Is Norco, LA 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, Norco has remained a Seller's Market.
Key Takeaway
Norco is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Norco, LA
How much do homes in Norco, LA cost?
Median Sold Price
$222,500
$142/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Norco have sold for 5.5% more than they did a year ago.
Summary: The median home sold price in Norco was $222,500 in April 2024, up 5.5% from last year, and the median price per square foot was $142.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $172.2K | $119K | -30.9% |
| 3 Bedrooms | $209K | $222.5K | +6.5% |
| 4 Bedrooms | $276K | $250K | -9.4% |
| 5+ Bedrooms | $251.3K | $313K | +24.5% |
Summary: Norco housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 30.9%, 3 bedroom homes increased by 6.5%, 4 bedroom homes decreased by 9.4%, and 5+ bedroom homes increased by 24.5%.
Housing Supply in Norco, LA
How many homes are available in Norco, LA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 9 | 11 | +22.2% |
Summary: The Norco real estate market had 11 homes for sale in April 2024, a 22.2% 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 | 2 | 2 | 0.0% |
| 3 Bedrooms | 3 | 5 | +66.7% |
| 4 Bedrooms | 3 | 3 | 0.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Norco 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 66.7%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 0 | 2 | +100.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Norco, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Norco in April 2024, up by 100.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.
Days on Market for Norco, LA
How long does it take to sell a home in Norco, LA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 45 Days | 114 Days | +150.5% |
Summary: Homes in Norco had an average of 114 days on market in Apr 2024, up by 150.5% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Norco has remained consistent over time.
Summary: During April 2024, 2 homes were sold in Norco; 0% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.
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