Is Norwood Park Township, 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 Township has remained a Seller's Market.
Housing Prices in Norwood Park Township, IL
How much do homes in Norwood Park Township, IL cost?
Median Sold Price
$390,000
$253/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Norwood Park Township was $390,000 in April 2024, up 8.3% from last year, and the median price per square foot was $253.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $176.5K | $183.7K | +4.1% |
2 Bedrooms | $297K | $296.1K | -0.3% |
3 Bedrooms | $365K | $390K | +6.8% |
4 Bedrooms | $550K | $568.5K | +3.4% |
5+ Bedrooms | $562.5K | $740.5K | +31.6% |
Summary: Norwood Park Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.1%, 2 bedroom homes decreased by 0.3%, 3 bedroom homes increased by 6.8%, 4 bedroom homes increased by 3.4%, and 5+ bedroom homes increased by 31.6%.
Median Sold Price Compared To Nearby Cities
Norwood Park Township | $360K | $390K | +8.3% |
Maine Township | $334.8K | $359.9K | +7.5% |
Norridge | $350K | $370K | +5.7% |
Park Ridge | $495K | $522.4K | +5.5% |
Harwood Heights | $330K | $330K | 0.0% |
Housing Supply in Norwood Park Township, IL
How many homes are available in Norwood Park Township, IL?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
71 | 88 | +23.9% |
Summary: The Norwood Park Township real estate market had 88 homes for sale in April 2024, a 23.9% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 2 | 0.0% |
2 Bedrooms | 17 | 17 | 0.0% |
3 Bedrooms | 36 | 43 | +19.4% |
4 Bedrooms | 11 | 20 | +81.8% |
5+ Bedrooms | 5 | 6 | +20.0% |
Summary: The Norwood Park Township housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 19.4%, 4 bedroom homes increased by 81.8%, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
20 | 21 | +5.0% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Summary: A total of 21 homes were sold or pending in Norwood Park Township in April 2024, up by 5.0% month-over-month. Of the 21 sold homes, 62% were sold under asking, 10% were sold at asking, and 29% were sold over asking.
Days on Market for Norwood Park Township, IL
How long does it take to sell a home in Norwood Park Township, IL?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
29 Days | 28 Days | -5.6% |
Summary: Homes in Norwood Park Township had an average of 28 days on market in Apr 2024, down by 5.6% compared to last year.
Breakdown of Home Sale Times
17 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 21 homes were sold in Norwood Park Township; 81% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.