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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Norridge is a seller's market

Buyer's
Market

Difference Since September 2023

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

Key Takeaway

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

Housing Prices in Norridge, IL

How much do homes in Norridge, IL cost?

Median Sold Price

$375,000

$263/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$15,000(+4.2%)

Key Takeaway

Homes in Norridge have sold for 4.2% more than they did a year ago.

Summary: The median home sold price in Norridge was $375,000 in September 2024, up 4.2% from last year, and the median price per square foot was $263.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 $170K$179.7K
+5.7%
2 $298.3K$320K
+7.3%
3 $366.2K$375.9K
+2.7%
4 $445K$450K
+1.1%
5+ $637K$790K
+24.0%

Summary: Norridge housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.7%, 2 bedroom homes increased by 7.3%, 3 bedroom homes increased by 2.7%, 4 bedroom homes increased by 1.1%, and 5+ bedroom homes increased by 24%.

Median Sold Price Compared To Nearby Cities

Leyden Township
+8.0%
Chicago
+5.9%
Norwood Park Township
+5.2%
Harwood Heights
+4.5%
Norridge
+4.2%

Housing Supply in Norridge, IL

How many homes are available in Norridge, IL?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
4359+37.2%

Summary: The Norridge real estate market had 59 homes for sale in September 2024, a 37.2% increase compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 12
+100.0%
2 915
+66.7%
3 1726
+52.9%
4 1311
-15.4%
5+ 35
+66.7%

Summary: The Norridge housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 66.7%, 3 bedroom homes increased by 52.9%, 4 bedroom homes decreased by 15.4%, and 5+ bedroom homes increased by 66.7%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
1115+36.4%

Asking Price vs. Sold Price

9 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Norridge, you may be able to get a good deal. 60% of homes here sold below asking price last month.

Summary: A total of 15 homes were sold or pending in Norridge in September 2024, up by 36.4% month-over-month. Of the 15 sold homes, 60% were sold under asking, 13% were sold at asking, and 27% were sold over asking.

Days on Market for Norridge, IL

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

Average Sale Time

Sep 2023Sep 2024CHANGE
25 Days22 Days-12.4%

Summary: Homes in Norridge had an average of 22 days on market in Sep 2024, down by 12.4% compared to last year.

Breakdown of Home Sale Times

12 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 Norridge are selling fast, if you're buying plan to act quickly.

Summary: During September 2024, 15 homes were sold in Norridge; 80% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 0% 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 30 Days Ago

Newest Listings in Norridge, IL

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