Is Norwood Park Township, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Norwood Park Township is a neutral's market

Buyer's
Market

Difference Since February 2022

At the same time last year, Norwood Park Township was a Seller's Market.

Key Takeaway

Norwood Park Township is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

How much do homes in Norwood Park Township, IL cost?

Median Sold Price

$357,930

$253/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2022

+$7,930(+2.3%)

Key Takeaway

Homes in Norwood Park Township have sold for 2.3% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSFeb 2022Feb 2023%
1 $129.5K$183K
+41.3%
2 $260K$289.2K
+11.3%
3 $356.2K$369K
+3.6%
4 $505K$530K
+5.0%
5+ $480K$565K
+17.7%

Median Sold Price Compared To Nearby Cities

Park Ridge
+7.4%
Harwood Heights
+3.1%
Norwood Park Township
+2.3%
Norridge
+2.3%
Maine Township
+1.6%

How many homes are available in Norwood Park Township, IL?

Number of Homes For Sale

Jan 2023Feb 2023%
5968+15.3%

Homes For Sale By Bedroom Count

# BEDSJan 2023Feb 2023%
1 00
0.0%
2 1211
-8.3%
3 3536
+2.9%
4 815
+87.5%
5+ 46
+50.0%

Number of Homes Sold

Jan 2023Feb 2023%
1310-23.1%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Norwood Park Township, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Average Sale Time

Feb 2022Feb 2023%
29 Days77 Days+163.6%

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

4 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Most homes in Norwood Park Township are taking a long time to sell, it's a good idea to negotiate on homes here.

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

About Norwood Park Township, IL

There are 68 homes are for sale in Norwood Park Township, IL real estate market. The number of homes for sale in Norwood Park Township, IL increased by 15.3% between January 2023 and February 2023. The median list price of listings available in February 2023 was $357,930, while the average time on the real estate market was 77 days. This housing market listing prices have changed between January 2023 and February 2023: prices of 1 bedroom properties increased by 41.3%, prices of 2 bedrooms properties went up by 11.3%, the cost of 3 bedrooms properties went up by 3.6%, 4 bedrooms properties became 5% more expensive, 5 bedrooms properties prices increased by 17.7%. Volume of homes for sale changed: 1 bedroom homes did not move, number of 2 bedrooms homes decreased by 8.3%, volume of 3 bedrooms homes went up by 2.9%, the quantity of 4 bedrooms homes went up by 87.5%, number of 5 bedrooms homes increased by 50%. In February 2023 more than 4 listings in Norwood Park Township, IL were sold above the asking price. During the same period more than 1 listings were sold at asking price, while more than 5 were sold below.

Related Housing Market Reports