Is Norma Triangle, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Norma Triangle was a Seller's Market.
Key Takeaway
Norma Triangle is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Norma Triangle, CA
How much do homes in Norma Triangle, CA cost?
Median Sold Price
$975,000
$843/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Norma Triangle have sold for 11.4% less than they did a year ago.
Summary: The median home sold price in Norma Triangle was $975,000 in May 2024, down 11.4% from last year, and the median price per square foot was $843.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $708.5K | $675K | -4.7% |
| 2 Bedrooms | $1.2M | $1.0M | -16.1% |
| 3 Bedrooms | $2.1M | $1.7M | -18.5% |
| 4 Bedrooms | $1.4M | - | N/A |
| 5+ Bedrooms | $4.0M | $2.7M | -31.2% |
Summary: Norma Triangle housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 4.7%, 2 bedroom homes decreased by 16.1%, 3 bedroom homes decreased by 18.5%, 4 bedroom homes did not change, and 5+ bedroom homes decreased by 31.2%.
Median Sold Price Compared To Nearby Neighborhoods
| West Hollywood Heights | $965K | $1.2M | +25.8% |
| Center City | $869.4K | $890K | +2.4% |
| Central LA | $1.3M | $1.3M | -0.9% |
| Norma Triangle | $1.1M | $975K | -11.4% |
Housing Supply in Norma Triangle, CA
How many homes are available in Norma Triangle, CA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 36 | 43 | +19.4% |
Summary: The Norma Triangle real estate market had 43 homes for sale in May 2024, a 19.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 11 | 11 | 0.0% |
| 2 Bedrooms | 14 | 14 | 0.0% |
| 3 Bedrooms | 4 | 9 | +125.0% |
| 4 Bedrooms | 2 | 3 | +50.0% |
| 5+ Bedrooms | 5 | 6 | +20.0% |
Summary: The Norma Triangle housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 125%, 4 bedroom homes increased by 50%, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 7 | 5 | -28.6% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Norma Triangle, you may be able to get a good deal. 40% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in Norma Triangle in May 2024, down by 28.6% month-over-month. Of the 5 sold homes, 40% were sold under asking, 40% were sold at asking, and 20% were sold over asking.
Days on Market for Norma Triangle, CA
How long does it take to sell a home in Norma Triangle, CA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 27 Days | 16 Days | -42.0% |
Summary: Homes in Norma Triangle had an average of 16 days on market in May 2024, down by 42% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Norma Triangle are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 5 homes were sold in Norma Triangle; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.