Is Old Norwood, 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, Old Norwood has remained a Seller's Market.
Housing Prices in Old Norwood, IL
How much do homes in Old Norwood, IL cost?
Median Sold Price
$462,500
$270/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Old Norwood was $462,500 in April 2024, down 9.6% from last year, and the median price per square foot was $270.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $108K | $240K | +122.2% |
2 Bedrooms | $275.5K | $342K | +24.1% |
3 Bedrooms | $489K | $450K | -8.0% |
4 Bedrooms | $675K | $485K | -28.1% |
5+ Bedrooms | $725K | $800K | +10.3% |
Summary: Old Norwood housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 122.2%, 2 bedroom homes increased by 24.1%, 3 bedroom homes decreased by 8%, 4 bedroom homes decreased by 28.1%, and 5+ bedroom homes increased by 10.3%.
Median Sold Price Compared To Nearby Neighborhoods
Norwood Park East | $370K | $425K | +14.9% |
Norwood Park | $350.2K | $380.3K | +8.6% |
Union Ridge | $349.9K | $377.5K | +7.9% |
Norwood Park West | $375K | $395K | +5.3% |
Old Norwood | $511.5K | $462.5K | -9.6% |
Housing Supply in Old Norwood, IL
How many homes are available in Old Norwood, IL?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
6 | 11 | +83.3% |
Summary: The Old Norwood real estate market had 11 homes for sale in April 2024, a 83.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 1 | 4 | +300.0% |
3 Bedrooms | 4 | 6 | +50.0% |
4 Bedrooms | 0 | 1 | +100.0% |
5+ Bedrooms | 1 | 0 | -100.0% |
Summary: The Old Norwood 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 increased by 300%, 3 bedroom homes increased by 50%, 4 bedroom homes increased by 100%, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
1 | 5 | +400.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 5 homes were sold or pending in Old Norwood in April 2024, up by 400.0% month-over-month. Of the 5 sold homes, 60% were sold under asking, 0% were sold at asking, and 40% were sold over asking.
Days on Market for Old Norwood, IL
How long does it take to sell a home in Old Norwood, IL?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
106 Days | 39 Days | -62.8% |
Summary: Homes in Old Norwood had an average of 39 days on market in Apr 2024, down by 62.8% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 5 homes were sold in Old Norwood; 40% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.