%
Corona
+1.7%
Jurupa
-0.2%

Housing Supply in Norco, CA

How many homes are available in Norco, CA?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
4840-16.7%

Summary: The Norco real estate market had 40 homes for sale in February 2024, a 16.7% decrease compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 11
0.0%
2 43
-25.0%
3 1413
-7.1%
4 2315
-34.8%
5+ 68
+33.3%

Summary: The Norco housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 25%, 3 bedroom homes decreased by 7.1%, 4 bedroom homes decreased by 34.8%, and 5+ bedroom homes increased by 33.3%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
1211-8.3%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Norco, you may be able to get a good deal. 63.6% of homes here sold below asking price last month.

Summary: A total of 11 homes were sold or pending in Norco in February 2024, down by 8.3% month-over-month. Of the 11 sold homes, 64% were sold under asking, 0% were sold at asking, and 36% 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

Feb 2023Feb 2024CHANGE
55 Days65 Days+17.8%

Summary: Homes in Norco had an average of 65 days on market in Feb 2024, up by 17.8% compared to last year.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Norco are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 11 homes were sold in Norco; 45% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 27% 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 2 Days Ago

Newest Listings in Norco, CA

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