Is Norwalk, OH a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
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
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
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $122.5K | $115K | -6.1% |
| 3 Bedrooms | $175K | $179.5K | +2.6% |
| 4 Bedrooms | $252.5K | $199.9K | -20.8% |
| 5+ Bedrooms | $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 | $179.5K | $175K | -2.5% |
| 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
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 53 | 70 | +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
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 3 | 4 | +33.3% |
| 3 Bedrooms | 28 | 36 | +28.6% |
| 4 Bedrooms | 16 | 24 | +50.0% |
| 5+ Bedrooms | 6 | 6 | 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 2024 | May 2024 | CHANGE |
|---|---|---|
| 12 | 15 | +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
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 2023 | May 2024 | CHANGE |
|---|---|---|
| 39 Days | 57 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
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.
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