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 April 2023

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.

Housing Prices in Normal, IL

How much do homes in Normal, IL cost?

Median Sold Price

$241,750

$108/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$23,208(+10.6%)

Key Takeaway

Homes in Normal have sold for 10.6% more than they did a year ago.

Summary: The median home sold price in Normal was $241,750 in April 2024, up 10.6% from last year, and the median price per square foot was $108.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $240K$289.9K
+20.8%
2 $147.2K$170K
+15.4%
3 $210K$230.8K
+9.9%
4 $290K$300K
+3.4%
5+ $236.8K$235K
-0.8%

Summary: Normal housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 20.8%, 2 bedroom homes increased by 15.4%, 3 bedroom homes increased by 9.9%, 4 bedroom homes increased by 3.4%, and 5+ bedroom homes decreased by 0.8%.

Median Sold Price Compared To Nearby Cities

Normal Township
+12.4%
Bloomington
+11.6%
Normal
+10.6%
Bloomington City Township
+8.1%

Housing Supply in Normal, IL

How many homes are available in Normal, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
119129+8.4%

Summary: The Normal real estate market had 129 homes for sale in April 2024, a 8.4% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 20
-100.0%
2 2021
+5.0%
3 5665
+16.1%
4 3638
+5.6%
5+ 55
0.0%

Summary: The Normal housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 5%, 3 bedroom homes increased by 16.1%, 4 bedroom homes increased by 5.6%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
4229-31.0%

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

16 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. 55.2% of homes here sold above asking price last month.

Summary: A total of 29 homes were sold or pending in Normal in April 2024, down by 31.0% month-over-month. Of the 29 sold homes, 28% were sold under asking, 17% were sold at asking, and 55% were sold over asking.

Days on Market for Normal, IL

How long does it take to sell a home in Normal, IL?

Average Sale Time

Apr 2023Apr 2024CHANGE
24 Days47 Days+92.4%

Summary: Homes in Normal had an average of 47 days on market in Apr 2024, up by 92.4% compared to last year.

Breakdown of Home Sale Times

25 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

3 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.

Summary: During April 2024, 29 homes were sold in Normal; 86% of homes were sold within 30 days, 3% of homes were sold within 30 to 90 days, and 10% 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 10 Days Ago

Newest Listings in Normal, IL

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