Is Normal, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Normal is a seller's market

Buyer's
Market

Difference Since August 2021

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

Key Takeaway

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

How much do homes in Normal, IL cost?

Median Sold Price

$213,165

$99/sqft

Based on all homes sold in the last 12 months.

Difference Since August 2021

+$33,852(+18.9%)

Key Takeaway

Homes in Normal have sold for 18.9% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSAug 2021Aug 2022%
1 $279.9K$284.4K
+1.6%
2 $126.5K$150K
+18.6%
3 $164K$200K
+22.0%
4 $226K$285.3K
+26.2%
5+ $223K$230K
+3.1%

Median Sold Price Compared To Nearby Cities

Normal Township
+19.0%
Normal
+18.9%
Dry Grove Township
+16.1%
Bloomington City Township
+12.9%
Bloomington
+12.9%

How many homes are available in Normal, IL?

Number of Homes For Sale

Jul 2022Aug 2022%
238201-15.5%

Homes For Sale By Bedroom Count

# BEDSJul 2022Aug 2022%
1 10
-100.0%
2 4233
-21.4%
3 113100
-11.5%
4 7261
-15.3%
5+ 107
-30.0%

Number of Homes Sold

Jul 2022Aug 2022%
9092+2.2%

Asking Price vs. Sold Price

22 Homes Were Sold
Under Asking

19 Homes Were Sold
At Asking

51 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Normal, you could pay more than the asking price. 55.4% of homes here sold above asking price last month.

Average Sale Time

Aug 2021Aug 2022%
9 Days7 Days-21.9%

Breakdown of Home Sale Times

89 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Normal, IL

Number of homes for sale in Normal, IL real estate market have reached 201. The number of homes for sale in Normal, IL decreased by 15.5% between July 2022 and August 2022. While the average time on the market in August 2022 was 7 days, the median list price was $213,165. Listing prices have changed in this real estate market between July 2022 and August 2022: the cost of 1 bedroom properties went up by 1.6%, prices of 2 bedrooms properties increased by 18.6%, prices of 3 bedrooms properties went up by 22%, prices of 4 bedrooms properties increased by 26.2%, 5 bedrooms properties prices increased by 3.1%. The following changes in the number of homes for sale were observed in this housing market: 1 bedroom homes became 100% less available, 2 bedrooms homes became 21.4% less available, 3 bedrooms homes became 11.5% less available, the quantity of 4 bedrooms homes went down by 15.3%, number of 5 bedrooms homes decreased by 30%. In August 2022, from all listings sold in Normal, IL there were more than 51 sold above asking price, over 22 sold below and more than 19 were sold right at the asked price.

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