Is Morgan County, 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, Morgan County has remained a Seller's Market.
Housing Prices in Morgan County, IL
How much do homes in Morgan County, IL cost?
Median Sold Price
$124,900
$84/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Morgan County was $124,900 in May 2024, down 0.5% from last year, and the median price per square foot was $84.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $37K | $45K | +21.6% |
2 Bedrooms | $85K | $95.2K | +12.1% |
3 Bedrooms | $137.5K | $140K | +1.8% |
4 Bedrooms | $167.5K | $187.2K | +11.8% |
5+ Bedrooms | $201.5K | $242.5K | +20.3% |
Summary: Morgan County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 21.6%, 2 bedroom homes increased by 12.1%, 3 bedroom homes increased by 1.8%, 4 bedroom homes increased by 11.8%, and 5+ bedroom homes increased by 20.3%.
Median Sold Price Compared To Nearby Counties
Pike County | $104.5K | $120K | +14.8% |
Morgan County | $125.5K | $124.9K | -0.5% |
Housing Supply in Morgan County, IL
How many homes are available in Morgan County, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
87 | 86 | -1.1% |
Summary: The Morgan County real estate market had 86 homes for sale in May 2024, a 1.1% decrease 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 | 24 | 24 | 0.0% |
3 Bedrooms | 37 | 39 | +5.4% |
4 Bedrooms | 20 | 15 | -25.0% |
5+ Bedrooms | 4 | 5 | +25.0% |
Summary: The Morgan County 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 5.4%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
32 | 24 | -25.0% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 24 homes were sold or pending in Morgan County in May 2024, down by 25.0% month-over-month. Of the 24 sold homes, 42% were sold under asking, 38% were sold at asking, and 21% were sold over asking.
Days on Market for Morgan County, IL
How long does it take to sell a home in Morgan County, IL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
21 Days | 13 Days | -38.0% |
Summary: Homes in Morgan County had an average of 13 days on market in May 2024, down by 38% compared to last year.
Breakdown of Home Sale Times
21 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, 24 homes were sold in Morgan County; 88% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.