Is Norridge, IL 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, Norridge has remained a Seller's Market.
Housing Prices in Norridge, IL
How much do homes in Norridge, IL cost?
Median Sold Price
$369,500
$250/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Norridge was $369,500 in May 2024, up 5.6% from last year, and the median price per square foot was $250.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $222.5K | $178.2K | -19.9% |
2 Bedrooms | $298K | $319K | +7.0% |
3 Bedrooms | $360K | $375K | +4.2% |
4 Bedrooms | $428.5K | $455K | +6.2% |
5+ Bedrooms | $565K | $690K | +22.1% |
Summary: Norridge housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 19.9%, 2 bedroom homes increased by 7%, 3 bedroom homes increased by 4.2%, 4 bedroom homes increased by 6.2%, and 5+ bedroom homes increased by 22.1%.
Median Sold Price Compared To Nearby Cities
Leyden Township | $283.4K | $308.6K | +8.9% |
Norwood Park Township | $360.6K | $390K | +8.1% |
Norridge | $350K | $369.5K | +5.6% |
Chicago | $339.3K | $349.9K | +3.1% |
Harwood Heights | $330K | $331K | 0.3% |
Housing Supply in Norridge, IL
How many homes are available in Norridge, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
46 | 53 | +15.2% |
Summary: The Norridge real estate market had 53 homes for sale in May 2024, a 15.2% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 3 | +50.0% |
2 Bedrooms | 9 | 9 | 0.0% |
3 Bedrooms | 25 | 27 | +8.0% |
4 Bedrooms | 5 | 8 | +60.0% |
5+ Bedrooms | 5 | 6 | +20.0% |
Summary: The Norridge housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes remained the same, 3 bedroom homes increased by 8%, 4 bedroom homes increased by 60%, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
14 | 12 | -14.3% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 12 homes were sold or pending in Norridge in May 2024, down by 14.3% month-over-month. Of the 12 sold homes, 67% were sold under asking, 8% were sold at asking, and 25% 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
May 2023 | May 2024 | CHANGE |
---|---|---|
66 Days | 18 Days | -72.1% |
Summary: Homes in Norridge had an average of 18 days on market in May 2024, down by 72.1% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 12 homes were sold in Norridge; 75% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.