Is Norridge, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Norridge is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Norridge has remained a Seller's Market.

Key Takeaway

Norridge is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Norridge, IL

How much do homes in Norridge, IL cost?

Median Sold Price

$369,500

$250/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$19,500(+5.6%)

Key Takeaway

Homes in Norridge have sold for 5.6% more than they did a year ago.

Summary: The median home sold price in Norridge was $369,500 in May 2024, up 5.6% from last year, and the median price per square foot was $250.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $222.5K$178.2K
-19.9%
2 $298K$319K
+7.0%
3 $360K$375K
+4.2%
4 $428.5K$455K
+6.2%
5+ $565K$690K
+22.1%

Summary: Norridge housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 19.9%, 2 bedroom homes increased by 7%, 3 bedroom homes increased by 4.2%, 4 bedroom homes increased by 6.2%, and 5+ bedroom homes increased by 22.1%.

Median Sold Price Compared To Nearby Cities

Leyden Township
+8.9%
Norwood Park Township
+8.1%
Norridge
+5.6%
Chicago
+3.1%
Harwood Heights
0.3%

Housing Supply in Norridge, IL

How many homes are available in Norridge, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
4653+15.2%

Summary: The Norridge real estate market had 53 homes for sale in May 2024, a 15.2% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 23
+50.0%
2 99
0.0%
3 2527
+8.0%
4 58
+60.0%
5+ 56
+20.0%

Summary: The Norridge housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes remained the same, 3 bedroom homes increased by 8%, 4 bedroom homes increased by 60%, and 5+ bedroom homes increased by 20%.

Number of Homes Sold

Apr 2024May 2024CHANGE
1412-14.3%

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Norridge, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.

Summary: A total of 12 homes were sold or pending in Norridge in May 2024, down by 14.3% month-over-month. Of the 12 sold homes, 67% were sold under asking, 8% were sold at asking, and 25% were sold over asking.

Days on Market for Norridge, IL

How long does it take to sell a home in Norridge, IL?

Average Sale Time

May 2023May 2024CHANGE
66 Days18 Days-72.1%

Summary: Homes in Norridge had an average of 18 days on market in May 2024, down by 72.1% compared to last year.

Breakdown of Home Sale Times

9 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 12 homes were sold in Norridge; 75% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 0% 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 1 Day Ago

Newest Listings in Norridge, IL

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