Is Norwood Park East, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Norwood Park East has remained a Seller's Market.
Housing Prices in Norwood Park East, IL
How much do homes in Norwood Park East, IL cost?
Median Sold Price
$425,000
$213/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Norwood Park East was $425,000 in April 2024, up 14.9% from last year, and the median price per square foot was $213.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $120K | $148K | +23.3% |
2 Bedrooms | $225K | $202K | -10.2% |
3 Bedrooms | $399K | $407.5K | +2.1% |
4 Bedrooms | $521.4K | $540K | +3.6% |
5+ Bedrooms | $565K | $597.5K | +5.8% |
Summary: Norwood Park East housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 23.3%, 2 bedroom homes decreased by 10.2%, 3 bedroom homes increased by 2.1%, 4 bedroom homes increased by 3.6%, and 5+ bedroom homes increased by 5.8%.
Median Sold Price Compared To Nearby Neighborhoods
Norwood Park East | $370K | $425K | +14.9% |
Norwood Park | $350.2K | $380.3K | +8.6% |
Far North Side | $330.2K | $350.8K | +6.2% |
Jefferson Park | $390K | $396K | +1.5% |
Housing Supply in Norwood Park East, IL
How many homes are available in Norwood Park East, IL?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
36 | 43 | +19.4% |
Summary: The Norwood Park East real estate market had 43 homes for sale in April 2024, a 19.4% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 3 | +100.0% |
2 Bedrooms | 9 | 9 | 0.0% |
3 Bedrooms | 13 | 15 | +15.4% |
4 Bedrooms | 10 | 11 | +10.0% |
5+ Bedrooms | 4 | 5 | +25.0% |
Summary: The Norwood Park East housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 15.4%, 4 bedroom homes increased by 10%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
11 | 10 | -9.1% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 10 homes were sold or pending in Norwood Park East in April 2024, down by 9.1% month-over-month. Of the 10 sold homes, 40% were sold under asking, 10% were sold at asking, and 50% were sold over asking.
Days on Market for Norwood Park East, IL
How long does it take to sell a home in Norwood Park East, IL?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
109 Days | 18 Days | -82.9% |
Summary: Homes in Norwood Park East had an average of 18 days on market in Apr 2024, down by 82.9% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 10 homes were sold in Norwood Park East; 90% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.