Is Norwalk, OH a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Norwalk has remained a Seller's Market.
Key Takeaway
Norwalk is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Norwalk, OH
How much do homes in Norwalk, OH cost?
Median Sold Price
$175,000
$129/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Norwalk have sold for 4.8% more than they did a year ago.
Summary: The median home sold price in Norwalk was $175,000 in March 2024, up 4.8% from last year, and the median price per square foot was $129.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $155K | - | N/A |
| 2 Bedrooms | $121K | $115K | -5.0% |
| 3 Bedrooms | $167K | $180K | +7.8% |
| 4 Bedrooms | $233K | $200.5K | -13.9% |
| 5+ Bedrooms | $191.7K | $134.3K | -30.0% |
Summary: Norwalk housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 5%, 3 bedroom homes increased by 7.8%, 4 bedroom homes decreased by 13.9%, and 5+ bedroom homes decreased by 30%.
Median Sold Price Compared To Nearby Cities
| Ridgefield Township | $105K | $150K | +42.9% |
| Norwalk | $167K | $175K | +4.8% |
| Norwalk Township | $179.9K | $175K | -2.7% |
Housing Supply in Norwalk, OH
How many homes are available in Norwalk, OH?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 47 | 44 | -6.4% |
Summary: The Norwalk real estate market had 44 homes for sale in March 2024, a 6.4% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 4 | 2 | -50.0% |
| 3 Bedrooms | 31 | 25 | -19.4% |
| 4 Bedrooms | 11 | 13 | +18.2% |
| 5+ Bedrooms | 1 | 4 | +300.0% |
Summary: The Norwalk housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 50%, 3 bedroom homes decreased by 19.4%, 4 bedroom homes increased by 18.2%, and 5+ bedroom homes increased by 300%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 15 | 15 | 0.0% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Norwalk, you may be able to get a good deal. 53.3% of homes here sold below asking price last month.
Summary: A total of 15 homes were sold or pending in Norwalk in March 2024, the same as the previous month. Of the 15 sold homes, 53% were sold under asking, 20% were sold at asking, and 27% were sold over asking.
Days on Market for Norwalk, OH
How long does it take to sell a home in Norwalk, OH?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 61 Days | 43 Days | -28.7% |
Summary: Homes in Norwalk had an average of 43 days on market in Mar 2024, down by 28.7% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Norwalk has remained consistent over time.
Summary: During March 2024, 15 homes were sold in Norwalk; 40% of homes were sold within 30 days, 47% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
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