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 November 2023

At the same time last year, Monticello was a Neutral 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

$244,500

$143/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

-$5,000(-2.0%)

Key Takeaway

Homes in Monticello have sold for 2% less than they did a year ago.

Summary: The median home sold price in Monticello was $244,500 in November 2024, down 2% from last year, and the median price per square foot was $143.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $135K$120K
-11.1%
2 $136K$168.7K
+24.1%
3 $249.7K$249K
-0.3%
4 $305K$377.4K
+23.8%
5+ $130K$346K
+166.2%

Summary: Monticello housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 11.1%, 2 bedroom homes increased by 24.1%, 3 bedroom homes decreased by 0.3%, 4 bedroom homes increased by 23.8%, and 5+ bedroom homes increased by 166.2%.

Median Sold Price Compared To Nearby Cities

Sangamon Township
+2.1%
Monticello Township
-1.8%
Monticello
-2.0%
White Heath
-5.0%

Housing Supply in Monticello, IL

How many homes are available in Monticello, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
4636-21.7%

Summary: The Monticello real estate market had 36 homes for sale in November 2024, a 21.7% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 10
-100.0%
2 77
0.0%
3 2823
-17.9%
4 95
-44.4%
5+ 11
0.0%

Summary: The Monticello housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 17.9%, 4 bedroom homes decreased by 44.4%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
1612-25.0%

Asking Price vs. Sold Price

9 Homes Were Sold
Under Asking

2 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. 75% of homes here sold below asking price last month.

Summary: A total of 12 homes were sold or pending in Monticello in November 2024, down by 25.0% month-over-month. Of the 12 sold homes, 75% were sold under asking, 17% were sold at asking, and 8% 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

Nov 2023Nov 2024CHANGE
38 Days29 Days-24.0%

Summary: Homes in Monticello had an average of 29 days on market in Nov 2024, down by 24% compared to last year.

Breakdown of Home Sale Times

6 Homes Were Sold
Under 30 Days

6 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 November 2024, 12 homes were sold in Monticello; 50% of homes were sold within 30 days, 50% 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 2 Days Ago

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