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Featured local agent — Norwalk, IA
Sarah Mitchell
Compass Real Estate · Norwalk, IA
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Norwalk, IA Housing Market & Real Estate
Housing market overview · Updated monthly ·
$336,000median sale price
How is the Norwalk, IA housing market right now?
The median home sale price in Norwalk, IA is $336,000, down 4.0% year-over-year. Homes sell in an average of 53 days with 125 active listings. The market is currently a balanced market. (Source: Redfin monthly MLS data, as of May 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is Norwalk a buyer's or seller's market?
Norwalk, IA is currently a balanced market, based on 2.7 months of supply and homes selling in about 53 days. How we determine this →
Homes sold
46
Last 12 weeks
Days on market
53
Average pace
Active listings
125
2.7 months supply
Sale-to-list
99.8%
Below asking
What does the Norwalk housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $336,000 |
| Median list price | $332,450 |
| Year-over-year price change | -4.0% |
| Average days on market | 53 days |
| Active inventory | 125 listings |
| Months of supply | 2.7 months |
| Sale-to-list price ratio | 99.8% |
| Median price per sq ft | $240/sq ft |
| Homes sold (latest month) | 46 |
| New listings (latest month) | 50 |
| Listings with a price cut | 29.6% |
| Market condition | Balanced market |
Source: Redfin · Updated monthly
How much do homes cost in Norwalk by property type?
How the Norwalk, IA market breaks down across single-family homes, condos, and townhouses.
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $349,990 | $251/sq ft | 35 | 40 days |
| Condo / Co-op | $236,500 | $153/sq ft | 11 | 57 days |
| Townhouse | $243,000 | $267/sq ft | 1 | 297 days |
Source: Redfin · Updated monthly
The Norwalk housing market is currently classified as a balanced market with a median sale price of $336,000. Prices have fallen 4.0% compared to last year, with homes spending an average of 53 days on market, indicating 2.7 months of inventory.With limited inventory, homes sell quickly and buyers should be prepared to act decisively and competitively to secure a property.The price-to-income ratio of 3.6x provides context for how home values compare to local earning capacity.
Homes for sale in Norwalk
There are currently 125 homes listed for sale in Norwalk, Iowa. The median listing price is $332K.
Active listings
125
Homes on market
Median list price
$332K
Avg. days on market
53
Days until sale
New this week
50
Newly listed
Who lives in Norwalk?
Population
13,610
Median income
$94,583/yr
Median age
36.5 years
Owner-occupied
84.7%
College grads
40.2%
Avg commute
21.6 min
Source: U.S. Census Bureau ACS
What are homes worth in Norwalk?
Zillow home value
$337,407
Zillow rent index
$1,189/mo
Price-to-rent ratio
23.6x
Price-to-income
3.6x
Source: Zillow Research
What is it like to live in Norwalk?
Norwalk is a community of approximately 14K residents with a median age of 36.5 years.The median household income is $94,583, which reflects a relatively affluent area with strong earning potential. 40.2% of residents hold a bachelor's degree or higher, indicating a highly educated population.
Homeownership rates are at 84.7%, reflecting strong community stability and long-term resident commitment. The average commute time is 21.6 minutes, which makes this an excellent choice for those seeking short commutes to employment centers.Overall, Norwalk offers a balanced lifestyle with accessible home values relative to local income levels.
Which public schools serve Norwalk?
5 schools tracked · 3,502 students
The largest public schools serving Norwalk, IA by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
Norwalk Senior High School
Grades 9-12 · 1,035 students
Norwalk Middle School
Grades 6-8 · 804 students
Oviatt Elementary School
Grades PK-1 · 579 students
Lakewood Elementary School
Grades 4-5 · 558 students
Orchard Hills Elementary
Grades 2-3 · 526 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Which cities are near Norwalk, IA?
Want a head-to-head view? Compare Norwalk side-by-side with any other U.S. city using our market-comparison tool.
Is Norwalk a good real estate investment market?
For investors evaluating Norwalk, the price-to-rent ratio of 23.6x indicates higher purchase prices relative to rental income, typical of appreciation-focused markets. The market has softened 4.0% year-over-year, potentially creating entry opportunities for strategic buyers.Use our rent vs. buy calculator to analyze whether owning or renting makes more financial sense based on Norwalk's current market conditions and your specific situation. Estimate your monthly payment with the mortgage calculator using Norwalk's median home price.
Frequently asked questions
What is the average home price in Norwalk?
The median home sale price in Norwalk is $336,000, down 4.0% from last year.
How long do homes stay on market in Norwalk?
Homes typically spend 53 days on market before going under contract.
What is the median income in Norwalk?
The median household income is $94,583 per year.
Is Norwalk a buyer's or seller's market?
With 2.7 months of supply, Norwalk is currently a balanced market.
What is the Zillow home value estimate for Norwalk?
The Zillow Home Value Index (ZHVI) for Norwalk is $337,407, representing the typical home value in the area.
What is the median condo price in Norwalk?
The median condo/co-op sale price in Norwalk, IA is $236,500, compared to $349,990 for a single-family home, based on the latest Redfin data.
How much does a single-family home cost in Norwalk?
The median single-family home price in Norwalk, IA is $349,990 (about $251 per square foot).
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