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 October 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

$372,500

$260/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$12,500(+3.5%)

Key Takeaway

Homes in Norridge have sold for 3.5% more than they did a year ago.

Summary: The median home sold price in Norridge was $372,500 in October 2024, up 3.5% from last year, and the median price per square foot was $260.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $170K$179K
+5.3%
2 $298K$320K
+7.4%
3 $367.5K$375.9K
+2.3%
4 $450K$460K
+2.2%
5+ $628.5K$882.5K
+40.4%

Summary: Norridge housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.3%, 2 bedroom homes increased by 7.4%, 3 bedroom homes increased by 2.3%, 4 bedroom homes increased by 2.2%, and 5+ bedroom homes increased by 40.4%.

Median Sold Price Compared To Nearby Cities

Leyden Township
+7.2%
Chicago
+6.1%
Norridge
+3.5%
Norwood Park Township
+1.6%
Harwood Heights
-1.1%

Housing Supply in Norridge, IL

How many homes are available in Norridge, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
5155+7.8%

Summary: The Norridge real estate market had 55 homes for sale in October 2024, a 7.8% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 21
-50.0%
2 1414
0.0%
3 2125
+19.0%
4 1011
+10.0%
5+ 44
0.0%

Summary: The Norridge housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes remained the same, 3 bedroom homes increased by 19%, 4 bedroom homes increased by 10%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
1610-37.5%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Norridge, you could pay more than the asking price. 50% of homes here sold above asking price last month.

Summary: A total of 10 homes were sold or pending in Norridge in October 2024, down by 37.5% month-over-month. Of the 10 sold homes, 40% were sold under asking, 10% were sold at asking, and 50% 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

Oct 2023Oct 2024CHANGE
17 Days10 Days-36.3%

Summary: Homes in Norridge had an average of 10 days on market in Oct 2024, down by 36.3% compared to last year.

Breakdown of Home Sale Times

9 Homes Were Sold
Under 30 Days

1 Home Was 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 October 2024, 10 homes were sold in Norridge; 90% of homes were sold within 30 days, 10% 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 20 Days Ago

Newest Listings in Norridge, IL

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