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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Norwalk is a seller's market

Buyer's
Market

Difference Since February 2023

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

Key Takeaway

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

Housing Prices in Norwalk, CA

How much do homes in Norwalk, CA cost?

Median Sold Price

$688,375

$572/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$3,375(+0.5%)

Key Takeaway

The sold price of homes in Norwalk has remained the same since last year.

Summary: The median home sold price in Norwalk was $688,375 in February 2024, up 0.5% from last year, and the median price per square foot was $572.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $392.5K$433.5K
+10.4%
2 $625K$625K
0.0%
3 $700K$710K
+1.4%
4 $771K$755K
-2.1%
5+ $800K$725K
-9.4%

Summary: Norwalk housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.4%, 2 bedroom homes did not change, 3 bedroom homes increased by 1.4%, 4 bedroom homes decreased by 2.1%, and 5+ bedroom homes decreased by 9.4%.

Median Sold Price Compared To Nearby Cities

Bellflower
+3.5%
Cerritos
+3.1%
Santa Fe Springs
+2.8%
Downey-Norwalk
+2.2%
Norwalk
0.5%

Housing Supply in Norwalk, CA

How many homes are available in Norwalk, CA?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
8088+10.0%

Summary: The Norwalk real estate market had 88 homes for sale in February 2024, a 10.0% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 01
+100.0%
2 2025
+25.0%
3 4546
+2.2%
4 1314
+7.7%
5+ 22
0.0%

Summary: The Norwalk housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 25%, 3 bedroom homes increased by 2.2%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
2033+65.0%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

22 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Norwalk, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.

Summary: A total of 33 homes were sold or pending in Norwalk in February 2024, up by 65.0% month-over-month. Of the 33 sold homes, 15% were sold under asking, 18% were sold at asking, and 67% 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

Feb 2023Feb 2024CHANGE
41 Days19 Days-52.6%

Summary: Homes in Norwalk had an average of 19 days on market in Feb 2024, down by 52.6% compared to last year.

Breakdown of Home Sale Times

26 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During February 2024, 33 homes were sold in Norwalk; 79% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 3% 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 3 Days Ago

Newest Listings in Norwalk, CA

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