Is Norco, CA 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, Norco has remained a Seller's Market.
Housing Prices in Norco, CA
How much do homes in Norco, CA cost?
Median Sold Price
$880,000
$433/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Norco was $880,000 in May 2024, up 10% from last year, and the median price per square foot was $433.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $465K | - | N/A |
2 Bedrooms | $607K | $600K | -1.2% |
3 Bedrooms | $770K | $770K | 0.0% |
4 Bedrooms | $810K | $975K | +20.4% |
5+ Bedrooms | $1.1M | $1.1M | -2.2% |
Summary: Norco 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 1.2%, 3 bedroom homes did not change, 4 bedroom homes increased by 20.4%, and 5+ bedroom homes decreased by 2.2%.
Housing Supply in Norco, CA
How many homes are available in Norco, CA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
50 | 59 | +18.0% |
Summary: The Norco real estate market had 59 homes for sale in May 2024, a 18.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 4 | 4 | 0.0% |
3 Bedrooms | 15 | 24 | +60.0% |
4 Bedrooms | 19 | 18 | -5.3% |
5+ Bedrooms | 11 | 12 | +9.1% |
Summary: The Norco 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 remained the same, 3 bedroom homes increased by 60%, 4 bedroom homes decreased by 5.3%, and 5+ bedroom homes increased by 9.1%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
16 | 14 | -12.5% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Summary: A total of 14 homes were sold or pending in Norco in May 2024, down by 12.5% month-over-month. Of the 14 sold homes, 29% were sold under asking, 21% were sold at asking, and 50% were sold over asking.
Days on Market for Norco, CA
How long does it take to sell a home in Norco, CA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
53 Days | 73 Days | +38.2% |
Summary: Homes in Norco had an average of 73 days on market in May 2024, up by 38.2% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 14 homes were sold in Norco; 86% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.