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 November 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

$375,000

$258/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$15,000(+4.2%)

Key Takeaway

Homes in Norridge have sold for 4.2% more than they did a year ago.

Summary: The median home sold price in Norridge was $375,000 in November 2024, up 4.2% from last year, and the median price per square foot was $258.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $217.5K$177.7K
-18.3%
2 $300K$320K
+6.7%
3 $367.5K$376.9K
+2.6%
4 $450K$470K
+4.4%
5+ $658.5K$790K
+20.0%

Summary: Norridge housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 18.3%, 2 bedroom homes increased by 6.7%, 3 bedroom homes increased by 2.6%, 4 bedroom homes increased by 4.4%, and 5+ bedroom homes increased by 20%.

Median Sold Price Compared To Nearby Cities

Chicago
+7.1%
Leyden Township
+6.5%
Norridge
+4.2%
Norwood Park Township
+1.4%
Harwood Heights
-3.3%

Housing Supply in Norridge, IL

How many homes are available in Norridge, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
4649+6.5%

Summary: The Norridge real estate market had 49 homes for sale in November 2024, a 6.5% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 10
-100.0%
2 1210
-16.7%
3 2124
+14.3%
4 910
+11.1%
5+ 35
+66.7%

Summary: The Norridge housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 16.7%, 3 bedroom homes increased by 14.3%, 4 bedroom homes increased by 11.1%, and 5+ bedroom homes increased by 66.7%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
1012+20.0%

Asking Price vs. Sold Price

9 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

1 Home Was 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. 75% of homes here sold below asking price last month.

Summary: A total of 12 homes were sold or pending in Norridge in November 2024, up by 20.0% month-over-month. Of the 12 sold homes, 75% were sold under asking, 17% were sold at asking, and 8% 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

Nov 2023Nov 2024CHANGE
13 Days60 Days+332.3%

Summary: Homes in Norridge had an average of 60 days on market in Nov 2024, up by 332.3% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

7 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Norridge has remained consistent over time.

Summary: During November 2024, 12 homes were sold in Norridge; 25% of homes were sold within 30 days, 58% of homes were sold within 30 to 90 days, and 17% 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 20 Days Ago

Newest Listings in Norridge, IL

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