Is Norridge, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since August 2022
Since last year, Norridge has remained a Seller's Market.
Housing Prices
How much do homes in Norridge, IL cost?
Median Sold Price
$357,750
$250/sqft
Based on all homes sold in the last 12 months.
Difference Since August 2022
Summary: The median home sold price in Norridge was $357,750 in August 2023, up 4.2% from last year, and the median price per square foot was $250.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Aug 2022 | Aug 2023 | CHANGE |
---|---|---|---|
1 Bedroom | $132K | $170K | +28.8% |
2 Bedrooms | $267K | $298.3K | +11.7% |
3 Bedrooms | $355.6K | $366.2K | +3.0% |
4 Bedrooms | $515K | $455K | -11.7% |
5+ Bedrooms | $660K | $567.5K | -14.0% |
Summary: Norridge housing prices by bedroom type for August 2023 compared to the previous year: The home price of 1 bedroom homes increased by 28.8%, 2 bedroom homes increased by 11.7%, 3 bedroom homes increased by 3%, 4 bedroom homes decreased by 11.7%, and 5+ bedroom homes decreased by 14%.
Median Sold Price Compared To Nearby Cities
Norwood Park Township | $351.9K | $370K | +5.1% |
Norridge | $343.2K | $357.7K | +4.2% |
Leyden Township | $280K | $286.1K | +2.2% |
Harwood Heights | $323.7K | $330K | +1.9% |
Chicago | $348.5K | $337.8K | -3.1% |
Housing Supply
How many homes are available in Norridge, IL?
Number of Homes For Sale
Jul 2023 | Aug 2023 | CHANGE |
---|---|---|
48 | 65 | +35.4% |
Summary: The Norridge real estate market had 65 homes for sale in August 2023, a 35.4% increase compared to July 2023.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jul 2023 | Aug 2023 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 1 | +100.0% |
2 Bedrooms | 8 | 12 | +50.0% |
3 Bedrooms | 28 | 36 | +28.6% |
4 Bedrooms | 7 | 8 | +14.3% |
5+ Bedrooms | 5 | 8 | +60.0% |
Summary: The Norridge housing inventory by bedroom type for August 2023 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 50%, 3 bedroom homes increased by 28.6%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes increased by 60%.
Number of Homes Sold
Jul 2023 | Aug 2023 | CHANGE |
---|---|---|
9 | 19 | +111.1% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 19 homes were sold or pending in Norridge in August 2023, up by 111.1% month-over-month. Of the 19 sold homes, 53% were sold under asking, 21% were sold at asking, and 26% were sold over asking.
Days on Market
How long does it take to sell a home in Norridge, IL?
Average Sale Time
Aug 2022 | Aug 2023 | CHANGE |
---|---|---|
14 Days | 23 Days | +66.0% |
Summary: Homes in Norridge had an average of 23 days on market in Aug 2023, up by 66% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During August 2023, 19 homes were sold in Norridge; 68% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.