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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Morton is a seller's market

Buyer's
Market

Difference Since October 2023

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

Key Takeaway

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

Housing Prices in Morton, IL

How much do homes in Morton, IL cost?

Median Sold Price

$274,000

$125/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$38,000(+16.1%)

Key Takeaway

Homes in Morton have sold for 16.1% more than they did a year ago.

Summary: The median home sold price in Morton was $274,000 in October 2024, up 16.1% from last year, and the median price per square foot was $125.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 --
N/A
2 $167K$155K
-7.2%
3 $215K$247.7K
+15.2%
4 $279.9K$370K
+32.2%
5+ $425K$439.9K
+3.5%

Summary: Morton housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 7.2%, 3 bedroom homes increased by 15.2%, 4 bedroom homes increased by 32.2%, and 5+ bedroom homes increased by 3.5%.

Median Sold Price Compared To Nearby Cities

Morton
+16.1%
Morton Township
+15.4%
East Peoria
+7.9%
Groveland Township
+4.6%
Groveland
0.0%

Housing Supply in Morton, IL

How many homes are available in Morton, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
5753-7.0%

Summary: The Morton real estate market had 53 homes for sale in October 2024, a 7.0% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 24
+100.0%
3 2829
+3.6%
4 2018
-10.0%
5+ 72
-71.4%

Summary: The Morton 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 increased by 100%, 3 bedroom homes increased by 3.6%, 4 bedroom homes decreased by 10%, and 5+ bedroom homes decreased by 71.4%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
18180.0%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

8 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Morton, you could pay more than the asking price. 44.4% of homes here sold above asking price last month.

Summary: A total of 18 homes were sold or pending in Morton in October 2024, the same as the previous month. Of the 18 sold homes, 33% were sold under asking, 22% were sold at asking, and 44% were sold over asking.

Days on Market for Morton, IL

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

Average Sale Time

Oct 2023Oct 2024CHANGE
14 Days20 Days+43.6%

Summary: Homes in Morton had an average of 20 days on market in Oct 2024, up by 43.6% compared to last year.

Breakdown of Home Sale Times

13 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 Morton are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 18 homes were sold in Morton; 72% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 6% 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 20 Days Ago

Newest Listings in Morton, IL

Nearby Markets to Morton, IL

What housing markets are near Morton, IL?