Is Norwalk, IA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Norwalk was a Seller's Market.
Key Takeaway
Norwalk is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Norwalk, IA
How much do homes in Norwalk, IA cost?
Median Sold Price
$325,500
$233/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Norwalk have sold for 7.9% more than they did a year ago.
Summary: The median home sold price in Norwalk was $325,500 in April 2024, up 7.9% from last year, and the median price per square foot was $233.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $188.7K | $205K | +8.6% |
| 3 Bedrooms | $253K | $277.5K | +9.7% |
| 4 Bedrooms | $454.4K | $384.9K | -15.3% |
| 5+ Bedrooms | $592.7K | $545.7K | -7.9% |
Summary: Norwalk 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 increased by 8.6%, 3 bedroom homes increased by 9.7%, 4 bedroom homes decreased by 15.3%, and 5+ bedroom homes decreased by 7.9%.
Median Sold Price Compared To Nearby Cities
| Bloomfield Township | $190.4K | $215K | +12.9% |
| Norwalk | $301.7K | $325.5K | +7.9% |
| Linn Township | $309.5K | $330K | +6.6% |
| Greenfield Township | $294.5K | $296.4K | +0.7% |
| Cumming | $583.7K | $515K | -11.8% |
Housing Supply in Norwalk, IA
How many homes are available in Norwalk, IA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 164 | 157 | -4.3% |
Summary: The Norwalk real estate market had 157 homes for sale in April 2024, a 4.3% decrease 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 | 7 | 8 | +14.3% |
| 3 Bedrooms | 75 | 77 | +2.7% |
| 4 Bedrooms | 65 | 52 | -20.0% |
| 5+ Bedrooms | 17 | 20 | +17.6% |
Summary: The Norwalk 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 14.3%, 3 bedroom homes increased by 2.7%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes increased by 17.6%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 23 | 23 | 0.0% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Norwalk, you may be able to get a good deal. 52.2% of homes here sold below asking price last month.
Summary: A total of 23 homes were sold or pending in Norwalk in April 2024, the same as the previous month. Of the 23 sold homes, 52% were sold under asking, 35% were sold at asking, and 13% were sold over asking.
Days on Market for Norwalk, IA
How long does it take to sell a home in Norwalk, IA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 84 Days | 77 Days | -7.7% |
Summary: Homes in Norwalk had an average of 77 days on market in Apr 2024, down by 7.7% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Norwalk are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 23 homes were sold in Norwalk; 52% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 30% of homes were sold over 90 days.
