Is Monticello, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Monticello is a seller's market

Buyer's
Market

Difference Since December 2023

Since last year, Monticello has remained a Seller's Market.

Key Takeaway

Monticello is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Monticello, IL

How much do homes in Monticello, IL cost?

Median Sold Price

$251,000

$144/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2023

+$1,250(+0.5%)

Key Takeaway

Homes in Monticello have sold for 0.5% more than they did a year ago.

Summary: The median home sold price in Monticello was $251,000 in December 2024, up 0.5% from last year, and the median price per square foot was $144.

Median Sold Price By Bedroom Count

# BEDSDec 2023Dec 2024CHANGE
1 $135K$120K
-11.1%
2 $140.9K$172.5K
+22.4%
3 $250K$249K
-0.4%
4 $302.4K$381.4K
+26.1%
5+ $130K$230K
+76.9%

Summary: Monticello housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 11.1%, 2 bedroom homes increased by 22.4%, 3 bedroom homes decreased by 0.4%, 4 bedroom homes increased by 26.1%, and 5+ bedroom homes increased by 76.9%.

Median Sold Price Compared To Nearby Cities

Monticello Township
+1.3%
Monticello
0.5%

Housing Supply in Monticello, IL

How many homes are available in Monticello, IL?

Number of Homes For Sale

Nov 2024Dec 2024CHANGE
3632-11.1%

Summary: The Monticello real estate market had 32 homes for sale in December 2024, a 11.1% decrease compared to November 2024.

Homes For Sale By Bedroom Count

# BEDSNov 2024Dec 2024CHANGE
1 00
0.0%
2 77
0.0%
3 2320
-13.0%
4 53
-40.0%
5+ 12
+100.0%

Summary: The Monticello housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 13%, 4 bedroom homes decreased by 40%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Nov 2024Dec 2024CHANGE
139-30.8%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Monticello, you may be able to get a good deal. 55.6% of homes here sold below asking price last month.

Summary: A total of 9 homes were sold or pending in Monticello in December 2024, down by 30.8% month-over-month. Of the 9 sold homes, 56% were sold under asking, 33% were sold at asking, and 11% were sold over asking.

Days on Market for Monticello, IL

How long does it take to sell a home in Monticello, IL?

Average Sale Time

Dec 2023Dec 2024CHANGE
15 Days18 Days+16.1%

Summary: Homes in Monticello had an average of 18 days on market in Dec 2024, up by 16.1% compared to last year.

Breakdown of Home Sale Times

6 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Monticello are selling fast, if you're buying plan to act quickly.

Summary: During December 2024, 9 homes were sold in Monticello; 67% of homes were sold within 30 days, 33% 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 4 Days Ago

Newest Listings in Monticello, IL

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