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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Normal is a seller's market

Buyer's
Market

Difference Since November 2023

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

Key Takeaway

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

Housing Prices in Normal, IL

How much do homes in Normal, IL cost?

Median Sold Price

$253,000

$112/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$18,060(+7.7%)

Key Takeaway

Homes in Normal have sold for 7.7% more than they did a year ago.

Summary: The median home sold price in Normal was $253,000 in November 2024, up 7.7% from last year, and the median price per square foot was $112.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $288.9K$302.4K
+4.7%
2 $168K$185K
+10.1%
3 $219K$234.9K
+7.3%
4 $300K$318K
+6.0%
5+ $235K$255.4K
+8.7%

Summary: Normal housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.7%, 2 bedroom homes increased by 10.1%, 3 bedroom homes increased by 7.3%, 4 bedroom homes increased by 6%, and 5+ bedroom homes increased by 8.7%.

Median Sold Price Compared To Nearby Cities

Normal Township
+7.8%
Normal
+7.7%
Bloomington
+6.6%
Bloomington City Township
+6.2%

Housing Supply in Normal, IL

How many homes are available in Normal, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
141120-14.9%

Summary: The Normal real estate market had 120 homes for sale in November 2024, a 14.9% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 2420
-16.7%
3 7165
-8.5%
4 4130
-26.8%
5+ 55
0.0%

Summary: The Normal housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 16.7%, 3 bedroom homes decreased by 8.5%, 4 bedroom homes decreased by 26.8%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
5431-42.6%

Asking Price vs. Sold Price

12 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

15 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Normal, you could pay more than the asking price. 48.4% of homes here sold above asking price last month.

Summary: A total of 31 homes were sold or pending in Normal in November 2024, down by 42.6% month-over-month. Of the 31 sold homes, 39% were sold under asking, 13% were sold at asking, and 48% were sold over asking.

Days on Market for Normal, IL

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

Average Sale Time

Nov 2023Nov 2024CHANGE
15 Days8 Days-43.1%

Summary: Homes in Normal had an average of 8 days on market in Nov 2024, down by 43.1% compared to last year.

Breakdown of Home Sale Times

29 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2024, 31 homes were sold in Normal; 94% of homes were sold within 30 days, 6% 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 17 Days Ago

Newest Listings in Normal, IL

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