Is Norwalk, OH a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Norwalk is a seller's market

Buyer's
Market

Difference Since May 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

$131/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

-$4,500(-2.5%)

Key Takeaway

Homes in Norwalk have sold for 2.5% less than they did a year ago.

Summary: The median home sold price in Norwalk was $175,000 in May 2024, down 2.5% from last year, and the median price per square foot was $131.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 --
N/A
2 $122.5K$115K
-6.1%
3 $175K$179.5K
+2.6%
4 $252.5K$199.9K
-20.8%
5+ $196K$134.3K
-31.5%

Summary: Norwalk housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 6.1%, 3 bedroom homes increased by 2.6%, 4 bedroom homes decreased by 20.8%, and 5+ bedroom homes decreased by 31.5%.

Median Sold Price Compared To Nearby Cities

Norwalk
-2.5%
Norwalk Township
-2.7%

Housing Supply in Norwalk, OH

How many homes are available in Norwalk, OH?

Number of Homes For Sale

Apr 2024May 2024CHANGE
5370+32.1%

Summary: The Norwalk real estate market had 70 homes for sale in May 2024, a 32.1% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 34
+33.3%
3 2836
+28.6%
4 1624
+50.0%
5+ 66
0.0%

Summary: The Norwalk housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 33.3%, 3 bedroom homes increased by 28.6%, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Apr 2024May 2024CHANGE
1215+25.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

8 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Norwalk, you could pay more than the asking price. 53.3% of homes here sold above asking price last month.

Summary: A total of 15 homes were sold or pending in Norwalk in May 2024, up by 25.0% month-over-month. Of the 15 sold homes, 20% were sold under asking, 27% were sold at asking, and 53% 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

May 2023May 2024CHANGE
39 Days57 Days+46.4%

Summary: Homes in Norwalk had an average of 57 days on market in May 2024, up by 46.4% compared to last year.

Breakdown of Home Sale Times

7 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 15 homes were sold in Norwalk; 47% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 19 Days Ago

Newest Listings in Norwalk, OH

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