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 seller's market

Buyer's
Market

Difference Since December 2020

Since last year, Norwood Park Township has remained a Seller's Market.

Key Takeaway

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

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

Median Sold Price

$349,816

$235/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2020

+$23,066(+7.1%)

Key Takeaway

Homes in Norwood Park Township have sold for 7.1% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSDec 2020Dec 2021%
1 $162K$140K
-13.6%
2 $268K$272.5K
+1.7%
3 $325K$355K
+9.2%
4 $430K$500K
+16.3%
5+ $537K$480K
-10.6%

Median Sold Price Compared To Nearby Cities

Leyden Township
+17.0%
Norwood Park Township
+7.1%
Norridge
+6.3%
Park Ridge
+4.6%
Harwood Heights
+3.4%

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

Number of Homes For Sale

Nov 2021Dec 2021%
147122-17.0%

Homes For Sale By Bedroom Count

# BEDSNov 2021Dec 2021%
1 55
0.0%
2 3729
-21.6%
3 6448
-25.0%
4 2425
+4.2%
5+ 1715
-11.8%

Number of Homes Sold

Nov 2021Dec 2021%
3528-20.0%

Asking Price vs. Sold Price

23 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

3 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. 82.1% of homes here sold below asking price last month.

Average Sale Time

Dec 2020Dec 2021%
33 Days29 Days-12.0%

Breakdown of Home Sale Times

19 Homes Were Sold
Under 30 Days

7 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Norwood Park Township are selling fast, if you're buying plan to act quickly.

About Norwood Park Township, IL

Norwood Park Township, IL has 122 homes for sale to choose from. The inventory of homes for sale in Norwood Park Township, IL between November 2021 and December 2021 decreased by 17%. While the average time on the market in December 2021 was 29 days, the median list price was $349,816. This housing market listing prices have changed between November 2021 and December 2021: the cost of 1 bedroom properties went down by 13.6%, prices of 2 bedrooms properties increased by 1.7%, 3 bedrooms properties became 9.2% more expensive, prices of 4 bedrooms properties increased by 16.3%, 5 bedrooms properties became 10.6% more cheaper. Housing inventory have changed in this real estate market: number of 1 bedroom homes remained the same, number of 2 bedrooms homes decreased by 21.6%, number of 3 bedrooms homes decreased by 25%, volume of 4 bedrooms homes went up by 4.2%, number of 5 bedrooms homes decreased by 11.8%. Norwood Park Township, IL housing market in December 2021 saw over 3 listings sold above listed price, more than 2 sold at listed price and over 23 sold below.

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