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 June 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
$395,000
$259/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Summary: The median home sold price in Norwood Park Township was $395,000 in June 2024, up 9.7% from last year, and the median price per square foot was $259.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $171K | $187K | +9.4% |
2 Bedrooms | $310K | $295K | -4.8% |
3 Bedrooms | $360K | $395K | +9.7% |
4 Bedrooms | $560K | $577.5K | +3.1% |
5+ Bedrooms | $560K | $725K | +29.5% |
Summary: Norwood Park Township housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.4%, 2 bedroom homes decreased by 4.8%, 3 bedroom homes increased by 9.7%, 4 bedroom homes increased by 3.1%, and 5+ bedroom homes increased by 29.5%.
Median Sold Price Compared To Nearby Cities
Maine Township | $330.4K | $370.7K | +12.2% |
Norwood Park Township | $360K | $395K | +9.7% |
Park Ridge | $489K | $534.3K | +9.3% |
Norridge | $350.9K | $375K | +6.9% |
Harwood Heights | $330K | $336K | +1.8% |
Housing Supply in Norwood Park Township, IL
How many homes are available in Norwood Park Township, IL?
Number of Homes For Sale
May 2024 | Jun 2024 | CHANGE |
---|---|---|
84 | 97 | +15.5% |
Summary: The Norwood Park Township real estate market had 97 homes for sale in June 2024, a 15.5% increase compared to May 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 3 | +50.0% |
2 Bedrooms | 17 | 17 | 0.0% |
3 Bedrooms | 42 | 43 | +2.4% |
4 Bedrooms | 19 | 27 | +42.1% |
5+ Bedrooms | 4 | 7 | +75.0% |
Summary: The Norwood Park Township housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes remained the same, 3 bedroom homes increased by 2.4%, 4 bedroom homes increased by 42.1%, and 5+ bedroom homes increased by 75%.
Number of Homes Sold
May 2024 | Jun 2024 | CHANGE |
---|---|---|
29 | 29 | 0.0% |
Asking Price vs. Sold Price
15 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Summary: A total of 29 homes were sold or pending in Norwood Park Township in June 2024, the same as the previous month. Of the 29 sold homes, 52% were sold under asking, 10% were sold at asking, and 38% 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
Jun 2023 | Jun 2024 | CHANGE |
---|---|---|
22 Days | 20 Days | -11.3% |
Summary: Homes in Norwood Park Township had an average of 20 days on market in Jun 2024, down by 11.3% compared to last year.
Breakdown of Home Sale Times
26 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During June 2024, 29 homes were sold in Norwood Park Township; 90% of homes were sold within 30 days, 3% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.