Is Norwalk, 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, Norwalk has remained a Seller's Market.
Housing Prices in Norwalk, CA
How much do homes in Norwalk, CA cost?
Median Sold Price
$702,666
$577/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Norwalk was $702,666 in May 2024, up 4.1% from last year, and the median price per square foot was $577.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $392.5K | $433.5K | +10.4% |
2 Bedrooms | $625K | $650K | +4.0% |
3 Bedrooms | $685K | $730K | +6.6% |
4 Bedrooms | $771K | $752.5K | -2.4% |
5+ Bedrooms | $802.5K | $750K | -6.5% |
Summary: Norwalk housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.4%, 2 bedroom homes increased by 4%, 3 bedroom homes increased by 6.6%, 4 bedroom homes decreased by 2.4%, and 5+ bedroom homes decreased by 6.5%.
Median Sold Price Compared To Nearby Cities
Cerritos | $930K | $1.0M | +12.8% |
Bellflower | $690K | $760K | +10.1% |
Downey-Norwalk | $715K | $757.3K | +5.9% |
Santa Fe Springs | $700K | $735K | +5.0% |
Norwalk | $675K | $702.6K | +4.1% |
Housing Supply in Norwalk, CA
How many homes are available in Norwalk, CA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
111 | 111 | 0.0% |
Summary: The Norwalk real estate market had 111 homes for sale in May 2024, the same as April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 25 | 26 | +4.0% |
3 Bedrooms | 62 | 62 | 0.0% |
4 Bedrooms | 19 | 18 | -5.3% |
5+ Bedrooms | 4 | 4 | 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 4%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 5.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
37 | 25 | -32.4% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
17 Homes Were Sold
Over Asking
Summary: A total of 25 homes were sold or pending in Norwalk in May 2024, down by 32.4% month-over-month. Of the 25 sold homes, 24% were sold under asking, 8% were sold at asking, and 68% were sold over asking.
Days on Market for Norwalk, CA
How long does it take to sell a home in Norwalk, CA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
28 Days | 18 Days | -33.0% |
Summary: Homes in Norwalk had an average of 18 days on market in May 2024, down by 33% compared to last year.
Breakdown of Home Sale Times
21 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 25 homes were sold in Norwalk; 84% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.