Is Norwood Park West, 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 West has remained a Seller's Market.
Housing Prices in Norwood Park West, IL
How much do homes in Norwood Park West, IL cost?
Median Sold Price
$395,000
$254/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Norwood Park West was $395,000 in April 2024, up 5.3% from last year, and the median price per square foot was $254.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $128K | $126K | -1.6% |
2 Bedrooms | $330K | $329K | -0.3% |
3 Bedrooms | $380K | $422K | +11.1% |
4 Bedrooms | $520K | $625K | +20.2% |
5+ Bedrooms | $722K | - | N/A |
Summary: Norwood Park West housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.6%, 2 bedroom homes decreased by 0.3%, 3 bedroom homes increased by 11.1%, 4 bedroom homes increased by 20.2%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
Norwood Park | $350.2K | $380.3K | +8.6% |
Norwood Park West | $375K | $395K | +5.3% |
Edison Park | $370K | $387.5K | +4.7% |
Old Norwood | $511.5K | $462.5K | -9.6% |
Housing Supply in Norwood Park West, IL
How many homes are available in Norwood Park West, IL?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
17 | 22 | +29.4% |
Summary: The Norwood Park West real estate market had 22 homes for sale in April 2024, a 29.4% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 3 | 0.0% |
2 Bedrooms | 3 | 3 | 0.0% |
3 Bedrooms | 6 | 9 | +50.0% |
4 Bedrooms | 5 | 6 | +20.0% |
5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The Norwood Park West 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 50%, 4 bedroom homes increased by 20%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
2 | 8 | +300.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 8 homes were sold or pending in Norwood Park West in April 2024, up by 300.0% month-over-month. Of the 8 sold homes, 63% were sold under asking, 13% were sold at asking, and 25% were sold over asking.
Days on Market for Norwood Park West, IL
How long does it take to sell a home in Norwood Park West, IL?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
13 Days | 24 Days | +86.4% |
Summary: Homes in Norwood Park West had an average of 24 days on market in Apr 2024, up by 86.4% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 8 homes were sold in Norwood Park West; 75% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.