Is Norwalk, 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, Norwalk has remained a Seller's Market.
Housing Prices in Norwalk, CA
How much do homes in Norwalk, CA cost?
Median Sold Price
$710,000
$587/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Summary: The median home sold price in Norwalk was $710,000 in June 2024, up 6.1% from last year, and the median price per square foot was $587.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $393K | $437K | +11.2% |
2 Bedrooms | $619K | $650K | +5.0% |
3 Bedrooms | $685K | $730K | +6.6% |
4 Bedrooms | $761.2K | $767.5K | +0.8% |
5+ Bedrooms | $802.5K | $750K | -6.5% |
Summary: Norwalk housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.2%, 2 bedroom homes increased by 5%, 3 bedroom homes increased by 6.6%, 4 bedroom homes increased by 0.8%, and 5+ bedroom homes decreased by 6.5%.
Median Sold Price Compared To Nearby Cities
Cerritos | $930K | $1.0M | +12.9% |
Santa Fe Springs | $700K | $750K | +7.1% |
Bellflower | $700K | $750K | +7.1% |
Downey-Norwalk | $715.4K | $760K | +6.2% |
Norwalk | $669.3K | $710K | +6.1% |
Housing Supply in Norwalk, CA
How many homes are available in Norwalk, CA?
Number of Homes For Sale
May 2024 | Jun 2024 | CHANGE |
---|---|---|
116 | 121 | +4.3% |
Summary: The Norwalk real estate market had 121 homes for sale in June 2024, a 4.3% increase compared to May 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 2 | +100.0% |
2 Bedrooms | 29 | 28 | -3.4% |
3 Bedrooms | 65 | 66 | +1.5% |
4 Bedrooms | 18 | 20 | +11.1% |
5+ Bedrooms | 4 | 5 | +25.0% |
Summary: The Norwalk housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 3.4%, 3 bedroom homes increased by 1.5%, 4 bedroom homes increased by 11.1%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
May 2024 | Jun 2024 | CHANGE |
---|---|---|
28 | 41 | +46.4% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
34 Homes Were Sold
Over Asking
Summary: A total of 41 homes were sold or pending in Norwalk in June 2024, up by 46.4% month-over-month. Of the 41 sold homes, 5% were sold under asking, 12% were sold at asking, and 83% were sold over asking.
Days on Market for Norwalk, CA
How long does it take to sell a home in Norwalk, CA?
Average Sale Time
Jun 2023 | Jun 2024 | CHANGE |
---|---|---|
12 Days | 15 Days | +28.1% |
Summary: Homes in Norwalk had an average of 15 days on market in Jun 2024, up by 28.1% compared to last year.
Breakdown of Home Sale Times
35 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During June 2024, 41 homes were sold in Norwalk; 85% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.