Is Morgan County, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Morgan County is a seller's market

Buyer's
Market

Difference Since October 2023

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

Key Takeaway

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

Housing Prices in Morgan County, IL

How much do homes in Morgan County, IL cost?

Median Sold Price

$130,000

$88/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$1,575(+1.2%)

Key Takeaway

Homes in Morgan County have sold for 1.2% more than they did a year ago.

Summary: The median home sold price in Morgan County was $130,000 in October 2024, up 1.2% from last year, and the median price per square foot was $88.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $45.7K$61.7K
+35.0%
2 $88.4K$98K
+10.9%
3 $138K$138.4K
0.3%
4 $189.9K$195K
+2.7%
5+ $315K$215K
-31.7%

Summary: Morgan County housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 35%, 2 bedroom homes increased by 10.9%, 3 bedroom homes increased by 0.3%, 4 bedroom homes increased by 2.7%, and 5+ bedroom homes decreased by 31.7%.

Median Sold Price Compared To Nearby Counties

Pike County
+37.9%
Morgan County
+1.2%

Housing Supply in Morgan County, IL

How many homes are available in Morgan County, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
11299-11.6%

Summary: The Morgan County real estate market had 99 homes for sale in October 2024, a 11.6% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 22
0.0%
2 2220
-9.1%
3 4844
-8.3%
4 3026
-13.3%
5+ 107
-30.0%

Summary: The Morgan County housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 9.1%, 3 bedroom homes decreased by 8.3%, 4 bedroom homes decreased by 13.3%, and 5+ bedroom homes decreased by 30%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
3128-9.7%

Asking Price vs. Sold Price

9 Homes Were Sold
Under Asking

13 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Morgan County, expect to pay close to the asking price. 46.4% of homes here sold near the asking price last month.

Summary: A total of 28 homes were sold or pending in Morgan County in October 2024, down by 9.7% month-over-month. Of the 28 sold homes, 32% were sold under asking, 46% 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

Oct 2023Oct 2024CHANGE
29 Days16 Days-43.9%

Summary: Homes in Morgan County had an average of 16 days on market in Oct 2024, down by 43.9% compared to last year.

Breakdown of Home Sale Times

23 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 28 homes were sold in Morgan County; 82% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 4% 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 23 Days Ago

Newest Listings in Morgan County, IL

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What housing markets are near Morgan County, IL?